Cashing in IRA early could draw financial penalty

October 06 06:05:01 AM, Chicago Tribune

Q I am 56 and retired from AT&T. At retirement, the [rollover] IRA balance was $300,000, but it recently dropped to $275,000 and is now back to $295,000. My financial guy said he could sell all and leave me with cash. Is this a wise decision? Will I be penalized? What about using the IRA as leverage to buy a home?

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