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	<title>New answer on: Can You Use Roth IRA Money To Buy A House?</title>

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		<title>By: Marcy Tooker</title>

		<link>http://insurancelibrary.com/retirement-plans/can-you-use-roth-ira-money-to-buy-a-house</link>

		<dc:creator>Marcy Tooker</dc:creator>

		<pubDate>Tue, 14 Apr 2015 02:17:23 +0000</pubDate>

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		<description><![CDATA[One of the great advantages to a Roth IRA is you can withdraw your basis at any time without paying any taxes or penalties. You can use this money for any purpose, including a home purchase. 

When you make a withdrawal from your Roth it is considered that your contributions come out first, then any conversion funds and finally earnings.

Here&#039;s an example: Let&#039;s assume you have contributed a total of $20,000 into your Roth IRA and over time your account has grown to $40,000. You are buying your first home and want to withdraw $30,000. The first $20,000 will not be taxed as it reflects your contributions. As a first time home buyer the next $10,000 will not be subject to the 10% early withdrawal penalty and will not be taxable as long as you&#039;ve had your Roth for over 5 years.

This type of flexibility is what makes the Roth IRA attractive for many investors.]]></description>

		

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		<title>By: Jim Winkler</title>

		<link>http://insurancelibrary.com/retirement-plans/can-you-use-roth-ira-money-to-buy-a-house</link>

		<dc:creator>Jim Winkler</dc:creator>

		<pubDate>Wed, 01 Apr 2015 03:48:58 +0000</pubDate>

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		<description><![CDATA[This is a great question!!! The answer is yes - Roth IRA rules allow for first time home buyers to be able to withdraw up to $10,000 tax free to help purchase their home. This is true regardless of your age, the 59 1/2 age requirement is waived, and so is the five year rule (your account must be opened for a minimum of five years to avoid taxes and penalties). I am a big fan of Roth&#039;s, and this is one of the reasons why. Go see your plan administrator, and happy house hunting! Thanks for asking!]]></description>

		

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