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Community: Investing Wiki

Term Of The Hour

close IRA penalties: Original post by Maggie McCormick of Demand Media The traditional IRA allows you to grow your pre-tax dollars in a tax-free environment until you are ready to withdraw. Usually, you'd keep the money in the IRA until retirement, but there may be cases where you want to withdraw the money and close the account. Whether or not you'll pay a penalty for this depends on certain factors.

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