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re: I need some advice from the financial gurus
Posted on 2/25/24 at 7:19 pm to TIGERSby10
Posted on 2/25/24 at 7:19 pm to TIGERSby10
I believe you are allowed to take out any Roth IRA contributions penalty free. After all, it’s your money which has already been taxed.
So for example if you have $50k in a Roth IRA and say $40k are contributions and $10k of investment growth, you can take out up to $40k penalty free.. hopefully someone will correct me if I am wrong.
Personally, I think withdrawing those funds to pay of the 20% cc debt is your best option.
So for example if you have $50k in a Roth IRA and say $40k are contributions and $10k of investment growth, you can take out up to $40k penalty free.. hopefully someone will correct me if I am wrong.
Personally, I think withdrawing those funds to pay of the 20% cc debt is your best option.
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