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Reply to "What's the point of an IRA"
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[quote=Anonymous]A [u]Roth[/u] IRA grows tax free. That means once you reach 59.5 anything you take out isn't taxed -- original contributions and growth. Tax free is really tax free. You can also take any of your original contributions out tax free at any point, as long as they've been in the account for at least 5 years. With a traditional IRA, you still have to pay taxes and can't take anything out without penalty.[/quote]
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