Well this whole process confuses me. I've had a solid business for 20 years and then literally, this year for 8 weeks now business has tanked from 25 clients a week to 2 clients. I've been in touch with my core clients and they're happy. Some of cut back to due their customers cutting back but no one is upset or disappointed in any mass way. This is entirely a shocking experience and this month is looking to turn out no better so realizing that saving will only go so far and the word "recession" floating around. My wife and I decided to hold cut our expenses and pull our funds that we can from the IRA now if a 10% doesn't apply.
The Roth IRA sounds like it is possible but just a matter of the proper format. Vanguard doesn't make this process easy at all.
The Roth 401k I thought was also able to avoid the 10% penalty as in 2017 I asked Vanguard if I could withdraw from the max that I had contributed and they suggested I could since it wasn't 4/15/18. I didn't but at the time I thought I might have had to for a different investment opportunity. I scratch my head on the Roth 401k not allowing as that means once submitted then there isn't any pull out. I could understand for a Traditional 401k as there is tax deductions involved at the employee and employer level but the Roth 401k?!? There isn't any employer matching as I'm self-employed. More investigation is needed.
