Round Table | Paying the Penalty with My IRA

IRAs and other traditional retirement plans are designed to be left untouched until you retire. But what if you need cash flow for significant expenses? Should you make an early withdrawal? Your IRA has a hidden penalty you probably didn't even know existed—think about that for a second. Are you willing to pay the penalty? Tune in to today's discussion that covers 3 key aspects of your IRA so you can fully understand how much you pay in penalties when you put your money where it should not be.

Education - What are the facts?
Mindset - Are you terrified of your ability more than the penalty?
The Financial Aspect - What is the math behind this thing?

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YT Questions:
0:07 - What do you think is the penalty of not having clarity of what it would be like when you're financially free?
01:40 - What would you tell someone concerned about not knowing what to do? How could they get the answers?
08:54 - Why are we talking about paying the penalty with my IRA?
13:41 - What is something that many people may not even know about their IRA or qualified plan?
22:18 - What options do I have? Is the penalty worth it?
23:12 - What would you say to someone struggling with thinking about a penalty as it relates to exiting the Wall Street game?
26:44 - Do you think the words Early Withdrawal Penalty was put in there for a reason?
29:45 - Are we saying someone should absolutely 100% cash out their IRA and start investing?
33:30 - What is an example of how this makes sense mathematically?
38:25 - From a financial standpoint, you have experienced taking money from your IRA. Talk about why that was beneficial for you.
42:16 - How much can I write off against my taxes with the cost segregation depreciation when it's bought within an IRA? How much of the payments can I write off on the mortgage?
42:57 - If you're using your IRA and making 50% returns, what will happen come tax day when you need access to your IRA money as you retire?

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