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In the event you withdraw cash from a conventional IRA prior to you turn 59 ½, you have to spend a 10% tax penalty (having a couple of exceptions). Exactly the same rule applies in the event you withdraw investment earnings from a Roth IRA. The exceptions involve instances in which you make use of the withdrawal to spend for college costs, to purchase your initial house (as much as $10,000) or for healthcare costs higher than 7.5% of one's AGI (adjusted gross earnings), or in case of disability. For much more, see Can I take cash from my IRA with out penalty?

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