Many years ago, when I opened my Roth, I remember noticing that one of the circumstances where you can withdraw money early, tax free, is for a first-time home buy. Does anyone know the mechanics of this and has anyone done it?
For background, I am in a situation where I need to file taxes as married filing separately, and will be for the next 5-7 years. Not worth explaining why, but that fact prevents me from making Roth contributions (barring backdoor ones). Given that, I've simply gone heavier into tax advantaged accounts, and am happy with that. I have a good employer match and am comfortable with my current retirement choices.
But now, I have ~$35K sitting in a Roth and, given my rate of retirement savings elsewhere, it seems to make more sense to use that as part of a down payment. By the time I'm done with the filing separately deal, our joint income will be close to, if not over, the Roth limit anyway.
Welcome any thoughts and anyone who can guide me on the Roth question.
Submitted October 19, 2018 at 10:26AM by bigrig387 https://ift.tt/2PHQz6Z
