ROTH Retirement Accounts

Thinking about tapping into your Roth IRA early? Let’s break down 2 key terms of any retirement account:

Contributions

Contributions are your best friend! You can withdraw them anytime, tax-free and penalty-free.

Earnings

There are rules for withdrawing earnings early:

• 59 1/2 years old = penalty-free
• Qualified education, first home, or medical expenses = potential exceptions
• Disability, inheritance, or high medical costs = more exceptions

But beware! Early earnings withdrawals without meeting these conditions may mean taxes and a 10% penalty. Always consult a financial expert before taking that step!