Good news, there is a way to accomplish your goal. Sort of bad news, using rule 72(t) won't help and yes, withdrawals from an IRA will impact ACA tax credit eligibility. Although the strategy you've outlined won't work, you can accomplish the same goal through converting a portion of the traditional IRA to a ROTH IRA. This is done by rolling over . . . .Read More
Congratulations on getting your son through college and on moving forward toward your retirement. You definitely need to hit the gas on your retirement savings and it seems like you are well poised to do this. Fortunately, the money which was dedicated toward your son's college can now be focused on your retirement.
At this stage you will want to invest . . . .Read More
You seem to be doing well with your overall financial plan. So, while the financial world is confusing, you seem to be doing a good job of conquering it. The next step would be to look at your other goals and begin to prioritize . . . .Read More
You have three choices for the funds in your old 401(k) plan. The two you mentioned (leaving it where it is or rolling it over to your new employer) and rolling it over to an IRA. The best option for you would depend on several . . . .Read More
I encourage the two of you not to consider this as an either/or situation, but instead use the money to provide for multiple goals. Focus on multiple goals to help you achieve both financial stability and a happier life . . . .Read More
While there are some key differences between the plans, it is the underlying investment options and fees which should really drive this decision. Each of the plans will have predominantly the same …Read More