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Old 06-06-2006, 01:58 PM
namknils namknils is offline
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Join Date: Jan 2004
Location: Chicagoland
Posts: 1,662
Default Re: Quick Roth IRA quesiton about withdrawals...

[ QUOTE ]
Yes you can always withdraw the principal from a Roth IRA with no penalty.

[/ QUOTE ]

Wow, this is absolutely the worst advice I've ever seen!

RedBean,

I don't know how old you are, but I'm guessing you're not 59 1/2 yet. Therefore you will be penalized for taking premature distributions from your Roth IRA unless you meet certain requirements on what the money is used for. Here is some more information: http://www.irs.gov/taxtopics/tc428.html
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