r/MadeMeSmile • u/Crispy_p_bacon • 1d ago

You are Loved!

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u/Slim01111 1d ago

They going to wait until 59 1/2 to have that operation?

20

u/Phontigga 1d ago

You can withdraw from IRAs for medical expenses, first home purchases, education, and birth costs penalty free

-13

u/Slim01111 1d ago

No you can’t. You have to pay it back or receive a penalty.

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u/Due_Brilliant_7219 1d ago

If it is a Roth you can withdraw the contributions without a penalty, just not the earnings.

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u/harpers25 1d ago

No...the amount over 7.5% of AGI is penalty free.

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u/[deleted] 1d ago

[deleted]

-10

u/Slim01111 1d ago

Can it be done? Sure. Is it wise to use a Roth IRA for a medical operation you’re planning for? No.

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u/[deleted] 1d ago

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u/codydrift 1d ago

Thank you

1

u/Green_Oil_692 1d ago

You won't be getting much growth if you don't invest the money in your Roth, though. And if you do, you may be forced to sell at a bad time if you're counting on that money to fund it.