pre - assessment\nquestion 4 of 5\nwhen do you need to pay withdrawal penalties?\nwhen you borrow money from…

pre - assessment\nquestion 4 of 5\nwhen do you need to pay withdrawal penalties?\nwhen you borrow money from a friend or family\nwhen you withdraw money from a retirement account\nwhen you use a credit card\nwhen you withdraw money from a savings account

pre - assessment\nquestion 4 of 5\nwhen do you need to pay withdrawal penalties?\nwhen you borrow money from a friend or family\nwhen you withdraw money from a retirement account\nwhen you use a credit card\nwhen you withdraw money from a savings account

Answer

Brief Explanations:

Withdrawal penalties are common for early - withdrawals from retirement accounts to encourage long - term savings. Borrowing from friends/family, using a credit card, or normal savings account withdrawals usually don't incur such penalties.

Answer:

When you withdraw money from a retirement account