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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?")
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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
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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)
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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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