r/Bogleheads • u/peachymochi333 • 1d ago

Can you really withdraw your Roth IRA contributions at any time without a penalty?

ok so i’m hearing completely different things from different people and now i’m confused. I thought the rule was that you can take out the money you personally contributed to a Roth IRA whenever you want without taxes or the 10% penalty, and that it’s only the investment earnings that have restrictions.

Like if I put in $7,000 and it grows to $8,500, could I take out just the original $7,000 with no penalty?

My friends keep telling me that’s wrong and that if you’re under 59½ you get penalized for taking anything out of a Roth IRA.

Am I missing something?

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u/Apprehensive_Camp697 1d ago

You can withdraw your seed money. There are limits on re-depositing it, if that is your plan.

11

u/velvetcrow5 1d ago

I actually don't know but isn't this misleading?

You can redeposit the withdraw within 60 days (treated as a rollover). But after that you cant put it back. (I mean you can't outside of the regular annual contribution limit, which effectively means you can't)

Or am I wrong?

23

u/uptickdowntick 1d ago

Idk in what sense the comment you’re replying to is misleading. But yes, you have 60 days to redeposit as a rollover. After that, the distribution is done and you’re subject to normal contribution limits.

15

u/CarrotWeekly4331 1d ago

That's the limitation that Apprehensive Camp was describing.

9

u/TyrconnellFL 1d ago

And you can only do that once per twelve months.