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Apply for a consultation here ๐ https://calendly.com/erg-kc/introductory-phone-call-with-ergย
Thinking about tapping into your retirement savings early? The IRS might have a 10% surprise waiting for you. Withdrawing money before age 59ยฝ from a traditional IRA or 401(k) can trigger not just regular income taxes, but also hefty penalties. In this episode, Scott explains the rules around early withdrawals and why understanding them can save you thousands.
Hereโs what we cover in this episode:
๐ธ The 10% IRS penalty trap explained
โณ Why 59ยฝ is the magic age to remember
๐ Key exceptions: home purchase, education, medical expenses
๐ ๏ธ Planning strategies like the Rule of 55 and 72
๐ Why preparation prevents regret later in retirement
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๐ Call us: 913-393-4724
๐ Visit our podcast website:ย https://listentoscott.com/
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๐๐ ๏ธ Check out Scott's book, Exceptional Retirement, and Retirement Toolkit
Download here ๐ https://keap.page/bu413/exceptional-retirement-youtube.html
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๐ฅ Subscribe to our YouTube channel for more retirement insights!
๐ http://youtube.com/@erg-kc?sub_confirmation=1ย
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๐ฐ Read our latest articles on Kiplinger:
https://www.kiplinger.com/author/scott-m-dougan-rfc-investment-adviserย
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https://www.facebook.com/elevatedretirementgroupkc/ย
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#retirement #retirementplanning
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