Credit Score and Financial Discipline: Cultivating Healthy Financial Habits
The IRA is a tax-advantaged investing tool for individuals to earmark their retirement savings. Depending on the individual’s employment status, IRAs can be of various types and have different tax liabilities. As the name suggests, it’s an individual account that you open and contribute to yourself.
Distributions must be taken at age 72 and can be taken as early as 59½. You are subject to a 10% penalty if you make withdrawals before that. The non-financial aspects include lifestyle choices such as how to spend time in retirement, where to live, and when to quit working altogether, among other things. … Read More