$1k can be withdrawn tax and penalty free. Earnings would be taxed as income

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Oct 5, 2015
10:36:42am

RdF3

$1k can be withdrawn tax and penalty free. Earnings would be taxed as income

And a 10% penalty on top of that (assuming you're under 59 1/2).

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RdF3

Previous username: swishh_15
Bio page: RdF3
Joined: Nov 4, 2011
Last login: Jun 4, 2024
Total posts: 40,244 (2,677 FO)

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Messages

Author

Time

My wife forget about a Roth IRA her mom set up for her in 2008,

JohnnyB

10/5/15 10:32am

Contributions can be taken out tax and penalty free. Unless you fall under an

10/5/15 10:35am

$1k can be withdrawn tax and penalty free. Earnings would be taxed as income

RdF3

10/5/15 10:36am

Income Tax on earnings + 10% penalty (non-qualified disbursement)

Saxa

10/5/15 10:37am

How old is your wife?

CDV

10/5/15 10:41am

31. So not close to retirement.

JohnnyB

10/5/15 10:47am

Just think how much it will be worth if you leave it alone for another 30 years

Sea Chicken

10/5/15 10:48am

<< Deleted >>

Sea Chicken

10/5/15 10:48am

What kind of retirement accounts do you use? If she has a different roth IRA she

supertux

10/5/15 10:59am

RE: My wife forget about a Roth IRA her mom set up for her in 2008,

Bullrider

10/5/15 3:36pm

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