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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: LTBH who wrote (6506)	11/17/2010 8:41:21 PM
From: JimisJim	Read Replies (1) \| Respond to of 34328

Did some digging on IRS and other tax sites... seems that I have many more options than I thought. As I left my "regular" job after reaching 55, I can withdraw money from the 401k from that employer penalty free (still owe income taxes), once or many times and/or rollover the rest into an IRA... Now, I'm thinking that if I withdraw some, pay the tax and keep the rest of the cash, I can then use that cash to pay for converting the remainder of the 401k to a ROTH. And there are many other options for those of us who were "separated" from our employers for any reason during or after the year one turns 55. These options are ONLY available wrt 401K plans, so I'll have to noodle around on this awhile before simply rolling it all over into a regular IRA. Thanks for everyone's input. Jim