How to Tap Your Retirement Savings Penalty-Free

Saving for retirement does not lock up your money; in some cases, you can withdraw it early and avoid a 10% charge.

Saving for retirement is an important financial goal, but many people struggle with it. Some are concerned that it means locking up funds and making them inaccessible for other financial goals. But this, in fact, is a myth.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Vid Ponnapalli, CFP™, MS, EA
Founder & President, Unique Financial Advisors
Vid Ponnapalli is the founder and president of Unique Financial Advisors. He provides customized financial planning and investment management services for Generation X professionals. Ponnapalli is a Certified Financial Planner™ with an M.S. in Personal Financial Planning. He is an Enrolled Agent (EA), licensed to prepare tax returns and represent taxpayers before the Internal Revenue Service. Ponnapalli is a current active member of the National Association of Personal Financial Advisors (NAPFA), the Financial Planning Association (FPA), XYPN (a financial planners network focused on Generation X and Generation Y clients) and National Association of Enrolled Agents (NAEA).