Today we’re answering a common question we get here at Jazz Wealth, can you take a loan from a Roth IRA? Many investors know you can take a loan from a 401k but do the same rules apply to the Roth IRA? Today we will talk about how Roth IRA loans technically work (if you even want to call it a loan).
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thank you for this, your video enlightened me.
Let's say i choose a VERY good investment, i contributed 1k and in that same year it's 10k. Is it possible to actually SPEND that 10k by taking it out?
That was one the clearest explanations I've seen on tapping a Roth prior to distribution. A lot of people get confused regarding the rule of Roth withdrawals for a first time home purchase, which are more nuanced. But this video explains a large part of that, i.e. you can withdraw your base for any reason at any time (however, you can't put it back, as you explained).
I thought ylu had to be 58
So incredibly helpful! Thank you sir.
Super helpful video DT! keep em coming!
Great information
Can a person put $50k in a Roth IRA in January then take out $44k in December to take advantage of the growth tax free?
very informational
So if Im the type to Max my contribution of $6k at the beginning of the year and goes over MAGI and made $150,000 for that year. Even if I take back that $6k will I be penalized?
Yes they help.
Perhaps this has changed with the SECURE Act and all, but I was pretty certain you had up to 60 days to replace any “principal” taken out of a Roth IRA without effecting your contribution limits?
YES, IT HELPS OUT.
Thank you thank you thank you, so good explanation on this yes and no roth IRA loan.
Hey Dustin, please do a video about how to make a young child rich by using the power of compound interest and time.
Thanks Dustin good to go over the rules, to see if anything has changed .
I totally forgot about how you can take money out of a Roth w/o penalty. Good video.
Love all of the videos Dustin!
Not today, but usually these are helpful
Your videos are great, they have taught me a ton about the markets and retirment! I recommend you to so many people!
This was an awesome video, appreciate you taking your time out to teach us
Dustin what’s ur thoughts on self-directed Roth IRA’s!