October 2020

9 Penalty-Free IRA Withdrawals

The contributions you make to your individual retirement account (IRA) are intended to supplement your income during your retirement years. However, as much as you’d like to let your IRAs remain untouched until retirement, unforeseen expenses may force you to withdraw some of those assets early. Traditional and Roth IRA distributions can trigger a 10% penalty if you take them too soon, but there are early-withdrawal exceptions that let you skip the fine.