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jamiegumm:

I always thought that, upon retiring, one would start to take regular, equal periodic distributions from it annually, generally, but from what youre saying then one can somewhat randomly allocate it to a "sweep account," then transfer right over to checking?

Again, I'm over the age of 59-1/2, the age after which I can withdraw from my IRA without penalty. Taxes, maybe, but no penalty.

Again, do NOT accept my advice as worth much! It works for me -- period!

Yes, in my self-directed IRA, I can choose equal, periodic withdrawals -- or not. I choose not.

To use your example, say I needed a grand on January 9, and punched in that request in my IRA before 4:00 p.m. the day before (January 8) to transfer it to my checking account, or mail me a check or whatever. On January 9, there would be that grand, minus state or federal taxes, IF I elected to have them deducted. If not, there might be nothing deducted. Up to me.

Now, of course, at the end of the year, I MAY have to pay taxes then on my withdrawals, depending on overall income, deductibles, etc.

In other words, it is MY IRA to do with as I choose. Invest some or all in mutual funds or bonds or stocks of my choice, buy or sell equities when I choose to, etc., as long as I also pay commissions.

Again, that's a tricky thing! Should I be a jerk and do dumb things, I could lose all of my money!!! An advisor MAY be a damned good idea!

I studied all this for several years before dabbling, believe me, and I still make mistakes! But who doesn't? Name an "expert" who has done it all "right"!?

Vermonter
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