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Steve Smith Financial

Steve’s Blog

Exceptions to the IRA Early Withdrawal Penalty

One of the most frequent questions we receive is “If I take a distribution from my retirement plan how much will I pay in taxes and penalties”? Tapping a retirement plan might be just be the financial lifeline you need to cover a short-term financial goal or it could result in paying 35-40% of your distribution in taxes and penalties. Leaving your retirement plans crippled for many years to come.Let’s review the exceptions to the premature or early withdrawal penalty. Did you h
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Check the background of this financial professional on FINRA's BrokerCheck