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re: Roth IRA- is it considered a liquid asset
Posted on 1/15/13 at 2:23 pm to BestBanker
Posted on 1/15/13 at 2:23 pm to BestBanker
I believe there are some "qualified" exceptions for penalty-free early withdrawal of earnings (withdrawal before 59.5 old).
For example, I'm fairly sure qualified 1st time homebuyers can early withdrawal earnings for use towards the purchase of their home (penalty free). Another might possibly be education related. Someone should check me though.
And it is my understanding that contributions are always available for penalty-free withdrawal.
For example, I'm fairly sure qualified 1st time homebuyers can early withdrawal earnings for use towards the purchase of their home (penalty free). Another might possibly be education related. Someone should check me though.
And it is my understanding that contributions are always available for penalty-free withdrawal.
1
Posted on 1/15/13 at 2:26 pm to kennypowers816
quote:
I believe there are some "qualified" exceptions for penalty-free early withdrawal of earnings (withdrawal before 59.5 old).
There are.
Education and health care related are others.
But I don't know the precise details on the rules around them. Heck, I think even pulling out uniform distributions is another qualified distribution.
quote:
And it is my understanding that contributions are always available for penalty-free withdrawal.
Yep.
This post was edited on 1/15/13 at 2:30 pm
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