In conjunction with our monthly theme on retirement planning, we have some information for you today on the rules for early withdrawals from retirement plans, and, in particular, a summary of the exceptions that can allow a person to make an early withdrawal without penalty. Client counseling needs to be done thoughtfully and carefully in this area.
In tough economic times, many people are tempted to withdraw retirement money to help them in the short term. I see one of our most important rules when dealing with our individual clients as being a watchdog for their future security. Working through the withdrawal exceptions with our clients is imperative for helping them save money today. Helping them find other ways to manage their money and get by on what they have is a service they will thank us for in decades to come.