Tag Archives: Roth IRA

Using a Roth IRA for College Savings

roth ira for college

Saving for your child’s college education can be done through a variety of accounts from Coverdells to 529s. Very few financial advisors, however, talk about the possibility of using a Roth IRA for college savings. For some people, this is an excellent way to save for these costs while still maintaining a lot of flexibility with their money. For other, …

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Is Withdrawal from Roth IRA for Home Purchase a Smart Strategy?

withdrawal from roth ira for home purchase

IRS regulations offer a break to first-time home buyers by allowing withdrawal from Roth IRA for home purchase. Typically, income earned in a Roth IRA can only be withdrawn tax free after the account holder has passed the age of 59 1/2. Non-qualified distributions before that age are charged a 10% withdrawal penalty to discourage investors from withdrawing money outside …

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