Furthermore, the advantage of putting money into a Roth IRA is that an investor can withdraw qualified Roth IRA distributions, if they meet any of the following criteria:
The distribution must be taken under one of the following circumstances:
- the Roth IRA investor must be 59 and 1/2 years or older at the time of the distribution
- the Roth IRA investor becomes disabled at the time of taking the distributions
- the Roth IRA investor dies and his/her beneficiary receives the assets contained in the plan
- the distributions taken from the Roth IRA will be used in the purchase or building of a new home for the Roth IRA holder or qualified family member. This is limited to $10,000 per person per lifetime. Qualified family members include:
- the Roth IRA investor
- the Roth IRA investor's spouse
- children of the Roth IRA investor
- grandchildren of the Roth IRA investor
- parent or ancestor of the Roth IRA investor
Source: http://www.401klookup.com
Abdul Sumar
of AL
@
Oct 08, 2008 02:55:03 AM
401k
I'm currently married with a 401k plan and I would like to transfer my money over to another retirement plan like an IRA. Do I have to have my wife consent. I would like to transfer some money over and left some to my children.
Timothy Brantley
of NY
@
Oct 06, 2008 11:22:55 AM
401 k plan
My employer terminated my 401 k plan, what shoud i do?
Douglas Alvarez
of CA
@
Sep 28, 2008 18:12:38 PM
Response to Fred
Fred, I'm not sure I understand your dilema, and I would be happy to discuss as I am a Certified Financial Planner. You can reach me at mstar71@aol.com.
Mark S.
of CO
@
Aug 24, 2008 17:34:43 PM
Wrong
This Dimitriou character quoted in the article says "If you roll it over to an IRA, the only way you can get access is to pay taxes and the penalty," WRONG! Rule 72-t allows IRA holders to take out substantially equal periodic payments from an IRA prior to age 59 1/2 without penalty. Yet more misinformation by supposed experts.
Mark S
of CO
@
Aug 24, 2008 17:30:32 PM
Retiree 401K
When I retired at age 62 I left my 401K under the company umbrella with Fidelity. I have about 95 per cent in Fixed income and has been earning me about $1800.00 per month. It of course is very low risk and now I just turned age 67 and am not looking to anything with a whole lot of risk to it. I live pretty well on my SS and Pension. The only problem with this set up is that I can't touch any of it under the plan in place. I would have to roll it over to an IRA to get any of the money out. It's worth $440K as of now. Then I have to start to consider the age 70 thing that is coming at me.
Abdul Sumar of AL @ Oct 08, 2008 02:55:03 AM
Timothy Brantley of NY @ Oct 06, 2008 11:22:55 AM
Douglas Alvarez of CA @ Sep 28, 2008 18:12:38 PM
Mark S. of CO @ Aug 24, 2008 17:34:43 PM
Mark S of CO @ Aug 24, 2008 17:30:32 PM
Fred of FL @ Aug 16, 2008 14:37:38 PM
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