Hi Kenny,
I’m not sure what you are planning between 53 - 59.5, but if you are planning on retiring, you can draw retirement income without penalty from the 401K, as long as . . . “Distributions made as part of a series of substantially equal periodic payments over the life expectancy of the owner or life expectancies of the owner and the beneficiary. “
http://www.irs.gov/taxtopics/tc558.html Chin
