Posted: 10/31/2005 2:48:26 PM EDT
| I have a lady friend that is receiving a large chunk of cash that HAS to be transferred into an IRA. There are no 2 ways about it, it has to be protected in an IRA. She does not have an IRA now, but is planing on opening one. The money will only be in the IRA for a short time, as she is going to withdraw it to pay either for a house or a chunk of land. What are her options for opening a new IRA, and what is she looking at in taxes to withdraw. |
Ding ding. GUNGUY gets a cookie.  ... and NEVER give your money to a banker to invest. Go to Edward Jones, Prudential, Principle, State Farm, Farmers insurance Group, All-State, or almost ANY securities rep. Fuck banks. They want your money to sit on. Period. They dont care how much YOU make. They care about how much THEY make. If the money is now in an IRA, she can roll over some of it. She is going to have to pay some taxes and early withdrawal fees and there really is no way around it. GO TALK TO A SECURITIES INVESTMENT REP!!!
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