401(k)s and IRAs: Grow your money, shrink your taxes

How to invest for retirement so that you get rich - and the IRS doesn't.

Withdraw money sparingly, if ever, and never pay a penalty
Protect It
Withdraw money sparingly, if ever, and never pay a penalty
It is always possible to tap into your retirement savings before you retire, but just remember that doing so always leaves you with a much smaller nest egg after penalties and taxes, so it's best to avoid it altogether if possible.

It is worth noting that there are a few exceptions for withdrawing money out of an IRA. You may withdraw IRA money penalty-free for qualified education expenses, but Roth earnings are taxable in this case.

Current law also allows you to withdraw as much as $10,000 penalty-free to help buy your first home. And if are disabled or you are unemployed and need funds to cover health insurance you can tap your IRA with no penalty.
Your 401(k) A top priority Go for an IRA MONEY's best savings strategy Take your 401(k) with you When is converting to a Roth IRA the right move? Withdraw money sparingly, if ever, and never pay a penalty First things first Tax-deferred accounts come next Ready for the Roth IRA
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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.