Tapping Into Your Roth IRA Penalty Free


One of the greatest features of the Roth IRA is that qualified withdrawals are tax-free. To be a qualified withdrawal, the distribution must be taken after you have reached age 59 ½ and after the account has been open for five years. While Roth IRAs are meant to be long-term retirement savings, there may be times or circumstances in which you’ll need to tap into your Roth IRA before you reach age 59 1/2, especially in today’s struggling economy. So how can you tap into your Roth IRA before age 59 1/2 without incurring penalties?

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