Thread: Roth IRA questions..
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Old 12-03-2006, 09:59 PM
prohornblower prohornblower is offline
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Default Re: Roth IRA questions..
[ QUOTE ]
I know I can't take out the money until I'm 60, and I keep hearing "if you put in 4k now, you can have a million in 50 years "

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Wrong. You can take out Roth IRA CONTRIBUTIONS at any time, for any reason, tax and penalty-free. You just can't take out the gains without paying fees.

Also, I don't know how old you are, but if you are around 20 and put $4K in every year for the next 4 years, and never touch it again, you should easily have $1M by your early sixties.
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