Retirement accounts offer great tax benefits, but to earn them, you generally have to leave your money untouched until you turn age 59 1/2. Withdrawing cash sooner generally triggers a 10% early withdrawal penalty on top of the taxes you could already owe if the money came from a tax-deferred account, like a traditional IRA or 401(k).

There's one account that lets you tap a portion of your retirement savings whenever you want -- although that doesn't mean you should.

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Source Fool.com