Quantcast

Ask The Expert: Withdrawals

Q:
Asked by Barbara 11/30/15

Is it required to withdraw funds from a Roth IRA when one reaches 71?

A:
Answered by John Baumer 12/1/15
See other answers from this expert.
88 out of 88 people found this useful.

No, minimum distributions rules (RMDs) do not apply to the Roth IRA.  You won’t have to withdraw money at age 70 1/2.  That’s a big advantage to the Roth IRA-your Roth IRA can continue to grow tax-free!  However, your Traditional IRA or employer plans are generally subject to Required Minimum Distributions at age 70 1/2.

WAS THIS ANSWER USEFUL?

Leave a Reply

Your email address will not be published. Required fields are marked *