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This post is all about Part I.

A little terminology issue here.

If you have a Traditional IRA, you can convert it to a Roth IRA if your income falls within limits based on your filing status. These limits are not all the same as the limits for contributing to a new Roth IRA.

But if you change "recharacterize" to "convert", and change "eligible to contribute" to "eligible to convert", then your intuition is correct.

A small point on (d): Withdrawals from an IRA are tax-free as long as the circumstances of the withdrawal match what the IRS allows. However, tax laws may change in the future to narrow the definition of allowable withdrawals.

Another point on (d): You probably won't be withdrawing the whole IRA balance right at age 59. In fact, since the IRA is tax-deferred, you may wish to wait as long as possible before withdrawing from it!
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