Don't Withdraw From Your IRA Before Age 59 1/2 -- Here's Why

When you need cash, whether to fund early retirement or just to help you out in a pinch, your IRA can start to look pretty tempting. It's your money, so there's no need to bother with a bunch of paperwork like you might encounter if you were taking out a loan. All you need to do is withdraw the funds and spend them.The drawbacks of your early IRA withdrawal may not become obvious until tax time, when you find yourself facing an unusually large bill. But that's not the only reason you may want to find another way to cover your expenses before you turn 59 1/2.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool