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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.
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.
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).
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).
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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