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#4
11-16-2004, 08:11 PM
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 Re: IRA Withdrawals Question HW "Skip" Weldon wrote: - quote - > On Fri, 12 Nov 2004 11:57:33 CST, "Cal Lester"
You DO NOT want have to or want to Annuitize, when utilizing Minimum Distribution.> <cal-lester[at]comcast.net> wrote: > > Whether or not monthly income is available > > would be up to the trustee of the IRA. If it is > > a Mutual Fund, probably no problem, if it is > > an Annuity, DEFINETLY no problem. > Cal I meant to ask about this earlier. When dealing with minimum > distributions from an annuity/IRA, do you have to annuitize the entire > contract, or can you withdraw only the minimum and leave the balance > invested tax-deferred? > -HW "Skip" Weldon > Columbia, SC YOU instruct the Carrier EXACTLY how much YOU want withdrawn (to meet the minimum required). THEN, depending on the Carrier, they may or may not deliver it to you as a monthly income. Kalman J. Lester CLU |
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#3
11-16-2004, 03:11 PM
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| Re: IRA Withdrawals Question On Fri, 12 Nov 2004 11:57:33 CST, "Cal Lester" <cal-lester[at]comcast.net> wrote: - quote - > Whether or not monthly income is available
Cal I meant to ask about this earlier. When dealing with minimum> would be up to the trustee of the IRA. If it is > a Mutual Fund, probably no problem, if it is > an Annuity, DEFINETLY no problem. distributions from an annuity/IRA, do you have to annuitize the entire contract, or can you withdraw only the minimum and leave the balance invested tax-deferred? -HW "Skip" Weldon Columbia, SC |
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#2
11-16-2004, 12:11 PM
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| Re: IRA Withdrawals Question Thanks BMS and Cal for the information. I appreciate it. George George Nuetzel wrote: - quote - > I will be 70-1/2 in July 2005. I would like to withdraw the money as a > series of monthly payments based on IRS life-expectancy tables. > Also, if I would begin making withdrawals in July 2005 will I get just > six months of payments through December 2005? > I would like to put off withdrawals as long as I can without getting hit > with tax penalties. > Any help would be appreciated. > George |
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#1
11-12-2004, 04:57 PM
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| Re: IRA Withdrawals Question George Nuetzel wrote: - quote - > I will be 70-1/2 in July 2005. I would like to withdraw the money as
Whether or not monthly income is available> a series of monthly payments based on IRS life-expectancy tables. would be up to the trustee of the IRA. If it is a Mutual Fund, probably no problem, if it is an Annuity, DEFINETLY no problem. - quote - > Also, if I would begin making withdrawals in July 2005 will I get just
You can take out as much as YOU want. If you select> six months of payments through December 2005? Monthly Income, then it would begin in August thru Dec. - quote - > I would like to put off withdrawals as long as I can without getting > hit with tax penalties. You can DELAY Any withdrawal until you reach 72 1/2. At that time you MUST take the MRW (minimum required withdrawal). The trustee of the plan can guide you. Cal Lester CLU - quote - > Any help would be appreciated. > George |
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11-12-2004, 12:29 PM
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| Re: IRA Withdrawals Question If the money is with one company, contact them and they will give you the RMD payout and the options. If it is with more than one company then you may want to get advice about the most efficient way of taking the money. Check out http://www.irs.gov/retirement/articl...=96989,00.html to learn more. "George Nuetzel" <joanngeo[at]BCPL.net> wrote in message news:41949C2D.9FBD376[at]BCPL.net... - quote - > I will be 70-1/2 in July 2005. I would like to withdraw the money as a > series of monthly payments based on IRS life-expectancy tables. > Also, if I would begin making withdrawals in July 2005 will I get just > six months of payments through December 2005? > I would like to put off withdrawals as long as I can without getting hit > with tax penalties. > Any help would be appreciated. > George |
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#-1
11-12-2004, 12:05 PM
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| IRA Withdrawals Question I will be 70-1/2 in July 2005. I would like to withdraw the money as a series of monthly payments based on IRS life-expectancy tables. Also, if I would begin making withdrawals in July 2005 will I get just six months of payments through December 2005? I would like to put off withdrawals as long as I can without getting hit with tax penalties. Any help would be appreciated. George |
| Tags |
| ira, question, withdrawals |
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