early withdrawal
Funds taken prematurely
Early withdrawal is taking money out of an account before a specified date or maturity—typically retirement accounts or certificates of deposit.
Banks and governments discourage this by imposing penalties: The early withdrawal penalty wiped out most of my interest earnings.
The term also appears in sexual contexts as a euphemism for coitus interruptus.
- penaltyPunishment for wrongdoing
- penalty feeCharge for violations
- feePayment for service
- retirementLeaving the workforce permanently
- retirement accountTax-advantaged savings vehicle
savings · nest egg · rainy day fund · 401k · IRA · account · premature · funds · cash · cash out · surrender · taxes · fine · bank · CD · annuity · principal · forfeiture
- investment pitfallsovertrading, panic selling, overleveraging, overconfidence, poor timing
- withdrawalcash out, distancing, retreating, disconnection, pulling back
- bankingbank, banks, ATM, ATMs, account
- retirementretirement, retire, retirement age, retirees, retirement income
- payoutspayout, disbursement, dividend, cash prize, reimbursement
- pension termsannuity, annuities, benefits, survivor benefit, lump sum
early, earlier, earliest, withdrawal, withdraw, withdrew, withdrawn, withdrawing, withdraws