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10 May, 16:10

Jimmy just turned 50 and has retirement savings in an IRA. How many years will he have to wait to be able to withdraw money without penalty?

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Answers (2)
  1. 10 May, 16:22
    0
    IRA stands for Individual Retirement Arrangements. Jimmy can access your money through an IRA withdrawal any time he’d like. There will only be difference in the tax he will have to pay. Without penalty Jimmy in to take his IRA withdrawal once he reaches 59 years. So, Jimmy will have to wait 9 years to be able to withdraw money without penalty.
  2. 10 May, 16:33
    0
    Apex: 9.5 years is how long he will have to wait
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