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Greetings, Mamcmann, and welcome.

<<So, our question is that if we establish our Roth IRA's now while we are below the $150,000 limit, then will we be able to continue and contribute to our Roth IRA's once we go over the $150,000 limit? We've gotten various answers to this question, but nobody seems to know for sure.>>

Contributions to a Roth will phase out when your combined AGI reaches $150K and will disappear entirely at $160K. However, you will be allowed to keep everything you have contributed in the Roth up to that period of time. All the earnings will continue to be tax deferred, and all the proceeds can ultimately be taken out tax free. In other words, although your contributions may not continue, the Roth itself can.

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