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Hi all. New member to Motley Fool and was hoping to clarify what I think to be true. Researched taking early distibution of my Roth IRA and believe as long as I 1) take only contributions (no earnings) and 2) have had the money in the account for 5 years I should not pay any penalty or tax. I am pretty sure this is correct but can any experts verify. Also, after researching this I kept on seeing that the 5 years is for the account to be open. I thought it was contribution specific so my second question is the following scenario. Open a Roth IRA in Jan 2007 with $4000 contribution. Made another $4000 contribution in Jan 2008. Does this mean I can take out all $8000 penalty/tax free in Jan 2012 since the account has been open for 5 years or must it be $4000 in Jan 2012 and $4000 in Jan 2013 (5 years specific to contributions). Hope this question is as clear as "mud". Thanks.

As someone has already mentioned, for a Roth IRA there is no waiting period to take out contributions.

For your scenario, what is the emergency event that requires you to pull the money out of the Roth IRA in five years? The point of the Roth IRA is for retirement savings, and Not, to use the funds just because one can.



As someone has already mentioned, for contributions to a Roth IRA there is no waiting period
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