But because Swanson was living in France where U.S.-based credit scores are meaningless, he’s been able to build up his business — including taking out new loans responsibly when needed — and live well without the overwhelming burden of his old debts.
—
Kamaron McNair,
CNBC,
13 Mar. 2025
When the funds are taken out, assuming at least five years have passed since the first contribution was made and the account owner is at least age 59 ½, withdrawals are tax-free.
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