You can withdraw contributions at any time, tax free and penalty free, regardless of age. However, if you withdraw more than your contributions when younger than 59.5, then the gains portion would incur a penalty. Thus, knowing your contribution amount is important if there is an intent to withdraw any amounts prior to 59.5, which could occur in an emergency situation or in early retirement.
On Saturday, April 24, 2021 at 8:22:28 PM UTC-4 bl...@furius.ca wrote: > I still fail to understand. This would make sense for an After-Tax 401k, > but for a Roth account, it's 100% non-taxable. > The penalty is a constraint based on your age IIRC, there's nothing to > track. > > > On Sat, Apr 24, 2021 at 7:49 PM William Bean <wbe...@gmail.com> wrote: > >> Agreed. The actual investments and everything would be tracked as a >> regular account. The contribution tracking would be something separate, >> which is why I'm contemplating just an account with fake currency for this. >> I intend to use it to track how much money I have available as an emergency >> fund (in addition to other assets). It probably makes sense to just be an >> asset with fake currency (or maybe just track the cash contributions via >> metadata), but wasn't sure if anyone had come up with a better solution, so >> figured I'd ask. >> >> On Saturday, April 24, 2021 at 7:22:05 PM UTC-4 bl...@furius.ca wrote: >> >>> I treat this as a regular account. >>> Why would you track this? The whole point is to keep the account around >>> for old age. >>> >>> >>> On Sat, Apr 24, 2021 at 5:32 PM William Bean <wbe...@gmail.com> wrote: >>> >>>> Does anyone have a specific way they track Roth contributions in >>>> Beancount, so you know how much you can withdraw penalty free before age >>>> 59.5? I was thinking of just a simple asset account with fake currency, >>>> but >>>> wasn't sure if there was a more elegant way to do this? >>>> >>>> -- >>>> You received this message because you are subscribed to the Google >>>> Groups "Beancount" group. >>>> To unsubscribe from this group and stop receiving emails from it, send >>>> an email to beancount+...@googlegroups.com. >>>> To view this discussion on the web visit >>>> https://groups.google.com/d/msgid/beancount/CAO0DHEBwWTwDWm8VHD8jQj5dWKSd1O3ssBvsz4U%3DLb_%2BVqo18w%40mail.gmail.com >>>> >>>> <https://groups.google.com/d/msgid/beancount/CAO0DHEBwWTwDWm8VHD8jQj5dWKSd1O3ssBvsz4U%3DLb_%2BVqo18w%40mail.gmail.com?utm_medium=email&utm_source=footer> >>>> . >>>> >>> -- >> You received this message because you are subscribed to the Google Groups >> "Beancount" group. >> To unsubscribe from this group and stop receiving emails from it, send an >> email to beancount+...@googlegroups.com. >> > To view this discussion on the web visit >> https://groups.google.com/d/msgid/beancount/b99d5cc5-ea1f-4083-81fe-a7820c0a3e91n%40googlegroups.com >> >> <https://groups.google.com/d/msgid/beancount/b99d5cc5-ea1f-4083-81fe-a7820c0a3e91n%40googlegroups.com?utm_medium=email&utm_source=footer> >> . >> > -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to beancount+unsubscr...@googlegroups.com. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/7e6763a1-cdba-43a8-89ab-b582b057c4bbn%40googlegroups.com.
