LemmyKnowsBest@lemmy.world to Personal Finance@lemmy.mlEnglish · edit-27 months agoIf I start a Roth IRA in a couple weeks, and keep contributing $7k per year to it, for years & decades, When will it pay off? When can it be money for me to spend?message-squaremessage-square5fedilinkarrow-up111arrow-down11file-text
arrow-up110arrow-down1message-squareIf I start a Roth IRA in a couple weeks, and keep contributing $7k per year to it, for years & decades, When will it pay off? When can it be money for me to spend?LemmyKnowsBest@lemmy.world to Personal Finance@lemmy.mlEnglish · edit-27 months agomessage-square5fedilinkfile-text
minus-squareaedyrlinkfedilinkEnglisharrow-up12·7 months agoOverview is here https://www.irs.gov/retirement-plans/roth-iras , but generally 59 and 1/2 is when you can start taking distributions without penalty.
minus-squareLemmyKnowsBest@lemmy.worldOPlinkfedilinkEnglisharrow-up4·7 months ago59.5 years old. Got it.
Overview is here https://www.irs.gov/retirement-plans/roth-iras , but generally 59 and 1/2 is when you can start taking distributions without penalty.
59.5 years old. Got it.