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Retirement Withdrawals and Taxes on Roth IRA Accounts
The hosts discuss the tax implications of withdrawing from a Roth IRA account, explaining that if the account has been open for at least five years and the account holder is at least 59 and a half years old, no taxes or penalties apply. However, if the account hasn't been open for five years or the account holder is younger than 59 and a half, income tax and a 10% penalty may apply.
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