Disturbing Trends in IRA Withdrawals

According to a recent report by the Employee BenefitResearch Institute, younger retirees between the ages of 61 and 70 arewithdrawing larger amounts from their individual retirement accounts than olderhouseholds.  These earlier withdrawals“are larger in absolute dollar amounts and as a portion of their overall IRAbalance.

The report also found that low-income households were morelikely to make early withdrawals and withdraw in larger amounts thanhigher-income households.

See Kelly Greene, Younger Retirees Burning Through IRAs,The Wall Street Journal, May 15, 2013.