Life_is_Good
Recycles dryer sheets
- Joined
- Mar 1, 2007
- Messages
- 236
An article came out in my local paper stating that a Roth could actually be a source of emergency funds. The author stated that the contributions made to the Roth IRA could be withdrawn at any time (no age condition) with no IRS penalties. The early withdrawl penalties only apply to investment returns from the account.
While I wouldn't use my Roth for a source of emergency funds... I had not ever heard that contribution withdrawls were penalty free - even if you are not yet at the age of required minimum distributions.
Any truth to this?
While I wouldn't use my Roth for a source of emergency funds... I had not ever heard that contribution withdrawls were penalty free - even if you are not yet at the age of required minimum distributions.
Any truth to this?