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Save time accessing your account information by registering for online access here. It’s fast, secure, and convenient!
Give the gift of investing and get rewarded! Spread the word to friends and family! When they open a Forge Trust account, you’ll both be eligible for a choice of a $100 Amazon or VISA gift card. Refer now.
With a Roth IRA, you make contributions with money on which you have already paid taxes. Your money can then potentially grow tax-free, with tax-free withdrawals in retirement, provided that certain conditions are met.
Plan Benefits:
Is this retirement account right for you?
Earnings grow tax-free
Tax-free withdrawals, if qualified
No required minimum distributions
Contributions are protected from creditors
Can be paired with another retirement plan
Eligibility:
Available to individuals with no age limit
Must have earned income to contribute
2022 & 2023 Contributions:
After tax contributions grow tax and penalty-free with a maximum contribution of $6,000 ($7,000 if age 50 or older) for 2022 and a maximum contribution of $6,500 ($7,500 if age 50 or older) for 2023. Contribution eligibility is based on your modified adjusted gross income (MAGI).
Investment returns or gains:
Investment Returns or Gains:
After age 59 ½ investment returns can grow tax-free and penalty-free if the account has been open at least five years.
Funding Your Account:
Contribute earned income after tax
Roll over after tax funds from a 401(k)
Transfer from another Roth IRA
Convert a Traditional IRA to a Roth IRA
Withdrawals:
Tax-free and penalty-free at any age
Subject to the five-year rule; a waiting period on three types of withdrawals: if you withdraw account earnings, if you convert a traditional IRA to a Roth, and if a beneficiary inherits a Roth IRA
After tax contributions grow tax and penalty-free with a maximum contribution of $6,000 ($7,000 if age 50 or older) for 2022 and a maximum contribution of $6,500 ($7,500 if age 50 or older) for 2023. Contribution eligibility is based on your modified adjusted gross income (MAGI).
Investment returns or gains:
Investment Returns or Gains:
After age 59 ½ investment returns can grow tax-free and penalty-free if the account has been open at least five years.
Funding Your Account:
Contribute earned income after tax
Roll over after tax funds from a 401(k)
Transfer from another Roth IRA
Convert a Traditional IRA to a Roth IRA
Withdrawals:
Tax-free and penalty-free at any age
Subject to the five-year rule; a waiting period on three types of withdrawals: if you withdraw account earnings, if you convert a traditional IRA to a Roth, and if a beneficiary inherits a Roth IRA
