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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: doniam who wrote (17632)	12/28/2001 3:19:49 PM
From: Gary	Read Replies (1) \| Respond to of 18932

Don You are correct. You can withdraw your contirbutions to a Roth IRA after five years without taxation and without regards to age. Income taken prior to 59 1/2 would be taxed. As for planning, it is always difficult with changes subject to politicians' whims and the fact that lately, law changes are spread over a number of years. You have to plan based on the current laws in effect and just be flexible. Gary

To: doniam who wrote (17632)	12/30/2001 3:44:16 PM
From: rgammon	Respond to of 18932

Don, In a Roth IRA, your principle can be withdrawn tax-free at any time, one month later, one year later, or 3 years later. The earnings, dividends, and growth of the principle has to stay in the account for at least 5 years and you must be older than 59 1/2 or meet one of the other exceptions. The explanation on page 56 of this year's pub 590 (the one for preparing 2001 tax returns) is quite clear. Yep, the pendulum has swung quite far in the conservative direction. I expect the coming years will see the pendulum swing back the other way. A Nat Sales Tax or VAT represents a radical swing in the opposite direction (in my opinion). Robert