Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
mvsopen wrote:

(By law, they all must be exhausted before age 72).

-----------
If your financial advisor is telling you this, you need a new advisor. At least for traditional IRA's and 401K's you don't even have to make a withdrawal until age 70 1/2.

As to whether to pay tax now or later, there is a possibility you could be in a higher tax bracket in retirement. I still prefer the greater growth from compounding tax deferred. Also consider that if you become truly wealthy you could leave the IRA's to charity and completely cheat the taxman.

Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
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.
Advertisement