Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Now my question. Dave has an old IRA with about 10,000 in it. Can we take a cash lumb sum and just close this account? This would be the year to do it. I could put the money into something I could get at.

The only caveat is that if the IRA is in a CD there could be an early withdrawal penalty. Talk to the brokerage or bank or mutual fund company which is holding your monty and ask them if there's any fee or penalty for withdrawal. If there's any kind of penalty or fee, you might still want to withdraw the money, but you need that info to make an informed decision.

Good luck...
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.