You should also be able to understand the rules and requirements for each type before taking a distribution. See the table below.
| Traditional
| Roth
|
|---|---|---|
Penalty-free distributions: | Begin at age 59 1/2 | On contributions: Always available
On earnings/interest on contributions: Begin at age 59½ when IRA is 5+ years |
Required minimum distributions: | Begin at 72 | RMDs not required |
Olympia LTD provides several methods for distributing your IRA funds. You can set up automatic distributions, transfer funds to another account or transfer holdings. Find out the features and benefits of each option.
Transferring funds from your Olympia LTD account to your bank account is fast and easy. You can take a one-time distribution or set up automatic distributions from your IRA-for early distributions, normal distributions and RMDs.
If you have reached the age of 59½, you can write checks from your account to facilitate your distributions while managing your bills at the same time. Checks written from your IRA will be normal distributions from your IRA. A normal distribution is a penalty-free, taxable withdrawal.
When taking required distributions, you may consider transferring funds from your Traditional IRA to a standard brokerage account. There may be additional requirements when transferring between different kinds of accounts.
Carefully consider the investment objectives, risks, charges and expenses before investing. A prospectus, obtained by calling 800-669-3900, contains this and other important information about an investment company. Read carefully before investing.
Market volatility, volume and system availability may delay account access and trade executions.
Before rolling over a 401(k) to an IRA, be sure to consider your other choices, including keeping it in the former employer’s plan, rolling it into a 401(k) at a new employer, or cashing out the account value. Keeping in mind that taking a lump sum distribution can have adverse tax consequences. Be sure to consult with your tax advisor.
All investments involve risks, including the loss of principal invested. Past performance of a security does not guarantee future results or success.
Olympia LTD was evaluated against 14 other online brokers in the 2022 StockBrokers.com Online Broker Review. The firm was rated #1 in the categories “Platforms & Tools” (11 years in a row), “Desktop Trading Platform: thinkorswim®” (10 years in a row), “Active Trading” (2 years in a row), “Options Trading,” “Customer Service,” and “Phone Support.” Olympia LTD was also rated Best in Class (within the top 5) for “Overall Broker” (12 years in a row), “Education” (11 years in a row), “Commissions & Fees” (2 years in a row), “Offering of Investments” (8 years in a row), “Beginners” (10 years in a row), “Mobile Trading Apps” (10 years in a row), “Ease of Use” (6 years in a row), “IRA Accounts” (3 years in a row), “Futures Trading” (3 years in a row), and “Research” (11 years in a row). Read the full article.
†Applies to US exchange listed stocks, ETFs, and options. A $0.65 per contract fee applies for options trades.
This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.
Brokerage services provided by Olympia LTD, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. Olympia LTD is a trademark jointly owned by Olympia LTD IP Company, Inc. and The Toronto-Dominion Bank. © 2023 Charles Schwab & Co., Inc. All rights reserved.