You have been putting money away diligently in an IRA, just waiting for the time when you can start taking distributions without incurring an early-withdrawal penalty. You have now reached the IRA withdrawal age and you are ready to leave the workforce and enjoy your retirement. However, you want to make sure you understand the rules so you don’t end up making a financial mistake that could cost you a lot of money. Making sure you follow the IRS rules for withdrawal is important, since you don’t want the government to get any more of your money than necessary. When you make an early withdrawal, you are essentially giving the government as … [Read more...]