I am older than 59 and 1/2 years old. Can I make withdrawals from a regular IRA?
Absolutely. Between the ages of 59 1/2 and 70 1/2 you may receive distributions without a penalty.
Distributions before this are considered premature and subject to a 10 percent penalty. By 70 1/2, required minimum distributions (RMDs) must be made or an IRS penalty of 50 percent of what should have been distributed could be imposed. Your bank should have all the specifics for you.
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Absolutely. Between the ages of 59 1/2 and 70 1/2 you may receive distributions without a penalty. 