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 MoreCongratulations 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 MoreWhen I see advice like this my 'Spidey sense' starts to tingle and I worry the other advisor might be motivated to sell a product rather than give you good advice. If you have a need for life insurance during retirement, this . . . .
Read MoreBased on the information you provided, it appears a term policy is most likely the right policy for you. The extra money would probably be better used to build an emergency fund and then invest for . . . .
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