401(k) & IRAs Quizzes-Generally what is the earliest

Answer to Quiz

Generally what is the earliest age that an individual can withdraw funds from a traditional IRA without penalty?

Answer: (b), 59 Â½
Generally, if you take money out of an IRA before age 59 Â½, you have to pay a 10 percent penalty on top of ordinary income taxes.

Next Quiz:

What distinguishes a traditional IRA account from a Roth IRA account?

(a) Traditional IRAs are not taxed on contributions, whereas Roth IRAs are taxed
(b) Companies match contributions to Roth IRAs
(c) Roth IRAs have $5000 a year limit on contributions
(d) Traditional IRAs incur tax earnings from contributions

Word of the Day

Co-Payment

A "co-payment" is a specified dollar amount which a member under a health insurance...

Co-Payment

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