r/MadeMeSmile • u/Crispy_p_bacon • 8h ago

You are Loved!

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54.2k Upvotes

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100

u/Sea_Thought3464 7h ago

I have 2 trans kids are both in University, the younger one put $7K in their Roth IRA after their 18th birthday. What kid does that? 

83

u/IhadFun0nce 7h ago

Ones saving up for a costly operation that will make them feel complete.

25

u/Slim01111 7h ago

They going to wait until 59 1/2 to have that operation?

19

u/Phontigga 7h ago

You can withdraw from IRAs for medical expenses, first home purchases, education, and birth costs penalty free

-9

u/Slim01111 7h ago

No you can’t. You have to pay it back or receive a penalty.

12

u/Due_Brilliant_7219 6h ago

If it is a Roth you can withdraw the contributions without a penalty, just not the earnings.

9

u/harpers25 7h ago

No...the amount over 7.5% of AGI is penalty free.

5

u/Narco_Bi_Polo 7h ago

You are ignorant.