IRA withdrawls 59 1/2?

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why is the age 59 1/2. what was the purpose for that age? why not and straight up 59 or 58?

2007-03-29 17:45:45 · 3 answers · asked by m_crnkovich 1 in Business & Finance ➔ Taxes ➔ United States

The US government cannot be expected to make sense.

2007-03-29 20:14:12 · answer #1 · answered by Anonymous · 0⤊ 0⤋

why NOT 59 1/2..ever think of that

2007-04-02 21:43:48 · answer #2 · answered by Mike Jones 1 · 0⤊ 0⤋

Because that's what congress passed. Maybe they couldn't decide between 59 and 60, so agreed to this as a compromise.

2007-03-30 10:32:31 · answer #3 · answered by Judy 7 · 0⤊ 0⤋