Age 59½ to 70
3 things to consider for Traditional, Rollover, SEP, and SIMPLE IRA withdrawals.
1. Your plan
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.
This tax information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends that you consult with a qualified tax advisor, CPA, financial planner, or investment manager.