Steps to make a k that is 401( Withdrawal and prevent charges Eliminating funds from your own 401(k) before age 59 1/2 could cause serious charges. Some tips about what you must know about 401(k) withdrawals. A 401(k) plan is designed to offer you your retirement earnings. And so the money you sock away for the reason that your retirement plan should preferably stay untouched until your golden years. But you might be tempted to take a 401(k) withdrawal instead if you need that money sooner, and your savings aren’t enough. Regrettably, early 401(k) withdrawals can ask significant charges. Let us review how to make 401(k) withdrawals without losing all of your cash.