Understanding The Five Year Rule
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Orman Media
4.6 • 4K Ratings
🗓️ 2 May 2021
⏱️ 31 minutes
🧾️ Download transcript
Summary
On today’s episode, we get an in depth Suze School all about what the “Five Year Rule” means with regard to ROTHs.
Suze helps us to understand when we can make qualified withdrawals from our ROTHs and when the clock starts, so we don’t have to pay any taxes or penalties.
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Transcript
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| 0:00.0 | Hi everybody, Suzy Orman here and Katie and welcome to the Women in Money Podcast and everyone's |
| 0:06.0 | smart enough to listen. And both of us are so proud to have this podcast sponsored by a |
| 0:12.5 | Lyand Credit Union, the home of the ultimate opportunity savings account. This is where if you |
| 0:19.4 | simply go to myalliant.com and why all L I A and T dot com open an account and deposit $100 |
| 0:30.9 | a month every month for 12 consecutive months. What's going to happen Katie? Alliant is going to pay |
| 0:36.5 | you a bonus of $100. That is the place that both of us want you to save. So go to myalliant.com |
| 0:45.8 | and do what Katie? Look for Suzy and start saving now. |
| 1:15.8 | May 2nd 2021. So Suzy, oh here welcome to Suzy's school and today we are going to have Suzy's |
| 1:33.7 | school on Roth retirement accounts and something known as a five year rule that you really all need |
| 1:43.0 | to understand how that affects whether you can take money out of your Roth IRA, not only income tax |
| 1:51.4 | free but penalty free as well. So you better sit down and grab a cup of coffee because this is not |
| 1:58.9 | the most exciting topic but this is a topic that every single one of you needs to understand |
| 2:05.3 | because it really really affects if you're going to pay taxes and penalties on withdrawals from your |
| 2:12.2 | Roth retirement accounts whether it's a Roth IRA, a 401k403B or TSP, Roth you need to understand |
| 2:22.0 | the five year rule. So first of all I just want to say thank you all for the incredible emails |
| 2:31.1 | thanking us for our new course that we created called the three step reset. But what I realized |
| 2:38.8 | is that last week when we talked about it I didn't give you the place that you can go and get it. |
| 2:46.0 | So you're all emailing me saying Suzy where do we get the three step reset we all want to take it. |
| 2:51.9 | So you simply would go to Suzyormon.com slash hope and then you'll be able to sign up for it. It is |
| 3:00.3 | $27 for podcast listeners. Normally it is $54. So I think you'll love it again for those of you |
| 3:10.7 | who want a reset in terms of how you think feel and act with money. Can you just check that out? |
| 3:17.1 | It really really can change a whole lot in your life so that you do that which you know you should |
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