From: joetaxpayer 
Newsgroups: misc.invest.financial-plan
Subject: Re: Investing advice
Date: Sat, 31 Mar 2007 08:10:55 -0500
	iQBVAwUARg5d3/l/I4+O31e5AQHleAIAqHrb48LCQz9tmnXaPJ4C8f2KOkUkDGvA
	rAj+m6veEWHHL74Glnii3IToYcsa3RNTG85h/Ks9dJEurQq6HznOCQ==
	=i9oX

Slain wrote:

> For some reason I had the idea that the ROTH IRA cannot be touched for
> 5 years and the earnings for a longer period of time. Is that True?
>>From your mail it seems that I can withdraw the earnings anytime.
> 
> I know some of these questions are really dumb, but for a first times
> some times the information out there is over whelming.
> 

You can withdraw your deposit at any time. The earnings are what would 
incur tax and 10% penalty. There are enough combinations of how the 
money goes in and how/when it comes out that understanding the rules 
isn't so simple. We are still discussing whether a roll-over (from a 
regular IRA to a Roth) avoids penalty after 5 years. The IRS pubs are 
not as well written as we'd like.

Your questions are far from dumb. They are quite appropriate for a 
beginner, and welcome here.

We never did ask - do you have a 401(k) at work? If it has a matching 
provision, are you getting the full match? That's the first step for 
most people getting started.

JOE