Our daily roundup of retirement news your clients may be thinking about.
Why clients should avoid tapping retirement plans after disasters
The IRS is relaxing certain rules to make pulling money from retirement plans easier amid recent disasters caused by Hurricanes Irma and Harvey, but people must remember that the taxes and penalties associated with withdrawals are unchanged, according to the Arizona Republic . Loans from retirement plans could be a better option rather than directly getting money from plans, but loans would have to be paid back with after-tax money. An emergency fund, created separate from […]
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