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early IRA distributions

money

Watch Out! Taking money out of your IRA has strings

by Mary Kinkelaar |

Question: If I take money out of my IRA before  I’m 59½,  what happens? Answer: What  you’re referring to is a premature IRA distribution.  If you are under age 59½ and withdraw funds from your IRA, you’ll probably have to pay a 10 percent penalty tax on top of whatever income taxes you owe on the distribution. This can be a major drawback for IRA owners who need money and have few other assets to … Read More

early IRA distributions, Individual Retirement Account, IRA, IRA penalties, IRAs, roth ira, Traditional IRA

MARY IN THE NEWS

US News & World Report - July 2016: Mary Deshong-Kinkelaar, CFP® was interviewed for Keep Your Money Goals on Track With a Midyear Financial Checkup

WGN TV Chicago: Mary Deshong-Kinkelaar, CFP® was interviewed for the Cover Story segment,Making a Pension Back Up Plan

Yahoo Finance: Mary Deshong-Kinkelaar, CFP® was interviewed for Financially Fit, Ask Farnoosh: What Do You Do After Maxing Out Your 401(k) and IRA?

Money Magazine: Mary Deshong-Kinkelaar, CFP® was quoted by Penelope Wang for Faster, Better or Cheaper personal finance strategies.

GetCurrency.com: Mary Deshong-Kinkelaar, CFP® was interviewed by Melissa Ezarik for her article, Post-Wedding Spending: Gift Money Matters, with a common sense approach to using money wedding gifts without feeling deprived.

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