Know-how
Should You Use Your IRA Withdrawals to Buy a House?
Sep 15, 2022
The rule with all qualified retirement accounts is that early withdrawals incur a 10% penalty. However, there is an exception to this rule to encourage more people to be homeowners. First-time homebuyers do not have to pay this penalty and can withdraw up to $10,000. However, even with these benefits, is it a viable option to use your IRA withdrawals to buy a home, be it your first one?
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