Avoiding the 10% Tax Penalty on Early Withdrawals

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As a retirement account owner, you’ve probably heard warnings about the 10% early withdrawal penalty.  This applies to taxable distributions made before age 59½. While tapping your retirement savings early should be considered a last resort, there are exceptions to this rule if you need to access your money early? Expenses such as medical bills, buying your first home, and higher education may qualify as exceptions.  This could allow you to withdraw early without penalty. However, there are specific criteria that must be met for an exception to qualify.

To learn more: “Click here to download “Avoiding the 10% Penalty in 5 Easy Steps.”

Do you have more questions about your retirement account distributions? Contact Chris Robinson with RFG Wealth Advisory at 940-464-4104 to schedule a time to visit.

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Avoid 10% Penalty in 5 Easy Steps


“These materials have been independently produced by RFG Wealth Advisory. RFG Wealth Advisory is independent of, and has no affiliation with, Charles Schwab & Co., Inc. or any of its affiliates (“Schwab”). Schwab is a registered broker-dealer and member SIPC. Schwab has not created, supplied, licensed, endorsed, or otherwise sanctioned these materials nor has Schwab independently verified any of the information in them. RFG Wealth Advisory provides you with investment advice, while Schwab maintains custody of your assets in a brokerage account and will effect transactions for your account on our instruction.”

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