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Old 01-16-2015, 07:05 PM
 
Location: SW US
2,218 posts, read 2,036,207 times
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So, after decades of saving, now I have to withdraw money that I don't need from my IRA . It's a rather small amount. My plan is to continue to save so that I can afford decent care when I need it.
Would appreciate thoughts on what to do with the money I have to withdraw. A deferred annuity maybe, except I don't know when I might need the money.
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Old 01-16-2015, 07:58 PM
 
Location: Southern California
372 posts, read 448,408 times
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Why not just put it into an after-tax savings account?
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Old 01-16-2015, 08:01 PM
 
29,782 posts, read 34,876,173 times
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After withdrawal taxable account that mirrors the account it came out of and won't change your asset allocation much.
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Old 01-16-2015, 08:57 PM
 
Location: SW US
2,218 posts, read 2,036,207 times
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Quote:
Originally Posted by TuborgP View Post
After withdrawal taxable account that mirrors the account it came out of and won't change your asset allocation much.
That's what I was thinking about too.
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Old 01-16-2015, 08:58 PM
 
Location: SW US
2,218 posts, read 2,036,207 times
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Quote:
Originally Posted by Goin' Coastal View Post
Why not just put it into an after-tax savings account?
A savings account doesn't even keep up with inflation.
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Old 01-16-2015, 09:44 PM
 
14,260 posts, read 23,995,588 times
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Quote:
Originally Posted by Windwalker2 View Post
A savings account doesn't even keep up with inflation.

You out it into an after-tax account invested in the same way as you had it invested in your IRA/401(k).
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Old 01-17-2015, 06:31 AM
 
29,782 posts, read 34,876,173 times
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Quote:
Originally Posted by Windwalker2 View Post
That's what I was thinking about too.
This is a topic that could well fit into a thread on retirement with pensions as they provide a fixed income stream level that others have to construct. MathJak and I have had this discussion as our results might be similar but how we get there and manage could be very differently.
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Old 01-17-2015, 08:55 AM
 
Location: Prescott AZ
6,125 posts, read 9,086,149 times
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I have two Scottrade accounts. One is an IRA and one is not. When I have to take out the RMD, it just lops over into the non IRA account. So easy. I never see it cause I don't need it (yet).
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Old 01-17-2015, 09:26 AM
 
29,782 posts, read 34,876,173 times
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Quote:
Originally Posted by PhxBarb View Post
I have two Scottrade accounts. One is an IRA and one is not. When I have to take out the RMD, it just lops over into the non IRA account. So easy. I never see it cause I don't need it (yet).
Bada Bing!
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Old 01-17-2015, 02:59 PM
 
Location: Southern California
372 posts, read 448,408 times
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Quote:
Originally Posted by Windwalker2 View Post
A savings account doesn't even keep up with inflation.
That is correct, but you said it was a rather SMALL amount. I wouldn't worry too much about a small amount keeping up with inflation.
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