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Re: weeblewobble09 post# 86702

Friday, 04/17/2015 9:49:38 AM

Friday, April 17, 2015 9:49:38 AM

Post# of 163722
i am not talking about age below 59. I did my own research and talked to the retirement advisor of both my bank and my brokerage firm. They confirmed the info I posted here as true for my case (age > 59). I can contribute the max allowed limit of $6,500 (after tax money) per year in my Roth account and as long as I leave the investment in the Roth account for 5 tax years I can withdraw at any age and any time taxfree. That is the big difference from a regular IRA where you are taxed upon withdrawal but can deduct the annual allowed amounts for tax purposes (IOW you invest pre-tax money). So even when I reach age 75 I can start buying a stock for max $6,500 per year and withdraw at Age 80. You can Google all that info as I did and confirm it with an IRA/Roth investment expert if you want.
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