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Retirement Planning/401K
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Question
I am 75 1/2 and will retire October 30, 2009. I intend to set up quarterly disbursements from my 401K for a period of 10 years. After a few years if I need long term care can I rollover the balance of my 401K to a qualified IRA or take the balance in cash.
If by "qualified IRA" you mean one that can make a charitable non-taxed contribution, yes.
But. . . (and there always is a but).
If you don't have the where with all to support yourself in the institution of your choice for at least 2.5 years, the State can choose to move you to more economic facilities.
Richard Fritzler
www.NevadaCorporateServices.com
www.OweLessTax.com
phone 800 590-6612
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Answers by Expert:
Richard Fritzler
Expertise
We do not sell insurance, we are not money managers. Our programs allow you to make any investment and pay a far lower tax. Whatever your plan, you will be more successful, by drastically lowering the taxes that are owed. Your retirement will grow faster.
Experience
I have been in the business of assisting business owners in reducing their taxes and liability for over 17 years. Providing retirement option that are not just tax defered, and not limited to a "token" tax free contribution. Retirement plans that allow for total and complete access before you are 59.5 with no penalties.
Organizations
National Small Business Owners Association.
Nevada Association of Listed Resident Agents.
Citizens Legal Association
Small Business Administration (SBA) Mentor
Publications
Contributing author to "The Corporate Standard Newsletter".
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