I converted an IRA 5+ yrs ago to a Roth, & value is less than I put in, is there a 10% plty if I w/d I am 40.

Answer 1

Yes, there is a 10% penalty on any money taken out. If you don't like investing in securities just have the money transferred to an account with a money market or CD. This must all be done internally. If you get a check your owe 10%.

Answer 2

The answer is YES because you withdrawed before 59 and 1/2. It apply to traditional IRA or Roth IRA

Answer 3

Consider educating yourself about self directed IRA's. This gives you the flexibility of managing your investment while reaping the benefits. Do not throw in the towel. It is not difficult. Contact Equity Trust Company.