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Most of us spend so much time putting money into a 401(k) plan we forget about the fun part—how you take money out of your 401(k) plan.

Generally speaking, you can start taking distributions from your 401(k) plan when you reach age 59½. You can take a little at a time, or all the money at once. Or, you can keep the money in the plan and let it grow.

When you reach age 70½, however, you have to start taking distributions. There is one exception: If you’re working at the same company that offers your 401(k) plan, you may be able to keep the money in the plan.

Now, let’s say you’re a big saver and you want to retire early, before age 59½. Provided that you’re no longer working, you can start taking distributions as early as age 55.

Finally, regardless of when you take distributions, they’re are subject to federal, state and local income taxes.

Keep in mind that these are the rules for regular distributions. If you take withdrawals …

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