When It's Time to Draw On Your Retirement Account

Depending on the type of retirement account you have, you may have different restrictions on withdrawing funds.

Traditional IRAs

• Withdrawals can begin penalty-free after 59 ½
• You must make required minimum distributions by 70 ½
  

Roth IRAs

• Withdrawals of contributions can be made at any time.
• Withdrawals of earnings can begin penalty-free after 5 years and
  Age 59 ½
• No required minimum distributions

The most important concern when making withdrawals from your retirement account is paying taxes.

Traditional IRAs

• Taxes must be paid on all withdrawals made in a calendar year

Roth IRAs

• Withdrawals of contributions are tax-free
• Withdrawals of earnings as tax-free as long as it is a "qualified distribution"