If I start a Roth IRA in a couple weeks, and keep contributing $7k per year to it, for years & decades, When will it pay off? When can it be money for me to spend?
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As a note, you can’t “borrow” from a roth. So if you withdraw principle, you’re limited by the max contribution rate in building up the principle again.
So while it’s penalty free, there are limitations to keep in mind.