I think the authors of that notable instrument intended to include all men, but they did not mean to declare all men equal in all respects. They did not mean to say all men were equal in color, size, intellect, moral development, or social capacity. They defined with tolerable distinctness in what they did consider all men created equalâequal in certain inalienable rights, among which are life, liberty, and the pursuit of happiness. This they said, and this they meant.
Take care to avoid these five significant retirement penalties: IRA early withdrawal penalty. If you withdraw money from your IRA before age 59Â½, you will generally have to pay a 10 percent early withdrawal penalty in addition to income tax on the amount withdrawn. So, if you withdraw $5,000 from your IRA at age 40, youâll need to pay a $500 tax penalty.
But there's a catch. You can only withdraw an amount equal to, or lesser than, your contributions. So if you've invested $50,000 in your Roth IRA, but it's now worth over $100,000, you can only withdraw that original $50,000 without penalty. Roth IRA is one of the best investment vehicles to save for retirement. The biggest reason: You enjoy tax-free growth on all the money you put in -- that is, of course, if you follow the Roth IRA rules set forth by the IRS. Below are the most pertinent rules for 2015.