See exactly how much you'll actually receive after taxes and penalties on an early 401(k) or IRA withdrawal — before you commit.
Enter the amount you plan to withdraw, your account type (401k, Traditional IRA, or Roth IRA), your current age, your federal tax bracket, your state income tax rate, and the reason for the withdrawal. The calculator determines whether the 10% penalty applies and shows you exactly how much you'll actually receive after all taxes and penalties.
Age matters: if you are 59½ or older, no penalty applies regardless of reason. The reason for withdrawal also matters — certain hardship exemptions waive the penalty while taxes still apply.
The IRS permits penalty-free early withdrawals in specific circumstances: death or disability, substantially equal periodic payments (72(t) SEPP), qualified medical expenses exceeding 7.5% of AGI, health insurance premiums while unemployed, qualified higher education expenses (IRA only), first-time home purchase up to $10,000 (IRA only), and IRS levy. Even with these exceptions, the withdrawal amount is still subject to ordinary income tax.
The immediate cost is steep — potentially 30–40% of your withdrawal vanishes to taxes and penalties. But the true long-term cost is even higher. That $20,000 withdrawn at age 40 could have grown to $80,000–$120,000 by retirement at 65 (assuming 6–8% annual growth). The combination of immediate taxes, penalties, and lost compounding makes early withdrawals one of the most expensive financial decisions you can make.