The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: Roth Question Date:  12/13/2000  8:10 AM
Author:  TMFExRO Number:  26580 of 98536

I made a $2,000 contribution for tax year 1999 in early 2000. If an emergency arose and I wanted to withdraw that $2,000 (assume no withdrawl of earnings on the contribution) would that be subject to the five year rule?

You've already received a correct answer to your tax law question. I just want to point out that emergencies do arise, and planning to use a retirement fund to meet them is not very good planning. Far better is to establish for yourself an emergency fund which you can tap if needed. You might want to visit the budgeting board for some ideas.

Phil Marti
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us