We live in a world where stuff happens.
Air conditioners break, kids need braces, and dogs need heart worm medication.
When the unexpected occurs and you suddenly find yourself in a cash needy situation, one place that investors are tempted to raid is their Individual Retirement Accounts (IRA’s).
If you don’t have a 401k that you can borrow from, your credit cards are tapped, and your emergency fund is in need of just that -an emergency, then tapping your IRA might be the only option.
This is a last resort, especially if you haven’t reached the age of 59 1/2. Did you know, however, that there are ways that you can withdrawal your IRA without penalty?
Yes, that’s right. Uncle Sam was generous to allow you to touch your IRA under special circumstances. If you need the money for one of these reasons, then you might be in luck.