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How to spend your retirement savings without triggering a tax penalty

Source: https://cnbc.com/2019/11/08/how-to-avoid-tax-penalties-on-your-retirement-savings.html - Nov 8, 2019

It’s not just saving for retirement you need to worry about, but drawing down your money at the right time, too.

The IRS requires savers to make withdrawals from their retirement accounts starting at the age of 70½.

“They’ve allowed you to defer taxes, but they need to come collecting at some point,” said Arielle O’Shea, a retirement and investing expert at personal finance website Nerdwallet.

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Category: General Business