Nov 20, 2018

In general, unless an exception applies, IRA owners must wait until they are exactly age 59 1/2 to withdraw IRA funds without penalty. This IRS levy is often referred to as the 10% early distribution penalty and The Age 59 1/2 Rule. Is it based on the IRA owner's actual age, or the year in which a client turns 59 1/2? And, are there some cases where you may make withdrawals at any point in the year in which you TURN fifty five? Steve will clue you in on those answers.  And, do you know how to take money out of your 401k or rollover IRA prior to age 59 ½.... PENALTY FREE?  It is actually quite a simple and legal maneuver known as a 72(t) Early Withdrawal Plan. Today, Steve will show you how easy it is! That and much more -- no matter HOW old you are!  MASTERING MONEY is on the air!!