The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Rollover 401(k) to Roth IRA?||Date: 1/16/2005 4:24 PM|
|Author: 3muttsmom||Number: 44057 of 81956|
My plan had been to move the RMD from an inherited IRA to ING Direct for monthly dispersal to our checking.
I guess I don't understand. You're moving money from the IRA each month to the ING then almost immediately moving it to your checking account?
Why would you want to bother, anyway? I can't imagine that a few days interest would be that big a deal, so the ING would be offering you no advantage.
The ING is a savings account - hence the regulatory requirement of less than 6 withdrawals each month.
As Fuskie said, this is meant to be used for long term funds that you want to keep safe. It's not a transaction account.
I think the direct ACH from Vanguard to your checking account makes sense for what you're trying to do.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|