IRA Rules

Archive for December, 2005

Roth IRA Conversions: The Secret (Part 1 of a Series)

Question: Question for CPAs or Financial Advisors please:?

I am 46 yrs old and due to financial hardship am forced to make an early withdrawal from my IRA this year. My question is: If I need more money later this year from the IRA can I make a 2nd withdrawal in the same year? Or is there a limit of only 1 early withdrawal per year on an IRA account ?

Answer: No penalty.

If you are very resposible, and can handle only the debt you need to survive while you get a job, you may consider getting debt, if you can get low rates.