Can I Tap My IRA Before Retirement?
You can, but it's better not to
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It's better not to tap into IRA before retirement.
If you're eligible for a penalty-free withdrawal, think twice about proceeding. Unless you truly need the money now, it may be better to leave the account alone — and keep the tax man waiting. Still, you can't do that forever. By April 1 of the year following the year in which you turn 70 1/2, you'll be required to begin withdrawing money from your IRA or 401(k).
You may also like: Use the new AARP 401(k) Fee Calculator. >>
Carole Fleck is a senior editor at the AARP Bulletin.
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