Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: lisalisalisa who wrote (203308)	11/7/2002 9:42:33 PM
From: benwood	Respond to of 436258

Lisa, That 5-year wait is only part of the requirement to get an early distribution w/o paying the penalty. All other early distributions incur the penalty. That means if you are not 59 1/2 yet, be it 1 day after you established the Roth IRA, or greater than 5 years since you established but in a case where are not getting the money to pay for your kid's college expenses, you would incur the penalty. So you don't have to wait. Be sure to read up in case I'm mistaken about anything, but I think that's the gist of it. --Ben