Simple Roth Question

[pb4uski]

Well at least your biggest mistake of the day was only a hypothetical mistake and not real!

 

[harley]

Roth IRA space is precious and very valuable for the tax-free growth and withdrawals @ 59.5 years. While perfectly legal, access to Roth contributions is a big NO-NO. Roth is not a piggy bank and should not used as such. Once a contribution is removed it cannot be returned. Assuming 8% return, $7000 removed from Roth today results in $48K lost opportunity 25 years later. $14,000 removed is $96K lost opportunity. Don't do it!!

I'm not sure that this is true. I thought that you could withdraw from a Roth (or tIRA) once a year, and as long as the money was put back within 60 days there was no penalty or taxes (tIRA). I have thought about doing this a couple of times when I needed quick cash, but was able to avoid it.

Here's an article explaining the process.

 

[pb4uski]

Yes you can using the rollover contribution provision.

 

[orbops]

Not in Fidelity, but I move money from ROTH to my checking account all the time... no problems at all... just like any other transfer...

I assume that you're over 59 1/2?