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Sep 30, 2024
10:08
:42
am
RBLegend
Playmaker
I don’t think you’re missing anything. It’s just the loss of tax-free
compounding. Obviously there is a tax reporting aspect as well. You’ll receive a 1099R and you or your CPA will need to be sure to report it as nontaxable.
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RBLegend
Previous username
VenturaCoug
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RBLegend
Joined
Oct 1, 2014
Last login
Sep 30, 2024
Total posts
1,321 (1 FO)
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Messages
Author
Time
I am wanting make a withdrawal from my Roth IRA, any reason why I should not?
kosmokramer
10:04am
What you’re missing is you’re depriving yourself of compounded gains on that
valleus
10:06am
Isn't there a 10% penalty, or something like that?
Ragnar Danneskjold
10:07am
Not for Roth contributions
RBLegend
10:09am
Not for certain reasons…
NorCal_Coug
10:09am
You can pull out Roth contributions for any reason you want.
RGGeemer
10:09am
That's only gains. You can take out contributions penalty free for anything. After 5 years.
Mr. Belding
10:50am
Because you will retire one day and will probably need money.
Sea Chicken
10:08am
I don’t think you’re missing anything. It’s just the loss of tax-free
RBLegend
10:08am
Can you do a 401k loan? I would recommend that if that’s an option
palangi
10:10am
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