Your Roth IRA Could be Locked For 5 Years. Here's Why
Description
Roth IRAs are a great way to build tax-free retirement income—but the withdrawal rules can be tricky. In this video, I’ll break down the five-year rules, how contributions, conversions, and growth are treated, and smart strategies to avoid unnecessary taxes.
Understanding these rules can help you make the most of your Roth IRA and keep more of your money tax-free. Let’s dive in!
Questions answered?
1. When can you withdraw money from a Roth IRA without paying taxes or penalties?
2. How do the two different five-year rules for Roth IRAs affect withdrawals?
Questions answered?
1. When can you withdraw money from a Roth IRA without paying taxes or penalties?
2. How do the two different five-year rules for Roth IRAs affect withdrawals?
Submit your request to join James:
On the Ready For Retirement podcast: Apply Here
On a Retirement Makeover episode: Apply Here
Timestamps:
0:00 - The 5-year rule
1:09 - Contributions
3:39 - Conversions
5:36 - Growth
6:51 - An example
8:55 - Conversions before 59.5 years
10:23 - Summary
Create Your Custom Strategy ⬇️
United States
