LogFAQs > #950041052

LurkerFAQs, Active DB, DB1, DB2, DB3, DB4, DB5, DB6, Database 7 ( 07.18.2020-02.18.2021 ), DB8, DB9, DB10, DB11, DB12, Clear

Topic List	Page List: 1
Topic	Stock Topic $eventeen
Seanchan 01/29/21 12:27:56 AM #162:	Sunroof posted... This may seem obvious, but the reason you dont touch the retirement money early is because you get penalized harshly if you withdraw it before you retire. I think there are certain exceptions for a Traditional IRA or 401(k) like for medical expenses or a first time house payment or something like that. I also think, as someone mentioned, you can withdraw any principal from a Roth IRA without penalty at any time. You just can't touch your gains though without severe penalty. --- "That was unnecessarily dramatic". - NY Mets motto (courtesy of InnerTubeHero) Congratulations to azuarc, the guru of gurus and winner of GotD 2020! <cite>Seanchan posted [p:950041052] in Stock Topi... [t:79265210]...</cite> <quote>Sunroof posted... </cite> <quote>This may seem obvious, but the reason you dont touch the retirement money early is because you get penalized harshly if you withdraw it before you retire.</quote> I think there are certain exceptions for a Traditional IRA or 401(k) like for medical expenses or a first time house payment or something like that. I also think, as someone mentioned, you can withdraw any principal from a Roth IRA without penalty at any time. You just can't touch your gains though without severe penalty. --- "That was unnecessarily dramatic". - NY Mets motto (courtesy of InnerTubeHero) Congratulations to azuarc, the guru of gurus and winner of GotD 2020!</quote> ... Copied to Clipboard!
Topic List	Page List: 1