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Nicole
ANSWERS: 1
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According to the Internal Revenue Service in the USA, you must wait until age 59-1/2 before you can withdraw from your IRAs or 401(k)s. In general, if you withdraw from retirement plans before age 59-1/2, you will incur a 10 percent federal penalty on the investment, a state penalty, and, on traditional IRAs, applicable income taxes. (http://money.cnn.com/2000/07/31/pensions/q_retire_withdrawals/)
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