Roth IRA

It's tax-free retirement income. Yes, you heard that right.

A Roth IRA helps you make the most of all that money you've saved.

Your golden years are supposed to be a time of enjoyment and relaxation. Nobody wants to spend one precious moment worrying about tax bills. With a Roth IRA, all withdrawals after age 59 ½ are totally tax-free. That means more money for living expenses, travel experiences, favorite hobbies, all the grandkids and everything else on your to-do list. 

• Contribute up to $7,000 per year - up to $8,000 if age 50 or over. (Initial contributions are not tax-deductible.)
• All annual dividend and interest earnings are tax-exempt
• All withdrawals after age 59 ½ are tax-free
• You may access your own contributions - but not interest or dividend earnings - before age 59 ½ without penalty
• You may access contributions and earnings before age 59 ½ under special circumstances, including buying a first home or becoming disabled 
• There is no minimum withdrawal requirement at age 73, as there is for Traditional IRAs
• As long as you are working - even into your 70s - you may keep making contributions to your Roth IRA
• Consult with your financial advisor or a PFCU representative for more information on Roth IRAs to see if they are right for you

Additional Resources

• Explore the tax implications for Individual Retirement Accounts: IRS: Frequently Asked Questions about IRAs.
• Talk to one of PFCU's Investment Consultants.