What do you mean by "penalized", though? If it breaks the rules, don't you get your account suspended? But if you don't break the rules, you're good to go. Do you really need to wait several months? I've done it without waiting at all. Only a few times, though.

The best option might be to write related content about the same topic and then add links to your old article.

But you can also send old articles to your email subscribers.