How to convert a million dollar taxable IRA to ten million dollars of tax-free cash without risk.: An article from: The National Public Accountant
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This digital document is an article from The National Public Accountant, published by National Society of Public Accountants on August 1, 2003. The length of the article is 2817 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: How to convert a million dollar taxable IRA to ten million dollars of tax-free cash without risk.(individual retirement accounts)
Author: Rolf Auster
Publication: The National Public Accountant (Magazine/Journal)
Date: August 1, 2003
Publisher: National Society of Public Accountants
Page: 30(3)
Distributed by Thomson Gale
What do you think about moving out “cash balance” money from company Pension account to an IRA rollover?
I’m 51 years old, recently retired and has $159K in cash balance account that our pension plan credits with 5% interest credit/year.
I’m assuming on an average year, the stock/mutual funds/ETFs will probably generate between 5% and 10%/year. This $159K present value will give me about $2,358/month for life at age 65.
Will it better to do an IRA rollover for a much higher earnings than the 5% from the pension plan or will it be better to receive $2,358/month for life starting 14 years from now? Any comment
will be appreciated.
Should the government eliminate cash distributions from 401k’s until the age of 55.?
The 401k as a savings vehicle is being sold to the general public as being preferable over a pension because it’s portable. However, many people simply cash out of their accounts when they leave their jobs thus eliminating any benefit from the plan whatsoever. Should the government eliminate that as an option and require a rollover distribution under those circumstances? I’m not saying eliminate hardship withdrawals but regular cash-out distributions.
I’m not talking about eliminating distributions after age 55…just the early distribution option.