2006-12-05 14:38:32 · 7 answers · asked by mac_a379 1 in Business & Finance ➔ Investing
You can get it, but if you're under 59-1/2, you'll pay a 10% penalty on what you withdraw, in addition to the income tax that you'd have to pay anyway. If you're at least 59-1/2, then you can withdraw whatever you want to without penalty.
2006-12-05 15:57:55 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
I'm assuming this is a ROTH IRA and you had it for at least 5 years- and over 59 1/2 years of age-the answer would be yes.
If it no for all of the above, then expect a penalty.
2006-12-09 13:46:47 · answer #2 · answered by sis79 2 · 0⤊ 0⤋
the money is probable invested in the inventory industry in some way, shape or style. maximum retirement plans are invested in mutual money (that are produced from the shares of countless agencies), and the linked fee of those investments can and do selection (pass up and down). Now that the money is in an IRA you have plenty extra administration over how your money is invested, so this is advisable to check out that. communicate to your representative on the employer that now holds your IRA and see what style of investment options they provide on your account. Retirement money could be seen long-term investments, so slightly up and down on your stability over the quick term isn't any vast deal. Over the long haul, mutual money can earn far extra money than you will possibly be able to desire to in simple terms via sticking the money in the financial employer. 401(ok) plans are a super thank you to start out with making an investment, because of the fact which you generally get matching contributions via your employer, and since the money comes out earlier taxes. are not getting discouraged via the present industry volatility. in simple terms keep in mind, in case you get scared and take your money out, you will lose much extra because of the fact which you will could pay taxes and outcomes for early withdrawal. Retirement money are in simple terms that, they are meant to be left by myself till you're arranged to retire, so as which you will take great thing with regard to the tax-deferred growth. area notice: if the rollover grow to be achieved right, one hundred% of the money could be transferred. there is not any penalty for rolling over qualified money (401k) into yet another qualified plan (IRA). If the pass place of work work wasn't finished right and it grow to be incredibly seen a withdrawal of your 401(ok), you will could persist with via with the employer which you transferred from and characteristic them restoration it. What happens to the linked fee after the pass happens, whether, is as much as the industry and how your money is invested.
2016-12-13 03:38:47 · answer #3 · answered by ? 4 · 0⤊ 0⤋
If you separated from your company that has the 401k after turning the age of 55 you may and without penalty.
2006-12-05 14:42:30 · answer #4 · answered by Anonymous · 0⤊ 2⤋
IRS penalty would be 10% on withdrawals taken prior to turning age 59.5.
Also, don't forget that your financial investment may also have a penalty (regardless of your age).
2006-12-06 03:37:21 · answer #5 · answered by derek 4 · 1⤊ 0⤋
Let's put it this way - shouldn't unless at proper age unless critical. Don't hurt future for cosmetic crap.
2006-12-06 04:56:13 · answer #6 · answered by vegas_iwish 5 · 0⤊ 0⤋
yes if you are old enough ( might be 70 or so)
other than that you will be taxed if you touch it
2006-12-05 14:40:47 · answer #7 · answered by G L 4 · 0⤊ 0⤋