Have you hit your IRA

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Have you hit your IRA (by Homer [TX]) Nov 24, 2020 8:11 PM

Have you hit your IRA (by Richard [MI]) Nov 24, 2020 9:40 PM

Have you hit your IRA (by MikeA [TX]) Nov 25, 2020 5:35 PM

Have you hit your IRA (by Hoosier [IN]) Nov 25, 2020 11:36 PM

Have you hit your IRA (by Homer [TX]) Posted on: Nov 24, 2020 8:11 PM
Message:

I vaguely remember from the Cares Act. That we could withdraw from our IRAs prior to the end of this year, with no penalty, but we have 3 years to repay. With the recent gains in the market my IRA has doubled since the March Lowes. I am tempted to withdraw and pay off some houses. I would save quite a bit in interest charges. Given the market is over inflated IMO, maybe it’s a good time to get out for a few years. If my regular monthly cash flow continues, I should easily be able to pay it back in 18 months. Have any of y’all thought about doing something like this? --66.169.xxx.xxx

Have you hit your IRA (by Richard [MI]) Posted on: Nov 24, 2020 9:40 PM
Message:

You bet! Monday after Thanksgiving I'm out of it.

I can always pay it back. If the govt changes they might well decide to freeze all retirement accounts and dispurse/give the money to "more deserving" people.

I'll put it to work in "other things" and accumulate it elsewhere. Then, if things are going the way I hope, I can put it all back when I decide.

If not, I think the rules are that you have to declare the amount you took out over the following three years. However, I bet that would change. Taxes are like that. --75.7.xx.xx

Have you hit your IRA (by MikeA [TX]) Posted on: Nov 25, 2020 5:35 PM
Message:

I've never been one to play the market, I always guess wrong. Put it in and keep it there. I remember reading something like if you missed the top 5 days of market up's it cut your return in half over the last 20 years. --64.130.xx.xxx

Have you hit your IRA (by Hoosier [IN]) Posted on: Nov 25, 2020 11:36 PM
Message:

We only buy houses with cash, so no. However, if you're heavily invested in stocks, it might be a good time to trade out a portion to something a bit less "volatile". --99.92.xxx.xxx

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Have you hit your IRA

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