Roth IRAs

Unlike a Traditional IRA, you'll pay taxes as you contribute to your retirement plan so that during retirement you can withdraw tax-free ^[1],[2]

You can withdraw tax-free, five years after your first Roth IRA contribution and if you are 59½ years old

Make non-deductible contributions of up to $7,000 during the 2025 tax year

• Individuals age 50 and older may make contributions of up to $8,000
• However, tax-free and IRS penalty-free qualified distributions may occur before the above guidelines due to special circumstances like a first time home purchase, disability or death

You can continue to make contributions to a Roth IRA up to any age, provided you have working income. Unemployment, pension income, social security do not qualify

Roth IRAs are not subject to the traditional IRA rules for required minimum distributions at age 72, and you are not required to take distributions from your Roth IRA during your lifetime

If you previously had a Traditional IRA and wish to covert to a Roth IRA, you can convert or roll over without paying IRS 10% penalty. Any withdrawals needed for fees or other costs incurred are treated taxable income

After the death of the IRA holder, specific death distribution rules apply