Radical Personal Finance – Part Two
Financial Independence Podcast
How to Get Money Out of Retirement Accounts Before 59 and a Half Without Paying Penalty Taxes
There is a rule called the 72T distribution. The IRS allows you one way to get money out of retirement accounts before the age of 59 and a half without paying penalties. This is extremely dangerous for most people because they aren't in a situation where they have so much money that they can start taking money out early. But in the right situation, for an early retiree looking to use these accounts for early tax savings or later tax savings, there are some ways of using the money.
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