Jeff, a retiree, is confused about withdrawing money from his Roth IRA. He's got about $1.4 million saved for retirement and is looking at Roth conversions to make withdrawals easier. He's getting conflicting advice on the rules.
- Roth IRAs let you withdraw your own contributions tax-free anytime.
- There are rules about withdrawing earnings, but it's tricky.
- Jeff is over 59 1/2, so many rules don't apply to him.
| Question | Answer |
|---|---|
| Can Jeff withdraw from his Roth IRA? | Yes, anytime, tax-free. |
| What about earnings? | Complicated rules, but his age makes it easier. |
| Is there a five-year rule? | Yes, but this doesn't apply to Jeff due to his age |
