[madengr]

I thought the same thing, but I’d have no idea what to do without work. If I didn’t have to save for kids college, I could retire now at 46. Other problem is 401k can’t be accessed until 60.

Retire for me just means enough FU money, but I’ll probably work till I drop dead.

[twiceaday]

You can access your 401k before 60. You need to do a rollover into an IRA and then after 5 years the principle is accessible. This rollover is taxable but if you are retired your tax rate can be quite low, even 0% in some states depending on income. You should be in such no-income-tax states if you plan to retire early anyways.

[miguelrochefort]

By retiring, I mean not having to work to survive. I'm aiming for an income of around $20,000/year.

Then, I'll be able to work on what I really want, without worrying about income.

[madengr]

You’d probably need $400k in investments.

[ThePadawan]

Europe-based engineer here: Is a 401k completely unaccessible until 60?

I am currently resident of Switzerland, which has similar restrictions on the tax-free part of retirement savings, but allows earlier withdrawal for reasons such as

* purchasing a home (restriction: you have to live there yourself

* leaving the country

[calvinzpinson]

There are actually a few ways to get money out of your 401k before the traditional retirement age. It involves rolling the funds over from your 401k into a traditional IRA, and then into a Roth IRA in what is sometimes known as a Roth ladder. Here's an article on it: http://rootofgood.com/roth-ira-conversion-ladder-early-retir...

[awinder]

The US has a first time homebuyer withdrawl carve-out (which I think is defined as someone who hasn’t bought a house in 8 years?). There are also hardship exemptions. Technically you can withdrawl for any reason but you pay taxes + a 10% penalty.

[dunham]

I believe you can also take a loan from your 401k, but have to pay it back when you switch jobs.