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|Subject: After Retirement??||Date: 8/31/1999 9:28 AM|
|Author: BGPenhollo||Number: 13552 of 78166|
I apologize if this is posted to the wrong board. If so, please point me to a more appropriate board.
My mother,73, recently asked me to help her with her investments.
After my initial review, I think there are two areas that might be better for her.
From a very cursory exam of her income, I know her tax rate is more than the minimum 15% but less than the 28% rate. She has money invested in fed tax exempt govt securities mutual funds - two to be precise. I believe she'd be better off moving that investment into the short term bond fund she already owns - Morningstar ranks her short term bond fund as five star. Does this appear to be a better direction or is there some other issue I should look at. My mother's mutual funds are not held within an IRA.
Also she was talked (I prefer the term scammed) into rolling over my father's Keogh Plan into a Variable Annuity IRA. I know very little about VA's because I can not see them meeting a need I have. From the little I have read on Motley Fool, VA's within an IRA make about as much sense as buying Tax Exempt Bonds for an IRA.
My mother, I believe, has held the VA beyond the initial 5 year surrender fee. My questions are:
Can my mother roll out of the VA into a mutual fund still within the IRA? If so, how is this done?
How do we calculate her annual withdrawal from an IRA now that she