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Old 09-29-2019, 04:15 PM
 
402 posts, read 140,939 times
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Iíve always thought if you open a Roth and withdraw money before 59, youíre locked in, and pay the 10% tax penalty. I was leaning toward a brokerage account because of the flexibility. Now, I read that you can withdraw money from a Roth before 59 without a penalty, if itís just the principle being withdrawn. Is this true?
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Old 09-29-2019, 05:41 PM
 
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https://www.nerdwallet.com/blog/inve...hdrawal-rules/
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Old Today, 08:51 AM
 
Location: North Las Vegas
447 posts, read 346,094 times
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Quote:
Originally Posted by Matthew_MI View Post
Iíve always thought if you open a Roth and withdraw money before 59, youíre locked in, and pay the 10% tax penalty. I was leaning toward a brokerage account because of the flexibility. Now, I read that you can withdraw money from a Roth before 59 without a penalty, if itís just the principle being withdrawn. Is this true?
You can withdraw your contributions to a Roth at any time without penalty. Unless you are doing a Traditional to Roth conversion. Then there is a 5 year waiting period.
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