Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I believe first time homebuyers can withdraw up to $10,000 from an IRA penalty-free and the $10K will be taxed. If that's true, isn't the amount too low to matter? Put another way, I suspect the amount is too low to help significantly with the purchase but large enough to hurt the retirement nest egg. The 13.5% of my salary going into a 403b and long-term capital gains taxed at 5% lead me to think the 403(b) is not being maxed. Of course, OP didn't ask for advice on that and this is not the board for it, but one can't help noticing.

Any thoughts, corrections?
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.