• 10 Penalty-Fee Withdrawal Options For Retirement Plans, #240

  • Feb 11 2025
  • Length: 15 mins
  • Podcast

10 Penalty-Fee Withdrawal Options For Retirement Plans, #240

Listen for free

View show details

  • Summary

  • When it comes to retirement plans, the general rule is that you can’t access funds in your retirement account(s), without penalty, until age 59 ½. If you withdraw funds prior to 59 ½, you’ll get hit with a 10% penalty and income tax (if coming from a non-Roth account). But there are some instances in which you can make withdrawals penalty-free. We’ll dive into this in this episode of Retire with Ryan.

    You will want to hear this episode if you are interested in...
    • [0:55] Why you should hire a fee-only financial advisor
    • [2:32] When can you access retirement accounts?
    • [3:20] Way #1: Pay for unreimbursed medical expenses
    • [4:18] Way #2: If you become disabled
    • [4:53] Way #3: Pay for health insurance premiums
    • [5:43] Way #4: Death
    • [6:23] Way #5: Pay debt to the IRS
    • [6:50] Way #6: First-time home buyer
    • [7:34] Way #7: Higher education expenses
    • [8:31] Way #8: Substantial and equal payments
    • [9:52] Way #9: Terminal illness
    • [10:19] Way #10: Separation of service
    Resources Mentioned
    • Retirement Readiness Review
    • Subscribe to the Retire with Ryan YouTube Channel
    • Download my entire book for FREE
    • Getting Emergy Money from Your 401K
    • Breaking Down the IRS’s New Finalized Regulations on Inherited Retirement Accounts
    Connect With Morrissey Wealth Management

    www.MorrisseyWealthManagement.com/contact



    Subscribe to Retire With Ryan
    Show more Show less
Show more Show less

What listeners say about 10 Penalty-Fee Withdrawal Options For Retirement Plans, #240

Average customer ratings

Reviews - Please select the tabs below to change the source of reviews.

Audible.com reviews

Amazon reviews
No Reviews are Available