Here's part 5 of a piece from Money Central that details some of the most common retirement planning mistakes and how to avoid them:
Tapping tax-deferred accounts too soon, or too late.
You're allowed to start tapping regular IRAs and 401(k)s at age 59 1/2 without penalty, but distributions aren't required from these accounts until the year after you turn 70 1/2. (Roth IRAs have no mandatory distribution requirements.) The conventional advice is that you should avoid taking withdrawals from your tax-deferred retirement plans for as long as possible so that your savings can continue to grow.
Yes, this one can be a bit tricky. Ask your accountant about it and see if it applies to you.
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