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When can I access the funds in my Traditional IRA?

  • You can take money out of an IRA whenever you want, but if you're under age 59½, it could cost you.
  • Early withdrawals (before age 59 ½) are subject to a premature distribution penalty tax.
  • Some exceptions are made if funds are used for a first-time home purchase, education or certain medical expenses.
  • Penalties also will be assessed if withdrawals are not taken beginning at age 70½.
  • For more information, talk to your Tax Professional.

Click here for more information on IRAs.