To: Pelham
My IRA is with Dreyfus. Six months ago I received a notice that only a certain dollar amount in MM was secure, iow, anything I had in MM above that number could be lost to me.
I turn 59 early this year. The date that I turn 59.5 I liquidate my IRA entirely.
70 posted on
01/03/2010 4:59:08 PM PST by
wtc911
("How you gonna get down that hill?")
To: wtc911
I wish I could liquidate my 401k, but I am nowhere near 59.5
73 posted on
01/03/2010 5:12:55 PM PST by
virgil
To: wtc911
MM funds never were intended to carry a guarantee. The Treasury announced that it would begin a temporary one in order to put an end to the panic that was developing after the Reserve Fund broke the buck.
You might want to talk to a CPA before you liquidate your IRA, you’re liable to incur some tax consequences.
88 posted on
01/03/2010 7:31:54 PM PST by
Pelham
(ObamaCare, it comes with a toe tag)
To: wtc911
Talk to your CPA - you won't have to pay the early withdrawal penalty, but what you withdraw will be counted as income...
153 posted on
01/04/2010 6:06:35 PM PST by
GOPJ
(You don't have to eat all of a rotten egg to know it's rotten.)
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