Video: IRA Retirement Penalties

IRA Retirement Penalties

There are penalties and fees for withdrawing money from an IRA account before the maturity date. Understand the penalties for early withdrawal from an IRA retirement account with tips and advice from an experienced financial adviser in this free video.

Video Transcript

This is financial adviser Patrick Munro talking about can IRA contributions to Roth's be withdrawn without penalty. A Roth by its very nature is an account whereby are prepay by the the contributor. So that when you hit seventy and a half in age, you are no longer required to pay minimum distributions. Should you decide to pay those taxes or withdraw the amount of money along the way, you can do so. But it defeats the purpose of the Roth. Because you're paying taxes as you go. But if an emergency does arise, there's certain guidelines by which you can withdraw your money from a Roth without penalty. This is Patrick Munro financial adviser talking about can contributions to Roth IRA be withdrawn without a penalty.

IRA Retirement Penalties

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