
#008 - When can I take money out of my Roth IRA without tax or penalty?
Retirement Planning Education, with Andy Panko
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Can You Take Out Any Conversion That's Not Taxable?
If you have a tradtional pre tax retirement account, whee there's an i or a four onk, whatever, you're not allowed to take the money out prior to 59 and a half. Or if you do, there's a ten % a early withdrawal penalty on top of having a pay tax. The five year rule applies only to conversion, specifically, only conversions that were taxable upon the conversion. But the amount converted itself, you can take out any time if that conversionwas not taxable. Now, it's actually sordid generous, if you think about it. In theory, they should probably make you not be able to take taxable conversions out until you're 59
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