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Financial Planning / Tax Strategies


Subject:  Re: Need relief from 10% penalty Date:  9/24/2001  12:02 AM
Author:  conick Number:  54178 of 124771

If you could withdraw the money any time you wanted with no penalty, would it still be considered a retirement account?

The whole purpose of having the tax benefits of 401K, IRAs, etc is to entice people to save for retirement themselves instead of depending on SS. I doubt you would get these tax breaks if it was just a means to invest.

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