O'Reilly logo

The Truth About Protecting Your IRAs and 401(k)s by Steve Weisman

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Truth 3 59 1/2 and 70 1/2

Throughout the laws pertaining to withdrawals from annuities, traditional IRAs, and 401(k)s are found the recurring numbers 59 1/2 and 70 1/2. These numbers seem to take on almost mythical proportions. Most of us assume that there are logical reasons behind these numbers and assume, in particular, that the mystical 1/2 years contained in each of these numbers must have tremendous significance. However, to assume this is to give Congress much more credit than it deserves.

The age of 59 1/2 is the age at which you can withdraw money from retirement accounts without penalties. It’s certainly understandable ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required