Taking money out of retirement funds to purchase cards

[Johnny630]

You could take out what you put into your Roth Accounts Before 59 and a half without any penalty, just not your gains.

[x2drich2000]

Originally Posted by Johnny630

You could take out what you put into your Roth Accounts Before 59 and a half without any penalty, just not your gains.

Exactly my point. Withdrawing from a 401k you'll get rocked on the penalties and taxes, but a Roth you're not going to have the same expenses taking out your contributions.

[Johnny630]

Originally Posted by x2drich2000

Exactly my point. Withdrawing from a 401k you'll get rocked on the penalties and taxes, but a Roth you're not going to have the same expenses taking out your contributions.

Yes sir. A tradition Ira or 401k withdrawal prior would be Tax Hit City.

Idk people are Addicted to Cards and the Possibility of Making Major Gains now so I can see where they’re gonna get tempted and do it. Idk 🤷*♂️ nothing wrong with it. It’s their money, I guess smoke it if you want to.