Today's video covers Roth IRA withdrawal rules if you are age 59 and under. Check out our top ROTH IRA videos...👇 – : [ ]: “ ” ? [ ]: [ ?]: SUBSCRIBE to NOT being a transaction ever again... Like us on Facebook! Follow us on Twitter! What is a Roth IRA? A Roth IRA is an individual retirement account in which money grows tax-free. Roth IRA Withdrawals under age 59 1/2... You can withdraw contributions you made to your Roth IRA anytime, tax- and penalty-free. But, you may have to pay taxes and/or penalties on earnings in your Roth IRA, depending on the situation. Many use a Roth IRA for an emergency fund. If you take withdrawals from a Roth IRA, you've had less than five years. If you take a distribution of Roth IRA earnings before you reach age 59½ and before the account is five years old, the earnings may be subject to taxes and penalties. You may be able to avoid penalties (but not taxes) in the following situations: You use the
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)