Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
Member Login

Posted: 11/20/2012 7:38:08 PM EST
If I pull out money beyond my initial contribution amounts from my Roth, I know there are penalties. Are there outs if I've bought a home this year?
Link Posted: 11/21/2012 7:23:49 AM EST
Only if you use it for a down payment on the house. That's one of the few qualified distributions
Link Posted: 11/22/2012 5:03:45 AM EST
Housing market hasn't bottomed out yet. I'd wait.

FWIW:

I'd also get my money out of U.S. dollar denominated assets. Go physical, go James Turk's Gold Money.

When the nation wakes up to the fact that we've been in a depression and the world wakes up and rejects the dollar thanks to the shenanigans of Spaceman Ben the Ber Nank ("To infinity and beyond!" with Quantitaive Easing #3 Ad Infinitum), everything will bottom. Cash in then and buy your house even cheaper (but be sure to keep some physical in reserve to pay your taxes).
Link Posted: 11/22/2012 11:54:42 AM EST
[Last Edit: 11/22/2012 11:55:00 AM EST by sribble1]
Originally Posted By 4v50:
Housing market hasn't bottomed out yet. I'd wait.

FWIW:

I'd also get my money out of U.S. dollar denominated assets. Go physical, go James Turk's Gold Money.

When the nation wakes up to the fact that we've been in a depression and the world wakes up and rejects the dollar thanks to the shenanigans of Spaceman Ben the Ber Nank ("To infinity and beyond!" with Quantitaive Easing #3 Ad Infinitum), everything will bottom. Cash in then and buy your house even cheaper (but be sure to keep some physical in reserve to pay your taxes).


When you say, "go physical", you're saying PM's?
Link Posted: 11/22/2012 3:58:43 PM EST
Originally Posted By sribble1:
Originally Posted By 4v50:
Housing market hasn't bottomed out yet. I'd wait.

FWIW:

I'd also get my money out of U.S. dollar denominated assets. Go physical, go James Turk's Gold Money.

When the nation wakes up to the fact that we've been in a depression and the world wakes up and rejects the dollar thanks to the shenanigans of Spaceman Ben the Ber Nank ("To infinity and beyond!" with Quantitaive Easing #3 Ad Infinitum), everything will bottom. Cash in then and buy your house even cheaper (but be sure to keep some physical in reserve to pay your taxes).


When you say, "go physical", you're saying PM's?


Generally, yes. But there's also ABCD - Anything Ber-Nank Can't Destroy.

Top Top