Taking Early Distributions from Retirement Accounts
Age 59½ is another important number in the retirement savings process as it’s generally the age that one can finally take penalty-free distributions, and in some cases tax-free distribution from retirement accounts, Hudnett said.
“It’s best to avoid withdrawing money before this age if you can,” Hudnett explained. “If you have a life event and are in need of funds, be sure to check the guidelines regarding penalty-free, but usually not income-tax-free, exceptions to this rule.”
