My mom keeps taking money out of her retirement savings..?

She thinks its ok to take money out of her retirement savings, what can i tell her to make her stop??

Public Comments

1. Wait till she gets her tax bill for all those early withdrawals. Sit down with mom and have her show you on paper what she intends to live on when she retires. Maybe seeing how little she will get from Social Security will frighten her into saving more. Otherwise be prepared to support your mom when she is 70
2. Is it an actual retirement account (example IRA or 401K) or just money placed in an ordinary bank account. If it is the former then let her know that there are many interest penalties in place by brokerage companies for early withdrawal from a retirement account, without an adequate reason (education, medical). Also if the money was placed into these retirement accounts pre-tax then she would also have to pay tax on the money she withdrew.