Suze School: Revisiting The Five Year Rule For Roth Retirement Accounts
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
How to Take Out $10,000 From a Contributory Roth IRA
Your contributions are never taxed or penalized no matter what. So you can take out your $10,000 in this case without taxes or penalties. The IRS keeps track of all of that for you. You don't have to worry about it. You just need to know the rules. All right. Next question. You are 60 and you have contributed 21,000 over the past three years. Now that 21,000 is worth 25,000. And this person wants to withdraw all of it to buy a car. Will they have to pay a penalty on any of that money? Are you thinking about it? I did not ask you if they have to paid taxes and a penalty.
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