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Savings Roth IRAs

Although contributions to a Roth IRA are not tax deductible, there are definite tax-related advantages. Funds can be withdrawn after the age 59 1/2 tax- and penalty-free provided the account has been open for at least five years. Withdrawals prior to the age of 59 ½ can be made without an IRS penalty for certain reasons such as a first-time home purchase or higher education expenses. Please consult your tax advisor for more information.