ROTH IRA

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Save now and enjoy tax-free money later

Interest can be withdrawn tax-free on a Roth IRA once you turn 59½. This could mean major savings, especially if you start building your Roth savings early. Contributions are made from post-tax earnings, so you can’t deduct earnings from your taxable income, but you can withdraw funds at any time.

Benefits of a Roth IRA Account

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Tax-free distributions

The money you withdraw in retirement is NOT subject to income tax.

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No required withdrawals

You can withdraw Roth contributions whenever you want without penalty, but withdrawals are never required.

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Have a large IRA or existing investment account? Planning for your future? Looking to retire? We can help.

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See if you can find the answers to your questions here.

A Roth IRA is an account funded with after-tax dollars. At any time for any reason, you can withdraw your contributions tax-free and penalty-free.

In general, you can withdraw your Roth IRA contributions at any time. But you can only pull the earnings out of a Roth IRA after age 59 1/2 and after owning the account for at least five years. Withdrawing that money earlier can trigger taxes and a 10% early withdrawal penalty.

Regular Roth IRA contributions may be withdrawn tax and penalty-free. Withdrawal of earnings may be tax-free if it is a qualified distribution.

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