Three retirement savings strategies to use if you plan to retire early

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Thinking of retirement? These are three things to keep in mind regarding retirement and savings:

One

Early retirees need to have a strategy to avoid 10 percent penalties for withdrawing from traditional 401(k) plans before age 55 and traditional IRAs before age 59½.

Two

Advisors recommend early retirees use Roth IRAs and taxable accounts for assets they need before their 60s.

Three

Early retirees can convert traditional retirement account assets to a Roth IRA in retirement when their tax liability may be lower.


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