How to Calculate What My Penalty Will Be If I Cash Out My Retirement Account

If you take money out of a retirement account before you reach age 59 1/2, you may be subject to an early withdrawal penalty of 10%. Here's how to determine whether your withdrawal will be exempt from the penalty, and if not, how much you can expect to pay.

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A piggy bank with a hand outstretched above it, stopping it from being smashed by a hammer. — Image source: Getty Images.

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5 Retirement Withdrawal Strategies: How to Withdraw Funds

It's time to withdraw your hard-earned retirement savings. How do you do it?

8 Best Strategies for Retirement Income

You've worked hard to build a retirement nest egg. Here's how to make the most of it.

Understanding Taxation of Your Retirement Income

Just because you're retired doesn't mean you're living tax-free.

Can You Have an IRA and a 401(k)?

So can you have both? Yes, with some limitations.

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There's a lot to know about IRAs. If you're just getting started, or if you're already invested and have questions, we can help. Check out our IRA Center for more information, links to our latest IRA-related articles, and more.

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