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What are the differences between Traditional IRAs, Roth IRAs and savings accounts?

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What are the differences between Traditional IRAs, Roth IRAs and savings accounts?

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A qualified distribution is any payment or distribution from your Roth IRA that meets the following requirements. 1. It is made after the 5-year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for your benefit, -AND- 2.

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