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- Ray
It’s already taxed money.
ChetIt depends on your age. If you are 59.5 years old or older, yes. If not, then no, a withdrawal results in a 10% penalty. If you would like for that money to be available to you before 59.5, then I would consider a standard brokerage account.
SeanThat’s not really how it works. Are you rolling it over from a Roth 401k? Either way unless your at retirement age, you can’t just pull it out penalty free.
JuleA rollover IRA means you are bringing the money from a 401K. Both accounts require for you to be 59.5 years old at minimum to withdraw penalty free.
SteveYou put 401k money from previous employers into a rollover IRA. You put taxed money into a different account, like a brokerage account.
Invest with a brokerage account and enjoy your money when you want.
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