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Pull money from traditional retirement account to reinvest elsewhere?!?
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Topic: Pull money from traditional retirement account to reinvest elsewhere?!? (Read 562 times)
eagetal96
5 O'Clock Shadow
Posts: 1
Pull money from traditional retirement account to reinvest elsewhere?!?
«
on:
August 17, 2020, 10:41:31 AM »
Due to Covid I have the opportunity to withdrawal up to 100k from my traditional retirement account penalty free. This is enticing as it would allow me to invest in single stocks occasionally, and grow my VTSAX. Pros- Invest where I want with a potentially higher return. Cons- Pay taxes on the withdrawal over the next 3 years and lose my
@SS
in the market. As for my retirement account, I have stayed high risk for the past decade and averaged 12% growth by not changing a thing. WWYD?
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MDM
Senior Mustachian
Posts: 11488
Re: Pull money from traditional retirement account to reinvest elsewhere?!?
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Reply #1 on:
August 17, 2020, 02:24:15 PM »
If your 401k (or 403b, etc.) fees are too high, you could take $100K out and the put the $100K into a traditional IRA. No tax cost.
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Pull money from traditional retirement account to reinvest elsewhere?!?