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WHAT IS A ROTH IRA?
A nondeductible account that features tax-free withdrawals for certain distributions reasons after a five-year holding period.

AM I ELIGIBLE FOR A ROTH IRA?
Basically, there are two requirements for eligibility to contribute to a ROTH IRA:
  • You must have earned income (or your spouse )

  • Your modified adjusted gross income MAGI) cannot exceed certain limits


  • HOW MUCH CAN I CONTRIBUTE?
    Up to 100% of your earned income or $2000.00, whichever is less, as long as your MAGI is within prescribed limits

    DO I PAY TAXES ON MY EARNINGS?
    No, provided you take the earnings as part of a qualified distribution

    WHAT IS A QUALIFIED DISTRIBUTION?
    You must meet a five-year holding period for your ROTH IRA. After that, any earnings you with draw for a qualified distribution reason are tax free and IRS penalty free.

    HOW DO I OPEN AN ROTH IRA?

    Simply come in and see any or our IRA representatives, or call at 1-906-341-4600.


    You can also use the calculators to help you.

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