Reported 27 days ago
A reader who lost their job seeks advice on accessing retirement savings without incurring taxes or penalties. Financial experts stress the importance of understanding withdrawal rules from traditional IRAs and 401(k)s, as pulling funds early often leads to significant penalties. While exceptions exist, working with a financial advisor is recommended to ensure the most tax-efficient approach. Additionally, strategies for rebuilding savings once employment is regained are discussed.
Source: YAHOO