Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Hi, I'm 22 years old and just started a new job and have a 401k. I am looking to get into investing in individual stocks pretty soon (have never done so) and am contemplating whether to do this in a Roth IRA or a regular taxable brokerage account. I love the idea of having the money grow tax free but I want the ability to withdraw early in case I end up retiring early. I remember reading somewhere about if it has been in the IRA for more than 5 years, it is exempt from penalties. Is any part of this true? Suppose I wanted to retire at the age of 50, would I still get penalized for my withdraws? Obviously I am a far way away from retiring, but I just wanted to know before I open either a taxable brokerage account or an IRA. Thanks.
Print the post  


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.