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Strategies & Market Trends : A.I.M Users Group Bulletin Board
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To: LemonHead who wrote (7323)4/23/1999 4:25:00 AM
From: Gary  Read Replies (1) of 18928
 
Keith

The 401K account can be rolled into an IRA. You should try to do a transfer between the 401K custodian and the mutual fund directly to avoid the necessity of withholding taxes. There would be no taxation until monies are withdrawn.

You may want to consider converting some of the monies to a Roth IRA and paying some tax currently as your wife is only 55 years old and if in good health has a thirty year life expectancy. The Roth account withdrawals are not subject to taxation at any time and with a long enough time span will probably result in an overall savings, especially if some of the monies are invested for current income. This is a complicated area and you should consult your tax advisor.

Good luck,

Gary
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