How much money can be withdrawn from a Roth IRA once retired?
827559
You can actually draw all of it at age 59 1/2 without penalty but you will have to pay income taxes on the tradtional IRA but not the Roth.  The mandatory withdrawal starts at age 70 1/2 and is a formula based on your life expectancy.  The company you have the account with can give you the minimum you must withdraw each year to meet the IRS rules.
46984
Yes. Its true that you don't have to make withdrawals until you are 70 ½, but most people are looking to start withdrawals earlier than this. Chances are if you are young now you are in a lower tax bracket than you will be in when you retire. \n\nFacts:\n\nYou will be taxed based on the bracket you fall under when you make withdrawals. \n\nSolution:\n\nConsider making contribution to a ROTH IRA if you believe you are in a lower tax bracket now than you will be in when you retire. This is also save because you are getting taxed NOW, so when you go to take the money later it is tax free. It is always a good idea to diversify your money to various funds. In this case you are protected in case the Tax rate increases greatly for some variant reason.
820338
Any amount put into a 'qualified retirement plan' as a result of a 'qualified domestic relations order' is not a taxable event.  Any amount not transferred to a 'qualified retirement plan', would be treated as a withdraw from such a plan.  If you are under 59 1/2, there is a 10% early withdraw penalty.  This is above and beyond income tax at regular rates on the amount withdrawn.
785959
The other answers forget..\n\nRule 72 (IRS) allows u to pull the $$$ from IRA (assume it applys to 401k too)...\n\nIt allows u to get it before 59.5 with only taxes to pay if u do it over a specified period of time.\n\nFor example u pull 40k out but do 4k per year for 10 years.\nThis is a way get $ out before 59.5 without penalty.\n\nIRS recongizes that there are life events that force many to grab funds from existing sources for emergencies.\n\nU could use this rule to pull out 100% of the 401k, and use portion for wife and portion for self.
132063
You can withdraw from your 401(k) without penalty at age 59 and a half. Some plans allow you to withdraw money for specific purposes, but require you to repay it within a specific time period. Check your plan for details.
586143
There's no rule against non-IRA investing...\n\nThe current minimum age to withdraw from an IRA penalty free is 59 1/2.  A Roth IRA is pre-tax money, so you can withdraw at any time - you've already paid the tax, but you're not being assessed tax on the income of that account.\n\nBut if you've done that, establish your own investment fund, at E-trade, or Schwab, or Scottrade.  You will be taxed on the income, but if you make $1000, and have to pay $150 in taxes, you still have an $850 gain!  That can help speed up retirement, and that account has no withdrawal restrictions.
440773
There are different types of IRAs.\n\nThe maximum limits are: (figures for year 2005)\nSEP IRA - 100% of earned income or $40,000 whichever is lower\nROTH IRA - 4,000 or 4,500 if over 50\nTraditional IRA - 4,000 or 4,500 if over 50\nSimple IRA - 10,000\n\nHowever, there are limitations on the contribution if your income is too high or if you're qualified to contribute to an employer retirement plan.\n\nTry these links:\nhttp://www.fool.com/money/allaboutiras/allaboutiras09.htm\nhttp://www.irs.gov/publications/p590/index.html
988055
Boy, I would really avoid that if you can. The withholding isn't really up to you. They are going to keep 30 percent if the principal is before-tax money (in a Roth) and 30 percent of the profit if it is after tax money (in a traditional). But the penalty is so severe that you ought to consider doing other things (second job or whatever) to avoid the hit and the loss of your compounding if you possibly can. $1,000 left alone for 40 years will grow to more than $100,000 in a growth stock fund.
38741
None.  You're you allowed to exempt up to 250k of the gain from taxes, if you're filing single or seperately.  And 500k if you're married filing jointly.
99863
You can withdraw money from your 401k without penalty at age 59.5. HOWEVER, you can take 72T distributions (named after the IRS Rule 72T) prior to age 59.5 and avoid the 10% penalty. Rule 72T stipulates that as long as the distributions are substantially equal and based on your life exepctancy they will not incur the penalty. The payments must continue for 5 years or you reach age 65.
524763
Under IRS rules, you can only roll over a 401k into a Traditional IRA and wait at least one year before moving it into Roth IRA. Remember, 401k sitting in previous employers will not have any growth. It is a frozen account until you roll it over.\n\nIRAs are always a good plan to save for retirement. You can pick any mutual funds that is offered by a financial institution (most mutual funds require a minimum initial deposit of $1000). And can be tax free after age 59 1/2 when you start using it.
151205
You can always rollover to your personal IRA account rather than taking the distribution.  Taking out the money from 401K not a good thing if you are not of retirement age because you have to give a lot to taxes and penalties.
1082372
Since a regular IRA has tax-deffered dollars, you are taxed on all of it if you withdraw it and don't roll it over into another IRA of any type.  You also are penalized 10% of the value of the account if you are younger than 59 1/2.
826571
Individual Retirement Account, if your money is before taxes you can contribute to a traditional IRA, this means you earn interest on the untaxed money. You are taxed when you make take the money out at retirement. Roth IRA, you take money that has already been taxed and are able to draw from it at retirement, without taxes. This is rumored to have been named for Ira Cohen, an IRS actuary who was working with them back in 1974. You can go to just about any bank, credit union, or find a financial advisor to explain in detail all aspects, what is allowed, what is not allowes (such as drawing out your money before age 59.5).
358558
The return on a Roth IRA depends upon the return of the investments that you've placed inside it.  You put investments in a Roth IRA in order to save for retirement and to avoid taxes.\n\nMost Roth IRA's are invested in mutual funds, and typical returns on these average 9 to 11% in the long run.  You can also use Roth IRA funds to invest in real estate, stocks, bonds, and small businesses.  You are not allowed to invest in collectibles such as art, coins (except gold), or stamps.\n\nA Roth IRA is a very good place to put your money for the tax savings it generates.  If you held the same investment and didn't put it into a Roth IRA, then the government would take 15% of your profits.
742987
Check with your HR or Benefits department, but generally speaking you can not cash out your 401(k) unles you seperate from service first.  The only alternative is a loan, but that could become messy if you wind up leaving before you pay it back.\n\nIf somehow your plan allows early distributions prior to retirement or seperation of service, then the other answers are correct.  If you receive a check directly from the plan, then by law they have to withhold 20% for taxes.  The entire distribution will more than likely be taxable (if you have after tax contributions, then you pay no tax on those) and you will be subject to a 10% IRS penalty. \n\nIf you meet one of the qualifying distribution exceptions for IRAs (first time home purchase, medical expenses, college expenses, etc...) then if you roll your 401(k) into an IRA FIRST and then take a distribution you may be able to avoid the 10% penalty.  You also control the amount that is withheld, so you may be able to keep more of your money.  Again, this is usually only an option if you're over 59 1/2 or if you seperate from service i.e. quit or change jobs.  But you may be able to keep more of your money.  You can open a rollover IRA at any bank, find one that DOESN'T charge a fee for the account.
361465
You can find the IRA contribution deductibility via the link below.  \n\nhttp://www.banksite.com/investments/how_much_ira_save.htm