Suze School: Revisiting The Five Year Rule For Roth Retirement Accounts
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
How to Qualify for the Five Year Tax Rule
All Roth IRAs, the IRS aggregates. What does that mean? You opened up a Roth IRA 10 years ago and you only were able to put in $100. Now you're making money and you haven't contributed to it for all these 10 years. Do you understand the difference? Because it's a big deal in understanding how long your Roth IRA really needs to be opened to qualify for the five year tax rule. A calendar year would be you opened it up December 31, 2021. One year would be December 31, 2022. The maximum that you can contribute per year is in 2022, $6,000 if you are under 50, $7,000 ifyou are 50
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