Quote:
|
Originally Posted by livecoug
that's good stuff steel, thanks!
|
Live here is a little of what the lady said concerning a roth....
So, it depends largely upon how long his time horizon is. Whether its long or short, truly it is a smart idea to have a Roth IRA. The Roth allows for the withdrawal of his principal anytime. It is the interest that can’t be touched without penalties or taxes. There are other advantages of the Roth, for example, five years down the road the interest (earnings) becomes tax-free. All of it can be withdrawn (including earnings) if the account has been opened for both 5 years and meets a qualified distribution.
A qualified distribution is:
1.) Distribution after age 59 ½
2.) Death distributions to beneficiaries
3.) Disability distributions
4.) 1st time homebuyer dist.
Don't know if that helps...
Any other questions I will be more than happy to shoot off her....