Roth IRA Early Withdrawal Rules

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Information Roth IRA Early Withdrawal Rules

Title	:	Roth IRA Early Withdrawal Rules
Lasting	:	5.54
Date of publication	:
Views	:	11 rb

No doubts, A good way of growing and saving your money is through investing You don't need to have much before you can invest "That little money you have now can make you millions if you invest it wisely" I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made
Comment from : Emeld Centor

How do you withdraw the contributions? I click the withdraw option and I get things about tax 10 fed and state min
Comment from : ExtraSync

I saw in another video , you can draw out your "contributions" at any time with out getting a penalty "unless you rolled over the funds from another IRA account, if this is true, does it apply to TSP?brThanks!
Comment from : Doug Mead

Extremely well explained!!! It answers all my questions about the early withdrawal rules
Comment from : Alfred Demons

I’m 15 and when I get my first paycheck from my first job I am planning on putting it in my Roth that I opened last year
Comment from : Tyson E

Thank you! Saved my life
Comment from : Noo

I have a question:br- I opened the Roth in 2020 (age 67) with $5br- In 2021, I did a conversion of $10k (from a Traditional IRA)br- In 2022, I did another conversions of 15kbr- Let’s assume that NONE of my Roth had ANY gains, ever!brHaving no gains, will I be able to withdraw any amounts, at any time, penalty free? Or must I still endure waiting period(s)?
Comment from : FlaschDJ

What forms do i need to file for Excess contribution removal on ROTH IRA ? ( my situation -No conversion, directly contributed, money already taxed ) what form i need to file , is it form 8806 or form 5329, or both or more forms Please help me with this question, really appreciate it Thanks!
Comment from : Musicful

Thank you for the breakdown!
Comment from : Philip Padalino

Hi How do I prove to the irs that I had an roth ira open for 5 year since I had one with vanguard in 2015 and now I have one with fidelity that I open in 2019 I have never filed taxes
Comment from : ovie

Hey Travis, have a question If I withdraw the gain portion after the 5 years rules but before my 59 1/2 years old for traveling purpose Do I have to pay income taxes or the 10 penalty or both on that portion?
Comment from : Charles Saco

thanks for the great info! i thought i have to pay penalty when i take out my contributions before 595 yo
Comment from : DB Aq

If I withdraw contributions, it is completely out and the amount of compounding dollars on lowered for good, correct?
Comment from : Legacy or Liability With Sammy Franco

How can I withdraw the money I contribute without affecting the growth on it? The contribution and growth is inclusive per share So how can I make sure I only take out my contribution and not the growth to avoid penalty and tax? I appreciate your response
Comment from : JON V

Can you use the contributions portion of the fund for your kids education? Or is it only for the account holder?
Comment from : Lijo George

can i pull my money and invest it all in a index fund with out taking a hit on taxes? ive had it for 5 1/2 yrs and its under 10K
Comment from : Diego Marquez

If I wanna take out money for a house purchase, I can’t take out more than 10k?
Comment from : Milton Ramos

What about States Tax Laws? I live in NJ and been trying to figure out if the same rules apply as I read otherwise (NJ taxes contributions withdraws from Roth IRA) Can you comment on that?
Comment from : Alexander Marchese

Is there a way to take gains for any other reasons than listed? Granted you've had the account for at least 5 years
Comment from : Christopher Garrido

Also if one can take out their Roth to pay for college expenses why can't we do this to pay for student loans? No one had an IRA during college 😅
Comment from : Alëna Steigs

Extremely well-made and extremely well explained I smashed the like button
Comment from : FireLordSozin

I pulled all of my IRA of $20k in 2019 Does the current COVID cares act help me to not pay the 10 withdrawal penalty?
Comment from : Eli de la Torre

I need it to pay the IRS 😢
Comment from : Roni fran

Is there a specific penalty for cashing out growth early? I know there's the 10 early withdrawal penalty but I can't find any specific percentages on regards to early withdrawal on growth
Comment from : Lavar Bull

thanks for the video I'm still confused on the 5 years Do I have to pay tax if I only take out the contribution (no growth/earning) in LESS than 5 years?
Comment from : Van Tran

Can I make a withdrawal in 10 years from my Roth IRA without penalty?
Comment from : Kelley Bryant

If I withdraw contributions from my Roth with the intent of paying it back, what are the rules for this?
Comment from : Christopher Gill

Thank you brYou have been the clearest, most understandable, and seemed to cover all your bases on the topic of withdrawal br(I might be biased because I was looking for a particular answer to a certain question) brNone the less, online keeps me 2nd guessing and videos take a while to get to the point brVideo deserves more likes
Comment from : Watching

Ok so my dad just passed away in January this yearhe had 3 roth IRA's acccounts He had 3 beneficiaries listed We got the funds in the account, but do we or will we be taxed on the accounts if we take the lump sum option?
Comment from : diablov6tps