I have been checking the rules for IRA withdrawals. So far, my understanding is that you can withdraw from a traditional IRA , and pay tax but no penalty, if you are over 59.5 years. How long the money has been in the IRA has no bearing on this.
Likewise, with a Roth, you can withdraw money, tax and penalty free, if you are 59.5 yo, OR have had the account open for five years.
Is this accurate?
Thanks for any help.
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