2007-02-12 01:55:09 · 3 answers · asked by AKA WTA 2 in Business & Finance ➔ Taxes ➔ United States
The great thing about a Roth is qualified withdrawals are completely tax free. The principle was taxed when you put it in the account and the yield (interest earned) is never taxed.
Best deal going.
2007-02-12 11:57:26 · answer #1 · answered by loandude 4 · 2⤊ 0⤋
No, since the Roth money would have been taxed "on the way in".....and that age would be 59 1/2.
this is the primary difference between the Roth and the "traditional IRA". the traditional is taxed on the way out.
2007-02-12 10:03:25 · answer #2 · answered by Matt K 4 · 1⤊ 0⤋
As of now, no. However, if you are retiring in 30-40 years, the government may change the rules depending on their needs for your money.
2007-02-12 10:19:37 · answer #3 · answered by MinstrelInTheGallery 4 · 1⤊ 0⤋