laurinsane
Dryer sheet aficionado
- Joined
- Jan 17, 2008
- Messages
- 37
I have a question about Roth IRA's. I would like to retire in my 40s, I'm going to be 25 next month. I have been savind 11% in my 401k and hope to increase that to 15% by the end of the year (when I get a permanent full time position at work). I would like to also start a Roth IRA.
I know Roth IRA's are after tax contributions so no taxes will be taken out when I start withdrawing. My question is if I plan on retiring before the elligable age for withdrawing money how will this work penalty wise?
Would just like to know my options. Thanks.
I know Roth IRA's are after tax contributions so no taxes will be taken out when I start withdrawing. My question is if I plan on retiring before the elligable age for withdrawing money how will this work penalty wise?
Would just like to know my options. Thanks.