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Age 59½ to 70

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IRA Withdrawals: Age 59½ to 70

Between the ages of 59½ and 70, you are allowed—but not required—to make IRA withdrawals from your Traditional IRA without penalty.

Need IRA help? Call 866-855-5636 anytime.

3 things to consider for Traditional, Rollover, SEP, and SIMPLE IRA withdrawals.

1. Your plan

Do you have an overall retirement plan in place? Learn how to turn savings into income and how to generate retirement income that can last.


2. Taxes

You can withdraw money anytime after age 59½, but you’ll need to pay income taxes on part or all of any IRA withdrawals you make.


3. Savings growth vs. emergencies

Need money for unexpected expenses? We suggest you consider all other options before making a withdrawal from a tax-advantaged IRA—so that your savings can continue to grow.

Withdrawal options

You can make a one-time (also known as “lump-sum”) withdrawal or a series of withdrawals, or schedule automatic withdrawals.

After you reach age 70½, you must take annual withdrawals, called Required Minimum Distributions (RMDs), from your Traditional IRA.


Learn more about RMDs



Take the next step.

Want to make a withdrawal? If you're a Schwab client, log in to Schwab.com and go to Transfers & Payments

Call 866-855-5636.