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Old 05-01-2009, 08:54 PM
5,637 posts, read 14,172,730 times
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I understand there are no penalties and tax for withdrawing distributions from a Roth IRA account after one is past the age of 59.5 and the account has been established for a minimum of 5 years.

OK. Now, my question is this: My Roth IRA account is not yet past the 5 year mark (I'm in my late 20s). Can I withdraw some of my contributions and will it still be penalty/tax free? I had read at vanguard.com (where my ROTH is) that I can withdraw contributions, but not distributiions before the age of 59.5, but I wasn't sure if it also meant even if the account has not been active for less than 5 years.

I want to use some of this money to buy some real estate (although I won't be a first time homeowner because I'm just using the money as a downpayment for my parents whom are looking to buy a ranch on their credit). I think it's a good investment at my age and I'd like to eventually build a home on that land. If not, land prices in this market are fantastic, so resale is good.
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Old 05-04-2009, 08:48 AM
Location: The Pacific NW.
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You can withdraw contributions to a Roth at any time for any reason without tax or penalty. The 5 year thing applies to gains only.
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