Craig Wear, CFP®Craig Wear, CFP® | Expert in Roth Conversions & Tax-Efficient Retirement Strategies for IRA Millionaires

Everything You Need to Know About Roth IRA Withdrawals

11 Oct 2024 · 0 min

Watch on YouTube

0:23

This YouTube video (hosted by Craig Wear, CFP®) explains Roth IRA withdrawal rules, emphasizing that contributions can be withdrawn tax- and penalty-free at any time, while withdrawing earnings before meeting the five-year rule and before age 59½ generally triggers income tax on the earnings and possibly a penalty unless a qualifying exception applies.

Questions this video answers

Yes — contributions can be withdrawn tax- and penalty-free at any time.

59½ (fifty-nine and a half).

The contributions to a Roth IRA can always be withdrawn free of tax and penalty at any time, regardless of a five year rule. Whatever you put in, you can take right back out. If you withdraw earnings before you meet these five year requirements and you're not at least 59 and a half, you're going to definitely pay taxes on the earnings and potentially penalties unless you have one of these qualifying exceptions.