Ask a Fool: Can I Tap My Retirement Accounts Early?

You can take a withdrawal from your retirement account whenever you want, but you can get hit with a 10% early withdrawal penalty from the IRS unless you qualify for an exception.

There are different exceptions that apply to qualified plans (such as 401(k)s) and IRAs, so here's a quick rundown.

If your retirement savings are in a 401(k), 457, 403(b), or other employer-sponsored plan, you can withdraw from the plan after age 55 if you are no longer working for the employer who sponsored the plan.

Source: Fool.com