Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

8 Crucial Things Most Retirees Don’t Know About Taxes in Retirement

May 22, 2020 · Saving & Spending

Withdrawals from Roth IRAs

Question: Are withdrawals from Roth IRAs tax-free once I retire?

Answer: Yes, in most cases. One of the biggest advantages of Roth IRAs is that all your contributions are made with after-tax dollars, instead of pre-tax dollars used for 401(k) and traditional IRAs, therefore, you are allowed to withdraw your money whenever you want, for any reason, without tax or penalty.

There are some things you have to comply with, however, to enjoy such benefits. First and foremost, you need to follow the 5-year rule for opening the Roth (to have had the Roth for five years or longer). Secondly, you must be at least 59½ to be able to make withdrawals without paying a 10% early-withdrawal penalty tax on the earnings that you withdraw.

Pages: 1 2 3 4 5 6 7 8 9

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A smiling senior woman stands outside near a porch surrounded by lush garden greenery, hiking boots, and a warm mug. 12 Things to Do Instead of Watching TV All Day in Retirement
  • Shocked older man holding a landline phone receiver while reviewing financial bills at a kitchen table. 8 Things to Do the Moment You Realize You've Been Scammed
  • A smiling senior woman buys fresh vegetables from a vendor at a bustling outdoor farmers market. Farmers Market Vouchers for Low-Income Seniors
  • Adirondack chairs on a wooden deck overlooking a misty lake with a dock, canoe, and lakeside cabin at sunrise. 7 Lakefront Towns Where Retirees Get More House for Less
  • Senior man sitting at a wooden kitchen table reviewing a Social Security document with a pen, glasses, and calculator. 7 Ways Retirees Waste Their COLA Raise Every Year
  • A senior man reviews financial paperwork at a wooden table with a planner, budget sheet, and coffee mug. 5 Things Every Retiree Should Check Monthly
  • Senior couple sitting at a wooden kitchen table reviewing Medicare summary notices and financial documents. Medicare Changes in 2027: What You'll Actually Pay
  • A senior man sits at a wooden table reviewing a Social Security Administration statement with a pen and notebook. Why So Few Retirees Qualify for Social Security’s Biggest Possible Monthly Check
  • A woman reviews a retirement planning calendar and binder at a sunlit wooden table near a window. Key Retirement Milestone Ages Most People Miss
  • Mature couple sitting at a wooden kitchen table reviewing a calendar and open notebook with a cup of coffee. The Average Social Security Check by Age

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

An editorial illustration of a retired couple rolling back a rug to reveal hidden wealth and resources beneath their floorboards.

The Retirement Benefits Beyond Traditional Checks – Find Them Here!

Discover overlooked retirement benefits, from healthcare grants to property tax freezes, that can stretch your…

Read More →
A smiling retired couple enjoying a peaceful morning on their sunny outdoor deck.

11 Expenses You No Longer Need in Retirement

Discover the 11 major expenses that disappear in retirement, from commuting and payroll taxes to…

Read More →

Stay Away From These 15 Deals When Shopping at Walmart

Discover the 15 worst deals at Walmart that drain your retirement budget, from electronics traps…

Read More →

7 Ways To Budget Your Groceries in Retirement

Meat – For those who are meat lovers, if you want to go organic it’s going…

Read More →

30 Electronics That Are Hiking up Your Electric Bill for No Reason

Audio/Visual Gear Audio devices like amplifiers, stereos, boom boxes and internet radio receivers are easy…

Read More →
A happy retiree enjoying a quiet afternoon on her porch with a book and tea.

9 Retirement Purchases That Feel Worth It—And 7 That Don’t

Discover the smart retirement purchases that bring lasting joy and health, plus the common spending…

Read More →

10 Things to Know Before Spending Big

Can I afford to pay for it? Credit cards can make us feel like this…

Read More →

Did You Know These 12 Facts About Annuities That Could Help Your Finances?

A smiling senior couple meets with a financial advisor to discuss tax-free annuity swap options.…

Read More →

If You Want to Retire Early Cut These 5 Expenses Now!

Eating out This has probably crossed your mind while reading our previous point. Eating out…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.