I recently discovered that there is an attempt to add another exemption to the early withdrawl penalty for the Traditional IRA. A bill, H.R. 5318, was recently introduced that would allow an indiviudal to withdrawl funds from their Traditional IRA and that meets certain criteria for investment into small business would not be subject to the 10% early withdrawl penalty.
If you wanted the money to invest into a business that your IRA could not hold this could be a option to research. However, you may want to research making the small business investment within your IRA by using a self-directed account and keep the funds in the account to continue to grow for your retirement.
Bo
www.getmyra.com
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