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.
Definition of Substantial Gainful Activity. For a claimant to be considered disabled the SSA must determine they cannot perform substantial gainful activity (SGA). How much work does a claimant have to do to be considered substantial and gainful? There are two parts to this question. First, work is considered gainful if the claimant is earning $1,040 (gross earnings per month) for non-blind disabled applicants, and $1,740 for blind applicants (gross earnings per month). Next the SSA will evaluate whether a claimant's work is substantial.