Altruism is one aspect of what social psychologists refer to as prosocial behavior. Prosocial behavior refers to any action that benefits other people, no matter what the motive or how the giver benefits from the action. Remember, however, that pure altruism involves true selflessness. While all altruistic acts are prosocial, not all prosocial behaviors are completely altruistic. For example, we might help others for a variety of reasons such as guilt, obligation, duty, or even for rewards.
Penalties on Earnings from Contributions. Unless an exception applies, most distributions from a Roth IRA before the owner reaches age 59 1/2 will be subject to an early withdrawal penalty of 10% on the amount of the distribution.n 2001, before he is age 59 1/2, Paul withdraws $10,000 from the Roth IRA. Paul will have no tax to pay on this withdrawal because he paid income taxes on the full $20,000 he converted in 1998; however, he WILL have to pay a 10% penalty (or $1,000) unless one of the IRA early withdrawal exceptions apply.
Withdraw from a Roth IRA. If you have a Roth IRA that is at least five years old, you may be able to withdraw your contributions, but not the earnings, without incurring an early withdrawal penalty. [Read: Why You Should Open a Roth IRA.] Leave the money in a 401(k). Employees who leave their jobs in the year they turn 55 or older can make 401(k) withdrawals for any reason without having to pay the 10 percent early withdrawal penalty. But if you roll the money over to an IRA, you'll have to wait until 59 1/2 to avoid the penalty.