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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: Len who wrote (15282)1/16/2000 4:04:00 PM
From: DownSouth  Read Replies (2) of 54805
 
Len, I don't mind sharing.

100% of my capital is in my and my wife's IRA's. I am 51, so I will be using one of the little-known methods of early withdrawal without penalty. To do so, one must withdraw "substantially equal payments" each year for 5 years or until age 59 1/2, which ever comas latest.

The rules for SEPs are foggy but well outlined in a book by Twila Slesnick entitled "IRAs, 401(k)s & Other Retirement Plans--Taking Your Money Out". My new CPA remarked when she saw me carrying the book in her office "Oh, you got a good book there. Are you sure you need me for this?" I considered that an endorsement.:

amazon.com

I am also about to set up a Medical Spending Account and use high-deductible health insurance as a protection against major medical expenses while building up an MSA for pre-tax savings which I can continue to build into my old age for medical purposes now and later. I am very happy about this option for medical coverage. The premiums are less than half of conventional private insurance and the ability to use pre-tax dollars to offset deductibles and to use for all medical purposes is great. The ability to build up the MSA over time is very exciting to me. (I doesn't take much to excite me.)

I will be doing something FranQ told me about to generate my annual cash for SEPs out of my IRA. That is selling stock, purchasing DIM LEAPS to control at least as much stock as I sold, and using the remaining cash as my annual "salary".

Hope this helps. I can't wait to read the other 4 responses you got.
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