Posted by: frustu April 1, 2018
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C 864916. “These provide more flexibility than IRA accounts as you can trade these any time and have no early withdrawal penalty
- There is a common misconception about withdrawal penalty. You do not pay any early withdrawal penalty on Roth IRA account.
- You can trade anytime and transfer funds back to your bank account without tax consequences.”
—-> above statement is not true .theres no early withdrawal penalty in your CONTRIBUTIONS but you’ll have to pay taxes and penalty (if you withdraw before 59 1/2 age ) in the EARNINGS ( profits ) .
You avoid penalty if you’re over 59 1/2 but still pay TAXES in ROTH IRA earnings .
- There is a common misconception about withdrawal penalty. You do not pay any early withdrawal penalty on Roth IRA account.
- You can trade anytime and transfer funds back to your bank account without tax consequences.”
—-> above statement is not true .theres no early withdrawal penalty in your CONTRIBUTIONS but you’ll have to pay taxes and penalty (if you withdraw before 59 1/2 age ) in the EARNINGS ( profits ) .
You avoid penalty if you’re over 59 1/2 but still pay TAXES in ROTH IRA earnings .
Last edited: 01-Apr-18 06:40 AM