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Hi, dikjones. I did some research recently and found that you can move IRA money into a Roth IRA, do it before the end of the year and you only have to wait 4 years to take it all out, without taxes or penalty. (In effect, you save a year by opening the Roth IRA at the end of the year.) You can take the CONTRIBUTION amount any time without taxes or penalty; it is only the EARNINGS that you have to wait the 4 years to get w/o penalty.

Even better, once you have at least some money that qualifies for the Roth IRA five year rule, you can take out any and all money you transfer from a regular IRA to a Roth IRA without taxes or penalty, and you don't have to wait the five years (or four if you do it at the end of a year) to take out the later contributions and/or earnings!

Think about it.

Tom Grace
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