Roth IRA contributions can be withdrawn anytime without taxes or penalties. Converted Roth IRA funds are tax- and penalty-free after five years from Jan. 1 of the year of the conversion.
Traditional and Roth IRAs have different tax benefits, income eligibility, and withdrawal rules. Here is how traditional and Roth IRAs compare and how to determine which is right for you.
However, you should know the Roth IRA rules to maximize your savings ... Because Roth IRA withdrawals aren't taxed in retirement, they could help you pay fewer taxes in the long run ...