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Subject:  401K-IRA-Home Downpmt Date:  4/5/2000  6:18 PM
Author:  spoonster Number:  20962 of 105386

My wife & I are moving soon & I'm trying to figure out how to scrape the money together for the downpayment on our first home.

At my previous employer I still maintain my 401K with a balance of around $30K. From what I understand I can rollover this amount into an IRA and then withdrawl up to $10K for 1st time home owner costs.

My question is, can I create 2 IRA - one for my wife & one for me and then withdrawl $10K from each? Probably a dumb question but I thought I'd ask the experts.

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