I have read several versions of the meaning of the word Esopus. The one I like is that shop-us is an Algonquin term for flowing waters and high banks and the e was prefaced to make the word easier to pronounce but also because of the similarity with Asopus, the name of several rivers in ancient Greece.
The IRS tacks a 10 percent penalty onto other taxes due when you withdraw money from a traditional IRA before you are age 59 1/2. You can tap an IRA to pay unreimbursed medical expenses for yourself and members of your family.he same rules govern early distributions from a Roth IRA that apply to traditional IRAs. If the withdrawal meets the exception criteria for paying medical expenses or health insurance premiums when you lose your job, you donât have to pay the penalty.
A Roth IRA is an IRA that, except as explained below, is subject to the rules that apply to a traditional IRA. You cannot deduct contributions to a Roth IRA. If you satisfy the requirements, qualified distributions are tax-free.You can make contributions to your Roth IRA after you reach age 70 Â½.You can leave amounts in your Roth IRA as long as you live.The account or annuity must be designated as a Roth IRA when it is set up.ou can make contributions to your Roth IRA after you reach age 70 Â½. You can leave amounts in your Roth IRA as long as you live. The account or annuity must be designated as a Roth IRA when it is set up.