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Author: edcosoft Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 77135  
Subject: Re: A few newbie Fool questions Date: 8/6/1999 9:27 AM
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Zev is RIGHT ON target. ROLL IT ALL OVER completely tax free, then if you need some cash take just that much out of the RollOver IRA, but there must be better ways to pay off the credit cards, as he suggests. Even the CC debt isn't as bad as the taxation and penalties and they will withhold on top of that!!! Why tax and penalty the whole amount just to turn most of it around into tax free accounts? ROLL IT OVER on a DIRECT AGENT TO AGENT TRANSFER---NOT through or to you where they deduct 20% withholding!
Waterhous is excellent choice. $12 /trade
Bag the Education IRA, at least for now. Max your own and then decide if you would be better off using your own Roth for this than losing (some) control of the funds in the future. Congrats on your good fortune. Ed
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