Question by rx78788: I have a Question about the 5 year rule on a Roth IRA account.?
I’m 22 years old and have got into investing. I have about 10,000 that i have been playing around with and would really like to start an Roth IRA. All though I plan on buying a house and going back to school and would like access to the money in the next 5-10 years.

I have been told that if you have money in a Roth IRA that you can take the money out without tax penalties if it has been in the account for 5 years or more.

Can someone explain this to me in better detail. I always thought that you have to wait till you get 59.5 years old to take it out. Please help me thanks

Best answer:

Answer by Helen, EA in PA
You cannot take out the appreciation in the account until you turn 59.5 (or do an exception, such as first time home buyer or for education), but you can always take your money out of the account.

Helen, EA in PA

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