If you have a Roth IRA, you know the benefits of this account. You can take distributions from it over your lifetime without paying any tax on the interest accumulated as long the distributions are considered to be “qualified.” This means that you must have had your Roth IRA for at least five years and be at least age 59 ½ when you begin to take distributions. But you also are not required to take money from the account which means you do not have to start taking required minimum distributions when you turn age 70 ½. If you don’t need the money in retirement, you can let it continue to grow, leaving it for your named beneficiaries.
