Roth IRA to fund a Turnkey property

[Charles E Bernard Jr]

I am 68 years old. My Roth IRA was opened five years ago in August 2019. I have been contributing regularly to it. Is there any reason I can't take the whole amount out of the Roth IRA to purchase my first turnkey property in Indianapolis or Kansas City in August? We also have $150,000 equity in our home as a safety net.

[Michael Ealy]

Originally posted by @Charles E Bernard Jr:

I am 68 years old. My Roth IRA was opened five years ago in August 2019. I have been contributing regularly to it. Is there any reason I can't take the whole amount out of the Roth IRA to purchase my first turnkey property in Indianapolis or Kansas City in August? We also have $150,000 equity in our home as a safety net.

Charles,

Your IRA should be a Self-Directed IRA for you to use it to buy real estate.