You can contribute to a self-directed Roth IRA at any age if you have taxable income and your income is below IRS limits for Roth IRAs. Your maximum allowable contributions may vary depending on how much you earn in a given year. Contributions must be included with your annual income, but they can be distributed at any time without incurring duplicate taxes or penalties. Unlike a Traditional IRA, a Roth IRA can accept contributions once you reach age 70½. You also won't have to take required minimum distributions.
Qualified distributions of earnings can be 100% tax-free. You must be at least 59½ years old and the Roth account must be at least five years old.
Like a Traditional IRA, your Roth account can grow tax-deferred. This allows you to re-invest 100% of your IRA profits into new assets if you so choose. You may convert a Traditional IRA or another such pre-tax plan to a Roth IRA. Converted cash or assets will be taxed as income but may grow with the full benefits of a Roth IRA thereafter.
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Investor's Guide to Roth IRAs
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