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Can I take withdrawals from a Traditional IRA?

You can take a withdrawal from a Traditional IRA at any time, but you may be subject to a penalty if you withdraw the money before the minimum age.

If you are below age 59 ½, your withdrawal will be subject to a 10% early withdrawal penalty. Withdrawals for the purchase of your first home (primary residence) or for certain college expenses are penalty free.

Starting at age 70 ½, you must begin taking Required Minimum Distributions (RMDs) from your account.



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