Follow Steps 3 to 6. Benjamin does financial planning for people who hate financial planning. Thanks! With all of these methods, keep in mind the limit of 6 withdrawals per banking period (in the U.S.). Currently, Kentuckians pay $3.25 per month (charged to the account quarterly equaling $39.00 annually) to maintain their accounts. But you don't have to start at that age you can choose to let the account sit and grow for another 11 years if you choose. There is room for variation in bank policies regarding this limit, so know those of your bank. 2 - Close-ended schemes - these carry a lock-in period of 3 to 5 years. When it comes time to start withdrawing money from your retirement accounts, its essential to know the rules. (Some have more than one option available.) IRS rules say that the money must be withdrawn when you are at an age where you stop working for good. Withdrawing from a Traditional Savings Account, {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/e\/ea\/Withdraw-Money-from-a-Savings-Account-Step-1-Version-3.jpg\/v4-460px-Withdraw-Money-from-a-Savings-Account-Step-1-Version-3.jpg","bigUrl":"\/images\/thumb\/e\/ea\/Withdraw-Money-from-a-Savings-Account-Step-1-Version-3.jpg\/aid1426489-v4-728px-Withdraw-Money-from-a-Savings-Account-Step-1-Version-3.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"