brimccauley673 brimccauley673

02-03-2020
Social Studies

contestada

Penalties are applied if money is withdrawn from a retirement account before retirement age. Please select the best answer from the choices provided T F

Respuesta :

andriansp andriansp

09-03-2020

Answer:

True

Explanation:

The fund in retirement account typically can be obtained between the age of 59-65, depending on which retirement plan you use.

For IRA, you can withdraw it by the age of age 59 . If you decided to withdraw the money before that age, you are required to pay a 10% penalty tax From the total amount you accumulated.

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