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At what age can I withdraw from my IRA without penalties?

asked by Stella (19)

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Tags:  age  money  retirement

answers

You can withdraw from an IRA at age 59 1/2 without penalties. You can also take out IRA money penalty free for 1st time homebuyer, college tuition, medical expenses in excess 7. 5% of your income and in certain cases,disabiltiy.

8 votes

You must be age 59 1/2 before you are eligible to withdraw from your IRA without paying 10% penalty tax, unless you take advantage of the 72(t) exception.

6 votes

Both the Roth and Traditional IRA can be withdrawn at the age of 59 1/2. If you have a Traditional it is mandatory to withdrawl at 70 1/2.

reply
posted by Ginger (364)
5 votes

You can pull money out of a Traditional IRA or Roth IRA at age 59 1/2 without penalties. You can pull money out sooner if legally disabled and thus unable to work. You can also pull money out at any time to use the principal toward the purchase of a first home.

4 votes

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