UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
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 75340  
Subject: Re: A few newbie Fool questions Date: 8/6/1999 9:27 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
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
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
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 "#1 Media Company to Work For" (BusinessInsider 2011)! 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