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Retirement>Roth IRA

Put your money aside today without worrying about the tax implications tomorrow, while maintaining a certain measure of liquidity.

Benefits

• Since you don’t get a deduction on your contributions today, you can withdraw your money completely tax-free after age 59½.
• If you need to, you can take out your principal contributions without penalty (but not your earnings), as long as the money has been in the account for at least five years.

Features

• Principal and earnings withdrawals are allowed after age 59½.
• There’s no age limit for opening an account, and you can keep adding to it even after age 70½ if you have employment (W-2) earnings.