To make qualified distributions from a Roth IRA, you must be at least 59Â½ and it must be at least five years since you first began contributing. And if you converted a regular IRA to a Roth IRA, you can't take out the money penalty-free until at least five years after the conversion.
What is GAINFUL EMPLOYMENT? Condition of the employee receiving consistent work and payment from the employer. What a worker or college graduate seeks to provide consistent, continual income for self and family. Used in ranking colleges or universities as an attribute of the training and education received.
We use the term âsubstantial gainful activityâ to describe a level of work activity and earnings. Work is âsubstantialâ if it involves doing significant physical or mental activities or a combination of both. For work activity to be substantial, it does not need to be performed on a full-time basis.