With a Roth IRA, you have already paid income taxes on the money, so the restrictions don't have to be so draconian.
-----Original Message----- From: G Money [mailto:[EMAIL PROTECTED] Sent: Monday, October 06, 2008 2:04 PM To: cf-community Subject: Re: Dow down over 500 points ... really??!?! I did not know that....i thought there were only very limited pretexts under which you could withdrawal early from an IRA without incurring the penalties....but i thought they all dealt with extreme life changes (death of primary earner, etc.) Interesting. On Mon, Oct 6, 2008 at 1:51 PM, Cameron Childress <[EMAIL PROTECTED]>wrote: > On Mon, Oct 6, 2008 at 2:27 PM, G Money <[EMAIL PROTECTED]> wrote: > > > I assume that's a Roth you are talking about....? > > > No, actually a traditional. You can take up to 10K out for a new home > purchase and you avoid penalties (but you still pay tax on it). You > have 120 days to put it back if the new home doesn't work out. > > -Cameron > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:272686 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
