| BUSINESSWEEK ONLINE : JULY 19, 1999 ISSUE | ||||||||
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| COVER STORY
Downsides to Withdrawing Too Soon -- The earlier you take money out, the less you will benefit from tax-deferred compounding. -- You cannot change your mind or skip withdrawals. -- If you are within five years of turning 59 1/2, you are locked into a five-year withdrawal commitment. -- If you are younger than 54 1/2, you must take money out until you reach 59 1/2. For a 34-year-old, that means a quarter century of annual withdrawals. DATA: STRONG CAPITAL MANAGEMENT; BUSINESS WEEK _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
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 RELATED ITEMS The Many Ways of Unscrambling a Nest Egg TABLE: Retirement Account Mistakes An Early Dip into Your IRA TABLE: Downsides to Withdrawing Too Soon INTERACT E-Mail to Business Week Online | |||
