If you are thinking about withdrawing money from your retirement plan and you are under 59 and a half years old, you should think twice before withdrawing that money. First of all, you will need to include that withdrawal as part of your taxable income. Secondly, you will have to pay an additional 10% tax on the early withdrawal. There are several exceptions to the early distribution penalty
, so find out if you qualify for an exception before you withdraw the money.