Replies to post #71325 on Innovation Pharmaceuticals Inc (IPIX)

[Justfactsmam]

you are correct...but how likely would it be that you would withdraw from an IRA...and there are exceptions, where penalty gets waived. ...but if you are 41 (as indicated)...sometimes tough to envision and plan 18 years down the line. For anyone in their very late 50's or early 60's its extremely attractive...

[williamssc]

Darwiniwn maybe this will help. Fund your Roth with money you will not need until your 59 1/2. If you do need the money you will be charged the 10% penalty plus tax on any gains you made above your contributions(taxed going in taxed coming out). The IRA would also have the 10% penalty plus any income tax that would be owed on pretax money, the income tax will be owed regardless of age. If you need money early the IRA may be your best source. Consult with your tax adviser to see what works for you.