Description : If my wife and I open up an IRA this year and we are over 65 years old, how soon can we withdraw the funds w/o penalties?
Last Answer : First the question of set up. If you establish a ROTH IRA, there is no age limit, however, with a traditional IRA, the limit for establishing the IRA is 70.5. IRAs can only be finded by income ... as they accumulate as long as you begin withdrawal by April 1st of the year after you turn 70.5.