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Ask the Expert: Roth money taxed going in

Lynn Brenner

Lynn Brenner Lynn Brenner

Brenner answers questions about all aspects of family finance.

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I have $90,000 in an IRA. I know I'll be taxed heavily on any withdrawals. I need money for improvements in my second home outside New York. I've read if you put money in a Roth IRA, you must wait five years to withdraw it tax-free. But I'll soon be 66. At my age, if I transfer my money to a Roth IRA, must I still wait that long?

No. But that won't solve your problem.

If you're older...

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