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BioChica

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BioChica

Re: NickHous post# 179688

Wednesday, 03/06/2019 3:43:04 PM

Wednesday, March 06, 2019 3:43:04 PM

Post# of 430229
Nick this is from Vanguard - rules for Roth IRA:

Age requirements

Contribute at any age.

Withdrawal taxes

You won't pay taxes when you withdraw your contributions, and you won't pay federal taxes on your earnings, as long as the five-year aging requirement has been met.

Early-withdrawal penalties

If you make withdrawals before you're 59½, you might have to pay taxes on your earnings plus a 10% additional tax.

Required minimum distributions (RMDs)

RMDs do not apply during your lifetime.

Contribution limits buy age

2018: $5,500, 2019: $6,000 (under age 50)
2018: $6,500, 2019: $7,000 (age 50 or older)


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