Caption: expert/ Don't put off A lot of people think starting an IRA (Individual Retirement Account) means tying up thousands of dollars for what seems like forever. Maybe you're worried you'll need the money for an emergency long before you're ready to retire. And probably you've heard about the hefty 10 percent penalty - plus taxes - that hits IRA holders who break into their accounts before age 59 1/2. So you've decided to put off starting an IRA, keeping your savings more accessible. Dumb move, says financial whiz Bruce Correll, who heads one of the area's fastest growing accounting firms, Correll Krywko, Harrell & Davis in Southfield. Waiting for just the right time to open an IRA is a mistake, Correll says. Most people should open one now.
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