IRA Early Withdrawals

Hazards Associated With IRA Early Withdrawals and the 60-day Thumb-rule

It's easy to make mistakes when making IRA Early withdrawals that could cause you to prematurely pay taxes. Let's first define certain terms and then we will study how to guard against these mistakes: Trustee Transfer -- when one of your IRA custodians (e.g. a bank or a security company) transfers to another. You do not get to access your [...]

Right Retirement Plan

During times of monetary hardship, it can be highly enticing for you to use the finances you might have collected in your traditional IRA savings. In most cases, this is a bad idea, as you'll be hit with a 10% penalty on any unqualified early IRA withdrawals you make, in addition to the ordinary income taxes you'll owe on the [...]

Four Ways to Make IRA Early Withdrawals

If you have funds sitting in a traditional IRA, it can be tempting to tap into them ? especially if you find yourself facing a financial emergency. While this might seem like the obvious solution to your problem, you will certainly have to pay tax on the early IRA withdrawal, and could also face a 10% penalty. You can make [...]