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re: Taking contributions out of Roth IRA to buy land (updated 5/28/24 - not Roth)
Posted on 2/1/24 at 3:56 pm to kywildcatfanone
Posted on 2/1/24 at 3:56 pm to kywildcatfanone
5% is a pretty aggressive withdrawal rate in retirement. Roth $ is best left untouched for tax free growth and so you can optimize taxes in retirement using Roth as tax free on top of other sources and to stay under income limits for benefit eligibility, tax brackets, SS taxation etc.
Do you have any cash or taxable investments you could use instead?
Do you have any cash or taxable investments you could use instead?
1
Posted on 2/1/24 at 4:07 pm to TorchtheFlyingTiger
quote:
Do you have any cash or taxable investments you could use instead?
Yes, I'm fully vested in my company plan (403b), as well as a private IRA I've had for 20 years. I have about 30% of the total in cash if I wanted to use it, but I really didn't want to use cash to pay for the land. I guess I just didn't want to deal with taxes on taking out a lump sum like that from the traditional account?
Is that a better move if I want to pull money out, pull it out of the taxable account?
This post was edited on 2/1/24 at 4:19 pm
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