Hi Reader,
Thinking about tapping into your IRA early?
If you're under 59½, you’ll typically face a 10% penalty—on top of income taxes.
For a complete list of penalty exceptions, click the button below:
📢 New Penalty Exceptions (Secure Act 2.0)
✅ Terminal Illness – No penalty with physician documentation.
✅ Domestic Abuse – Withdraw up to $10,000 penalty-free (repay within 3 years).
✅ Natural Disasters – Up to $22,000 penalty-free; taxes spread over 3 years.
✅ Financial Emergencies – $1,000/year withdrawal, no proof required.
If you have questions about withdrawing from your retirement account, please let me know. I'm happy to help.
Best regards,
David
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David N. Waldrop, CFP®
Owner of Bridgeview Capital Advisors, Inc. a Registered Investment Advisor.
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