Would the earnings still be non-taxable?
Is the "5 year" period irrelevant if the person is disabled?
"What happens to my Roth IRA if I'm disabled?
If you're totally and permanently disabled, you can withdraw your Roth IRA earnings tax-free five years after you made the first contribution. The same stipulation applies if you are over 59 ½ years old. Until that time, you most likely will be subject to the 10% penalty tax applicable to early withdrawals."
"What if I need the money before retirement?
While you cannot borrow from an IRA, including a Roth IRA, you may be able to withdraw funds from it if you can accept paying a surcharge. Generally, withdrawals taken before age 59½ will be charged a 10% penalty. If you've had your Roth IRA for a minimum of five years, a series of exceptions are triggered. Exceptions to the penalty occur if you are totally and permanently disabled, or you set up a plan to make regular, equal withdrawals over your life. Other penalty exceptions are granted to pay health insurance premiums if you are unemployed, to pay certain higher education expenses such as tuition, room and board, or to help pay for a home if you haven't been a homeowner for at least two years. This exception carries a lifetime limit of $10,000. This means that if you withdrew $6,000 from your IRA for a down payment on a home eight years ago, sold it, have been renting for the past three years, and now want to use money from your IRA again to help with a down payment, you'll only be able to withdraw $4,000 without penalty."
https://www.financialengines.com/FeContent?&s=184a232d586763&pact=irgahmro&act=irgahmro#q15
News Story on NBC 6 on North Miami Beach Diabled Sports Program aired August 29, 2008.
A sports festival for the disabled has been held in Moscow. At the moment Russia is far behind many other nations when comparing standards of living for the disabled. But with the government starting to pay more attention to the problem and thanks to the efforts of enthusiasts, there are hopes the situation will soon change.
Barnsley & District Sports ociation for the Disabled
Telly Award Winning DSUSA Far West Promo Video
A video documentary of the 2007/2008 Disabled Sports Adaptive Snowsports Season at Alpine Meadows Resort in Lake Tahoe, CA
Sports for disabled
The ParaMobile enables people with a variety of mobility impairments the ability to access their favorite outdoor activity safely. It is FDA Cleared as a Class 2 Medical Device and it’s uses are only limited by your imagination. In the USA 603-860-7891 or Teachgolfeasy@aol.com for details.
Recent Comments