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Traditional IRA vs Roth IRA - Yes you can

Posted: Feb 25th, 2023 - 10:08 am In Reply to: Early retirement - MTVet

I think the original question was about retiring early. I assumed age 62 because that is the earliest age people are eligible for Social Security. You are correct that you can start withdrawing funds from a retirement account after age 59.5, but you are still taxed and unless you are still working and making contributions or have a huge balance, it’s not a good idea to start drawing down funds that early. If you stop working that early, there are other considerations, including health care coverage, that need to be made.

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