Tapping Your Retirement To Help Your Kids



My wife and I want to buy a condominium now, especially since interest rates are so low. We need approximately $40,000 for the earnest money deposit, which is ten percent of the purchase price. My parents are prepared to lend us this money, but they will have to take it out of their Individual Retirement Account. Mom is 54 and Dad is 56. Can they do this?
http://dongockel.realtytimes.com/consumeradvice/buyersadvice1/item/31347-20141029-tapping-your-retirement-to-help-your-kids

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