Reported 1 day ago
John, over 59½ and with a Roth IRA open for more than five years, inquires about withdrawing from his Roth conversion without penalties. Financial advisor Brandon Renfro clarifies that John's understanding is correct; he can withdraw contributions, earnings, or converted funds without facing taxes or penalties. He also explains the two five-year rules: one for contributions and another for conversions, which no longer apply due to John's age and account tenure. This allows him to make qualified withdrawals without worry.
Source: YAHOO