3 ms·
you "withdraw" by getting a bank line of credit with the IRA as collateral
by dustingetz 5y ago
you "withdraw" by getting a bank line of credit with the IRA as collateral
- maxk42 5y agoIt's explicitly prohibited for Roth IRAs.
- deleted 5y ago[deleted]
- deleted 5y ago[deleted]
- gravypod 5y agoI don't think you are allowed to borrow against a Roth IRA. You are able to borrow from an IRA in a very small set of situations. I think they are mainly buying your first house, going to college, becoming disabled, or adopting a child. I am not a lawyer so take it with a grain of salt and I am very probably wrong.
- s1artibartfast 5y agoOf course you are allowed to borrow against an IRA. You can pull they money out, at any time, day or night, for any purchase. You just have to pay tax on it. There are some situations where the tax is waived
- ska 5y agoThat's not allowed. I expect if you have enough there, you could use the same sorts of schemes as other illiquid wealth.