Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev Thread | Next Thread
Author: bridgette107 Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121255  
Subject: Cash value account Date: 9/15/2004 6:00 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hi, My sister has 150,000 in a cash value account with her former employer, she wants to roll most of it over to an IRA of some sort for savings and also to use 50,000 to do some work on her house. She was injured in an accident and is not presently working or able to go to work.
Is there any type of a ret.account that she can access now w/o taxes, or minimal taxes. She has a side business and was thinking that maybe she could set something up to borrow her own money from it. Any suggestions or advice would be welcome.
Print the post Back To Top
Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 73322 of 121255
Subject: Re: Cash value account Date: 9/16/2004 12:15 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
She maybe able to avoid early withdrawl penalties, but any amount withdraw is taxable.

Debra

Print the post Back To Top
Author: bridgette107 Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 73323 of 121255
Subject: Re: Cash value account Date: 9/16/2004 1:31 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Thank you Debra, I appreciate your response.

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev Thread | Next Thread
Advertisement