Tuesday, May 21, 2013
According to a recent report by the Employee Benefit Research Institute, younger retirees between the ages of 61 and 70 are withdrawing larger amounts from their individual retirement accounts than older households. These earlier withdrawals “are larger in absolute dollar amounts and as a portion of their overall IRA balance.
The report also found that low-income households were more likely to make early withdrawals and withdraw in larger amounts than higher-income households.
See Kelly Greene, Younger Retirees Burning Through IRAs, The Wall Street Journal, May 15, 2013.