Bobby just turned 56 and has retirement savings in an IRA. How many years will he have to wait to be able to withdraw money without penalty?

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asked Feb 8, 2019 217k views

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Sokid · Answer 1 · 2019-02-12T22:48:08+0000

The minimum age to withdraw from an IRA without penalty is 59 1/2. Subtract Bobby's age from this required age.

59 1/2 - 56 = 3 1/2

Bobby will have to wait 3 and a half years to withdraw without incurring penalties.

Bobby just turned 56 and has retirement savings in an IRA. How many years will he have to wait to be able to withdraw money without penalty?

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