Payback of Roth IRA?

[Guest 1hunglo]

If I withdraw some of my contributions (not investment returns) from my Roth IRA is there any way to pay this back?

I've been contributing the maximum yearly amount, and plan to continue to do so, but I've run into a situation where I could sure use those funds for approximately 2 years but am loath to pull them out if I can't replace them later

Thanks!

[John G]

The only option for returning funds is when you attempt to use the 60 day withdrawal and return. I do not recommend that approach because so many things can go wrong with the plan - the "Murphy" factor. And, in you case it won't help you if you are looking for two years.

Money is "on sale" right now. You might want to consider other options. These include: home equity loans, brokerage account margin, a signature line of credit, and an intra-family loan (borrowing from parents, grandparents, uncles, etc. where you can offer a better percent than their CD rates). While I am not recommending this, you might even find a credit card offer where you can buy some item and pay zero % interest for 6 or more months. {These are teaser deals, but if you have the discipline about credit cards it might be a viable option}