{"id":302,"date":"2021-09-14T17:42:36","date_gmt":"2021-09-14T17:42:36","guid":{"rendered":"https:\/\/nrccu.org\/?page_id=302"},"modified":"2024-10-17T07:41:58","modified_gmt":"2024-10-17T12:41:58","slug":"roth-ira","status":"publish","type":"page","link":"https:\/\/dev.wafishermn.com\/nrccu\/savings-and-checking\/investing\/roth-ira\/","title":{"rendered":"Roth IRA"},"content":{"rendered":"\n\n\t<p>A Roth IRA is a tax-qualified savings account for individuals that allows the account holder to set aside money for retirement. Both earnings on the account and withdrawals after age 59 \u00bd are tax-free.<\/p>\n<h2>Costs and Considerations<\/h2>\n<ul>\n<li>Income-eligibility restrictions<\/li>\n<li>Qualified distributions after reaching 59 \u00bd<\/li>\n<\/ul>\n\t<h2>Features and Benefits<\/h2>\n<ul>\n<li>Penalty-free, qualified distribution after reaching 59 \u00bd<\/li>\n<li>Roth IRAs do not require any withdrawals<\/li>\n<li>Roth Contributions can be withdrawn penalty- and tax-free at any time.<\/li>\n<li>Fixed rate at 0.75%<\/li>\n<li>Penalty-free distributions at age 59 \u00bd however, Roth IRAs require that the first<br \/>\ncontribution be made at least five years before the first withdrawal.<\/li>\n<li>There is no requirement for withdrawals during the owner&#8217;s lifetime. They can continue to grow tax free.<\/li>\n<li>Beneficiaries of Roth IRAs do not owe income tax on withdrawals and can<br \/>\nstretch out distributions over years.<\/li>\n<\/ul>\n\t\t\t<a href=\"\/contact-us\/\" target=\"_self\" rel=\"noopener\">\n\t\t\t\t\t\t\tAsk a Question\n\t\t\t\t\t<\/a>\n\t\t\t<a href=\"\/resources\/about-us\/join-northridge\/\" target=\"_self\" rel=\"noopener\">\n\t\t\t\t\t\t\tBecome a Member\n\t\t\t\t\t<\/a>\n<h2>\n\t\tYou Might Also Like\n\t<\/h2>\n\t\t\t<a href=\"\/savings-and-checking\/investing\/traditional-ira\/\" target=\"_self\" rel=\"noopener\">\n\t\t\t\t\t\t\tTraditional IRA\n\t\t\t\t\t<\/a>\n\t\t\t<a href=\"\/savings-and-checking\/investing\/certificate-of-deposit-cd\/\" target=\"_self\" rel=\"noopener\">\n\t\t\t\t\t\t\tCertificate of Deposit\n\t\t\t\t\t<\/a>\n\t\t\t<a href=\"\/resources\/about-us\/contact-us\/\" target=\"_self\" rel=\"noopener\">\n\t\t\t\t\t\t\tOur Locations\n\t\t\t\t\t<\/a>\n\n","protected":false},"excerpt":{"rendered":"<p>A Roth IRA is a tax-qualified savings account for individuals that allows the account holder to set aside money for retirement. Both earnings on the account and withdrawals after age 59 \u00bd are tax-free. Costs and Considerations Income-eligibility restrictions Qualified distributions after reaching 59 \u00bd Features and Benefits Penalty-free, qualified distribution after reaching 59 \u00bd [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":494,"parent":124,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-302","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Roth IRA - Savings Account | NorthRidge Community Credit Union<\/title>\n<meta name=\"description\" content=\"A Roth IRA is a tax-qualified savings account for individuals that allows the account holder to set aside money for retirement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.wafishermn.com\/nrccu\/savings-and-checking\/investing\/roth-ira\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Roth IRA - 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