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| Subject: Roth investing/withdrawing at 60 | Date: 3/14/2012 11:57 PM | |
| Author: SLONomad | Number: 70350 of 72499 | |
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I am over 59 1/2 and I have a Roth that has been open and funded for over 5 years. My income level allows me to contribute the full $6K per year. It seems to me that I should be maxing out my Roth contribution each year as every penny I make on Roth investments is tax free, correct? And there is also no limit on how much I can withdraw or when I withdraw. So, for example, I could have a dividend paying investment in my Roth that pays me quarterly, tax free, and I can withdraw those dividends for my use, also with no tax consequences or penalties. Am I correct? |
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