Distribution from traditional IRA

Anything that might not belong on the other message boards!

Moderator: Team Cub

Forum rules
1. Keep it clean.
2. Keep the discussion civil.
3. Name calling is not allowed.

Politics and religion are two topics that tend to degenerate into a violation of one of the three simple rules above.

The mods and the site admin reserve the right to "lock" or "delete" any discussion that in our opinion, is "heading in the wrong direction."

MOST of all, be respectful of your fellow Cubber's opinions. Don't expect to change someones belief system from a simple forum on the internet.

Distribution from traditional IRA

Postby Bus Driver » Wed Nov 13, 2013 7:55 pm

Never had a pension. So years ago I made some preparations on my own to hopefully be able to eat at least twice a day after the days of employment ended.
Most folks take their distributions late in the year, especially since this year has seen rather steady rises in the investment indexes. Those over 70 1/2 must take distributions of the proper amounts or face severe financial penalties.
In addition to the tax consequences of the timing of the distribution(s), mutual funds have dates when they distribute their dividends and capital gains. It is highly advisable to determine those dates before specifying the date you wish to take your distribution. My advice is to take your distribution after the dividends and capital gains have been credited to your account. If you do not know those dates, call and ask them. Could mean more money left in your account after the required minimum distribution.
Hey, more money means more Cub stuff for you!
Luck favors those who are prepared
User avatar
Bus Driver
Team Cub Mentor
Team Cub Mentor
 
Posts: 2617
Joined: Sat Feb 11, 2006 5:26 pm
Location: NC

Re: Distribution from traditional IRA

Postby Don McCombs » Wed Nov 13, 2013 8:01 pm

Good advice.
Don McCombs
MD, Deep Creek Lake

"1950 Something" Farmall Cub
1977 International Cub w/FH
1978 International Cub
1948 Farmall Super A
1951 Farmall Super C w/FH
User avatar
Don McCombs
Team Cub Mentor
Team Cub Mentor
 
Posts: 10366
Joined: Mon Feb 03, 2003 6:45 am
Location: MD, Deep Creek Lake
Zip Code: 21550
Tractors Owned: "1950 Something" Farmall Cub
1977 International Cub w/FH
1978 International Cub
1948 Farmall Super A
1951 Farmall Super C w/FH
Circle of Safety Award
Circle of Safety: Y


Return to Off Topic

Who is online

Users browsing this forum: No registered users and 2 guests