NEW YORK (11/19/13)--Your finances are tight and you know you have a substantial sum sitting in your Individual Retirement Account. So how do you make an early withdrawal, and get some much needed cash, without paying too high a price for it?
The bad news is that avoiding paying taxes on an early withdrawal may be impossible, but the good news is there are ways to get around paying a 10% penalty (MarketWatch Oct. 22):
Your credit union IRA specialist can help you sort out IRA withdrawal options, as well as help you consider possible alternatives. For related information, read "What to Do When You Inherit an IRA" in the Home & Family Finance Resource Center.