Tax-free withdrawals once you fulfilled certain criteria
You can still contribute even beyond the age of 70½ years
You may contribute $4,000 or up to 100% of your income whichever is less, as long as your Modified Adjusted Gross Income (MAGI) is within the limits shown below
After holding the Roth IRA for a five-year period, upon reaching age 59½, you may begin to take distributions from your Roth IRA and you will not pay any federal taxes on any of the contributions or earnings
Plus, with a Roth IRA, there is no mandatory age to begin making withdrawals
Open an IRA CD or IRA Investment Account
Roth IRA Single Filer - Modified Adjusted Gross Income
MAGI of $95,000 or less:
Full Contribution
MAGI between $95,000 and $110,000:
Partial Contribution
MAGI of $110,000 or more:
No Contribution
Roth IRA Married, Filing Jointly - Modified Adjusted Gross Income
All IRAs are fixed rate with the exception of the IRA Investment Account which is a variable rate product and subject to change after account is opened. Substantial penalty may be imposed for early withdrawal. All IRA yields above are subject to change without notice.
