How Long Can I Take Money Out of an IRA Account?

You can keep taking money out until your account is empty; you don’t have to spread your withdrawals over a number of years or over any time period. It is your money, and you can take it out whenever you want, but there might be big tax consequences if you do so.

For example, if you withdraw money before the age of 59 ½ years old, then you have to pay all the taxes due plus a penalty for early withdrawal. If you wait until age 59 ½ and then withdraw all the money, this might put you into a higher tax bracket resulting in a big income tax bill. If you wait as long as possible and then take out a small amount each year, you will probably pay less in taxes.