IRA and 401K early withdrawals

If you need to tap into your retirement before you actually retire, it will cost you dearly.

Sugar Land Financial Adviser, Derrick Kinney tells KTRH, "As an example, if you take out $100,000 you will pay a 30% penalty and another 10% penalty to the IRS. Instead, borrow the money against your 401K, because you won't get hit with any penalties."


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