I'm 74 And Would Like All Of My IRA Funds. Can I Do This Without Incurring Penalties/higher Taxes?
Answer:
If you are 74 you can withdraw all of your money from the IRA's but you will owe tax on the funds. No penalty just income tax. What you may want to do is withdraw partly at year-end then the other half at the first of the year. This way you will minimize you rates liability and tax rate.
Comment: Thanks for your answer back and good suggestion in the region of the timing of the withdrawal....however, not wise to do it this year! Thanks again!
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