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Author: rjm1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76395  
Subject: Re: Loan against Roth IRA Date: 10/28/2000 9:17 AM
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I promised to give my son the down payment on a home. When the market was up I felt it was no problem. Well, now
it has tanked and my available cash has also. I am wondering if I can borrow against my Roth IRA. I am 70 years old -
70 1/2 actually. However, I converted from a traditional IRA 12/98 and spread the taxes out over four years. Is there
any way I can do this? Can I use it as collateral or something? Most of my other investments are in tax deferred
accounts and I will be hit with a tremendous tax bill. I am still working but will probably retire next year. Help! Any
suggestions you can give me will be appreciated. My son has just gotten his loan approval and now I need to get the
downpayment together as I promised him I would after his loan was approved. Will appreciate any ideas as to the best
way to do this. Thanks.


Go to your local bank etc. and get a loan based on your net worth.

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