IRA withdrawals: Age 59½ and over

Although you can start making penalty-free withdrawals after age 59½, you can also choose to leave your money and let it have it have the potential to grow.

Need IRA help? Call 866-855-5635

Traditional IRA rules

There are three things to consider for Traditional, Rollover, SEP, and SIMPLE IRA withdrawals:

  • Step

    Your plan

    Do you have an overall retirement plan in place? Learn how to turn savings into income and how to generate retirement income that can last.

  • Step


    You can withdraw money any time after age 59½, but you’ll need to pay income taxes on part or all of any IRA withdrawals you make.

  • Step

    Savings growth vs. emergencies

    Need money for unexpected expenses? We suggest you consider all other options before making a withdrawal from a tax-advantaged IRA—so that your savings can continue.

At Schwab, we offer clients several withdrawal options including:

Roth IRA rules

If you're at least age 59½ and your Roth IRA has been open for at least five years, you can withdraw money tax- and penalty-free. See Roth IRA withdrawal rules.

With a Roth IRA, there are no required distributions as there are with a Traditional IRA.

Take the next step

  • Take the next step

    Want to make a withdrawal? Schwab clients can go to Transfers & Payments in their online account, or call us at 866-855-5635 for help. 

On-page disclosure

This tax information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends that you consult with a qualified tax advisor, CPA, financial planner, or investment manager. Depending on the type of account you have, there are different rules for withdrawals, penalties, and distributions.  Please understand these before opening your account.

We're here to help