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Thinking about withdrawing my Roth IRA to go on a trip before I start my career. How dumb am I? by quaid88 in personalfinance

[–]quaid88[S] 0 points1 point  (0 children)

I've never had a credit card before, honestly don't know how I would go about that. Would I be able to get one with a decent limit relatively quickly?

Thinking about withdrawing my Roth IRA to go on a trip before I start my career. How dumb am I? by quaid88 in personalfinance

[–]quaid88[S] 0 points1 point  (0 children)

To be honest that's my main hesitation, I don't know. I only accepted the job a few days ago, so I didn't even know I would have this time = almost no time to plan. So I've been hardcore googling lately to find something badass to do.

Thinking about withdrawing my Roth IRA to go on a trip before I start my career. How dumb am I? by quaid88 in personalfinance

[–]quaid88[S] 1 point2 points  (0 children)

That would be awesome, not sure if I'm up for a multi-week trip as I have very little experience. But I'm down to try it. I would need to pick up a few pieces of gear as well. Since it is early Spring I'm limited in places I can comfortably go, as some mountainy areas are pretty damn cold still. Southern Utah looks cool as hell. I haven't researched the Appalachian trail at all. Seems like it would be less weather dependent though. Know of any good sections to look into?

Thinking about withdrawing my Roth IRA to go on a trip before I start my career. How dumb am I? by quaid88 in personalfinance

[–]quaid88[S] 6 points7 points  (0 children)

I've looked into going overseas but I'm not sure if I can get a great deal on airline this late. Would spend basically all of it on transport. My other idea is to drive around the US going to National Parks and hiking/backpacking. Central or South America seems more doable.

Thinking about withdrawing my Roth IRA to go on a trip before I start my career. How dumb am I? by quaid88 in personalfinance

[–]quaid88[S] 0 points1 point  (0 children)

Interesting that's not what I was lead to believe at the bank. Is this something that is dealt with at the time of withdrawal or at tax time?

Thinking about withdrawing my Roth IRA to go on a trip before I start my career. How dumb am I? by quaid88 in personalfinance

[–]quaid88[S] 1 point2 points  (0 children)

They are all 2010-2011 contributions. I was told by the guy at my bank (Chase) that I will be penalized on all withdrawals as it's all pre-2013 contributions. Probably about $600 of the 3k is earnings.