Just because you are able to withdraw retirement savings at any time doesn't mean you should. Early withdrawals force you to catch up by saving even more money for retirement, which isn't always easy to do. If you think you could benefit from the unique tax advantages the Roth IRA offers, consider stashing some of your retirement savings there. Just make sure you don't exceed the $6,000 annual contribution limit for 2021 ($7,000 for adults 50 or older). If you'd like to set aside extra money for retirement, stash it in a 401(k), health savings account, or other investment account.

Source: Daily Sun September 11, 2021 09:56 UTC