Thread: Life How do you save money?
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Old 11-12-2023, 02:05 PM   #130
ThaVirus ThaVirus is offline
You gotta kill a few people
 
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Join Date: Sep 2007
Quote:
Originally Posted by ChiliConCarnage View Post
If you contribute to a Roth IRA, you can remove the contributions. If you put 5k in each year the last decade and it's grown to 80k. You can remove the 50k in contributions. You already paid taxes on it. You'll get hit for touching the gains but the contributions you can pull.
Ahhh, nice. I have a traditional IRA unfortunately so I’m not familiar with the Roth.

I’ve been wanting to transfer but not looking forward to paying all those taxes at once.
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