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Avoiding Expensive Pitfalls in Early Retirement Withdrawals
In this episode of The Jeff Trapp Podcast, Jeff Trapp from The Tax Planning Pros covers questions about withdrawing money from retirement accounts before age 59½, explaining the steep tax penalties involved and exploring exceptions like medical expenses, education costs, first-time home purchases, and more. He also discusses IRS code section 72(t) and other specific circumstances that allow for penalty-free withdrawals. If you're considering early withdrawals from your IRA or 401(k), this episode is packed with valuable insights. Tune in for actionable advice and don't forget to like, share…
The skinny
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