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re: IRA early withdraw to fund another. (Update)
Posted on 10/1/12 at 2:27 pm to Catman88
Posted on 10/1/12 at 2:27 pm to Catman88
quote:
Is the employer really going to match outside of her paycheck? Never heard of that.
My understanding (and I believe the OPs as well) is that the wife would increase her pretax contributions from her paycheck and the husband would cover the decrease in take home pay with the IRA money.
I don't think you can put after tax dollars in a 401k. Could be wrong though.
1
Posted on 10/1/12 at 2:48 pm to ZereauxSum
quote:
My understanding (and I believe the OPs as well) is that the wife would increase her pretax contributions from her paycheck and the husband would cover the decrease in take home pay with the IRA money.
This is correct. Over the next three months the wife will make enough to cover contribution, but if she is putting her entire paycheck in, he needs to subsidize her income with the early withdraw from his IRA.
Not sure about the vested question. Advisor should be calling me tomorrow.
This post was edited on 10/1/12 at 2:52 pm
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