A Roth IRA is funded with "after-tax" money which allows qualified "tax-free" withdrawals as long as you meet certain conditions. Plus, you're not required to take distributions at any certain age, so you can continue to build balances until you need the money.
First Bank and Trust helps customers in Louisiana, Mississippi and Florida plan effectively for retirement using Roth and Traditional IRAs. Before opening an IRA, please consult your tax advisor for full details about its tax implications. Here's a snapshot of important guidelines.
Maximum Annual Contribution
Withdrawals of contributions and earnings are allowed without paying taxes or penalty if your Roth IRA has been open for 5 years AND one of the following applies:
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