IRAs

A Roth IRA offers tax-free withdrawals

With a Roth IRA, you get a future bonus: Every penny you withdraw in retirement stays in your pocket, not Uncle Sam's.

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What is a Roth IRA?


Other Roth IRA advantages

No RMDs

There are no required minimum distributions (RMDs) for as long as you live.

No age limit

You can put money in your account for as many years as you want, as long as you have earned income that qualifies.

No employer-plan restrictions

It doesn't matter if you're covered by an employer's retirement plan, such as a 401(k) or 403(b). As long as you don't exceed the IRS's income limits, you can still contribute the maximum annual amount to a Roth IRA.

For the 2021 and 2022 tax years, that's $6,000, or $7,000 if you're age 50 or older.

No taxes for your beneficiaries

You can pass your Roth IRA on to your beneficiaries, and their withdrawals will be tax-free.**


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*The 5-year holding period for Roth IRAs starts on the earlier of: (1) the date you first contributed directly to the IRA, (2) the date you rolled over a Roth 401(k) or Roth 403(b) to the Roth IRA, or (3) the date you converted a traditional IRA to the Roth IRA. If you're under age 59½ and you have one Roth IRA that holds proceeds from multiple conversions, you're required to keep track of the 5-year holding period for each conversion separately.

**If you inherit a Roth IRA, you must take RMDs, but they're tax-free as long as the original account owner held the account for at least 5 years.

**When taking withdrawals from an IRA before age 59½, you may have to pay ordinary income tax plus a 10% federal penalty tax. 

You may wish to consult a tax advisor about your situation.

Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.