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early distribution

The Earliest Age You Can Withdraw Retirement Money Without Penalty

Do you know what is the earliest age you can be and still be eligible to withdraw money from a deferred retirement account without penalty?

Public Safety Employee Retirement Plan Withdrawal at Age 50

There is a special exception to the retirement plan early withdrawal rules for a public safety employee, who may start withdrawals as early as age 50.

Tax Impacts of Early Withdrawals from Your IRA

When you make early withdrawals from an IRA or other retirement plan there are tax ramifications, depending on the circumstances of your withdrawal.

How Does an Early Withdrawal from a Retirement Plan Affect My Taxes?

Oftentimes we are faced with difficult situations in life – where we need extra money to pay for a major car repair, a new roof for the house, or just day-to-day living expenses – and our emergency funds are all tapped out.  Now your options become poor: should I go to a payday loan place, put more on my credit card?  My mortgage is upside-down so there’s no home equity loan in my future, and I can’t ask my folks for a loan, I’ve asked them for too much.  Hey, what about my retirement plan?  I’ve got some money socked away in an IRA that’s just sitting there, why don’t I take that money? It’s really tough to be in a situation like this, but you need to understand the impacts that you’ll face if you decide to go the route of the IRA withdrawal, especially if you’re under age […]

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