Top 3 Retirement Accounts for Early Retirement
Saturday, 9 March 2024, 14:00
Top 3 Retirement Accounts for Early Retirement
Are you planning to retire early? Overcome retirement account withdrawal obstacles with the top three retirement accounts that offer penalty-free access to your savings:
- Roth IRA: Funded with after-tax dollars, it allows tax- and penalty-free withdrawals on contributions.
- Roth 401(k): Combining features of a 401(k) and a Roth IRA, offers high contribution limits and the opportunity for penalty-free withdrawals through a rollover.
- Traditional 401(k): Provides an exception known as the Rule of 55, granting penalty-free access to funds as early as 55 years old.
By understanding the rules of these accounts, you can make informed decisions and secure your early retirement without unnecessary penalties.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.