When can I start withdrawing from my retirement account?

The ability to withdraw from a retirement account, particularly one offered by Prudential Retirement, will depend on several factors including the type of account you hold, your age, and the specific terms associated with your plan. Generally speaking, for most retirement accounts, the standard age to begin making penalty-free withdrawals is sixty-two years old. However, if you take withdrawals before reaching this age, a ten percent early withdrawal penalty may apply, in addition to any applicable income taxes. Additionally, some plans may allow for distributions under specific circumstances, such as financial hardship or reaching a certain milestone age in the plan. It is also important to consider the type of retirement account, such as traditional or Roth IRAs, each of which may have unique rules regarding withdrawals. To ensure you understand your options and any potential tax implications, it is advisable to explore the details on Prudential's site regarding your specific retirement account plan. This will provide you with the most accurate and relevant information tailored to your situation.