Can you borrow money from your IRA without penalty?

Answer On One Hand: No IRA LoansThe Internal Revenue Service prohibits people from borrowing money from their IRAs or using the IRA to back a loan. If the IRS determines that you are using your IRA as col... Read More »

Top Q&A For: Can you borrow money from your IRA without penalty

How to Borrow Money from Your Parents Without Permission?

Everyone knows that it is wrong to steal (especially those who believe in Christianity...or Judaism, or Islam, or Hinduism, or Buddhism, or the Golden Rule)...but let's face it: You're "special" an... Read More »

Can I borrow money from a 401k without telling my spouse?

On One Hand: 401k Plans Are for IndividualsA 401k plan is titled in the name of one investor only. As such, only the named investor has the right to take loans or withdrawals or otherwise direct th... Read More »

At what age can you withdraw money from an ira without a tax penalty?

You can normally withdraw money from a traditional IRA without a penalty after the age of 59-1/2, according to IRS Pubication 590. You can withdraw the amount of your original contributions at any ... Read More »

How to Borrow Money From Your 401(k) Plan?

If you have bills to pay and no other way to get the money, borrowing the funds from your 401k can make sense. Borrowing from your 401k to pay credit card debt helps you avoid both high interest ra... Read More »