Penalty goes away at 59 1/2. Taxes do not, unless it is Roth.

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May 20, 2022
3:59:06pm

Mexicougazul All-American

Penalty goes away at 59 1/2. Taxes do not, unless it is Roth.

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Mexicougazul

Bio page: Mexicougazul
Joined: Jan 6, 2014
Last login: May 3, 2024
Total posts: 4,497 (10 FO)

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Messages

Author

Time

Someone I'm close to asked me what she needs to do to liquidate her IRA to stop

gwalker

5/20/22 3:57pm

How old is she?

Indy Coug

5/20/22 3:58pm

60

gwalker

5/20/22 3:58pm

At 60 she could need these funds for 25+ years. Selling and going to cash isn't

5/20/22 4:02pm

Penalty goes away at 59 1/2. Taxes do not, unless it is Roth.

5/20/22 3:59pm

I would tell her to keep it all in and/or meet with an advisor to know how/where she should rearrange the specific funds

RootieBoy

5/20/22 3:59pm

She doesn’t have to withdraw the money. She can just sell.

allaboutthegainz

5/20/22 3:59pm

Although, that’s still not a good decision if she doesn’t need the money for the

allaboutthegainz

5/20/22 4:00pm

Liquidating her IRA (converting equity to cash/bonds) differs from withdrawing

BYU'01

5/20/22 4:02pm

Classic case of buy high sell low.

Cougarclaw

5/20/22 4:03pm

Wouldn’t say no matter what. I wish I had emptied 20k out of my 401k at the beginning of the week and put it in iBonds

greatbam

5/20/22 4:10pm

In March/April 2008 everyone's deferred compensation accounts at my office lost half their value. I was at lunch with

Smack'sWife

5/20/22 4:14pm

She needs someone who knows a bit about stocks to

I'mBatman

5/20/22 4:19pm

Someone with her sophistication should be 100% in a broad index fund. Nobody

BYU'01

5/20/22 4:25pm

Yes but that index fund could be heavily invested

I'mBatman

5/20/22 4:35pm

“Broad index” = representative sample of total stock market; no single industry

BYU'01

5/20/22 4:41pm

Look at some high dividend stocks rather than liquidating. At 60 she should be

jvquarterback

5/20/22 4:21pm

RE: Someone I'm close to asked me what she needs to do to liquidate her IRA to

hedge50

5/20/22 4:50pm

If she doesn't need the money until 65+ there's no need to withdraw or even sell

NOCAL_YFAN

5/20/22 5:53pm

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