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LogDog75

(173 posts)

14. I'm not sure he's talking about an IRA

Reply to HUAJIAO (Original post)

Sun Dec 15, 2024, 04:25 PM

Dec 15

If he has an IRA, is it a regular or Roth IRA.?
Under a regular IRA, you have to begin withdrawing at age 73. Since your friend is 81, he would have had to begin withdrawing at age 70.5. so this year he would have to complete the total withdrawal from his IRA.

If he has a Roth IRA, then he's not subject to the mandatory the withdrawal requirements as a regular IRA is.

If he's looking to move his money for protection of his assets, then at age 81 he'd probably do well putting it into treasury bills.

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Retirement funds question. [View all] HUAJIAO Dec 15 OP

Recommended forum for this question: Personal Finance and Investing mahatmakanejeeves Dec 15 #1

Thanks.. I'll post there also. HUAJIAO Dec 15 #4

The 12 month treasuries are "safe", although they might not outpace inflation. dawg Dec 15 #2

Do you think they are safe IN SPITE of trump, musk et al? HUAJIAO Dec 15 #3

Yes. dawg Dec 15 #8

"If we default on treasuries, our entire economy will collapse, and money will be useless anyway" HUAJIAO Dec 15 #11

Yes. Igel Dec 15 #13

If your safe investments lose value, then everything that you know will also lose value, and we will be in Mad Max world Yavin4 Dec 15 #5

If those tank, we will all be broke, houses will be worthless except to those living in them, stock market will tank Silent Type Dec 15 #6

You shouldn't have all your money in T bills and CD's, regardless of who is president Fiendish Thingy Dec 15 #7

Thank you for your advice. HUAJIAO Dec 15 #12

Isnt all this fear so sad? XanaDUer2 Dec 15 #9

I'm considering putting 1/3 of my money in MMFs bif Dec 15 #10

I'm not sure he's talking about an IRA LogDog75 Dec 15 #14