Message Font: Serif | Sans-Serif
No. of Recommendations: 0
My husband retired 7 yrs ago at age 52 and we had to roll over his IRA into stock. We invested approx. $247,000 in American Funds and annuities. We take out approx. $1,500 a month and now have around $395,000. First question do you think this has done alright? Second problem - Husband will turn 59 next week and we want to withdraw $140,000 when he is 59-1/2 to pay off the house and all bills so we can have more liquid assets. I know we will have a huge tax bill but will it be regular tax or capital gains or what? We have decided to take $70,000 this year and $70,000 next year will we have to fill estimated taxes? Thanks (this is my first time posting and as you can see I have lots of questions)
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.