If you’d like to cash out on the Roots platform, follow these steps:
- Log into Your Account: Access your Roots account by logging in with your credentials.
- Select “My Investments”: Navigate to the “My Investments” section from your dashboard.
- Select “Cash Out”: In the “Cashout Wallet” section, you will see options to cash out.
Understanding the Difference Between Cashing Out Your Distribution and Your Account Balance
In the “Cashout Wallet” section, you have two different options to cash out: your Distribution and your Account Balance. It’s important to understand the difference between the two:
- Cashing Out Your Distribution: This option allows you to withdraw the earnings (dividends) you’ve received from your investments. Distributions are typically paid out quarterly and can be cashed out separately from your principal investment.
- Cashing Out Your Account Balance: This option involves withdrawing funds from your principal investment. If you choose to cash out your account balance, you may be subject to the 6% early withdrawal fee if it’s within the first year of that specific investment.
When using the “Cashout Wallet,” make sure to choose the correct option based on whether you want to withdraw your earned distributions or your invested funds.