[kylsq0Ln]

Buy a mail-order bride from Croatia.

[margoaroyo]

Buy a mail-order bride from Croatia.

That's a winner.

[Fellionas]

The 20% is withholding. If you take the early distribution (e.g. don't roll it over to an IRA), you will be taxed early distribution with no exception. That's 10% penalty, plus whatever your marginal tax rate is. So figure your overall nut will be 35-38%. Taxes have nowhere to go but up, so unless you plan on being unemployed next year, now is the time to pay the man and get your cash out of the system. After the 20% you better set asid the other 15-18% plus your state (oop 9%?). damn.

Sorry.

[eFDMBwKH]

Thanks for the relevant response Mouse.

[Michael-jeckson2]

General, I wouldn't rush to make a decision. It couldn't hurt to roll it into an IRA for the time being, and think on it. With the IRA, you have more control than you do over a pension. It's easy to withdraw from an IRA if you need to, and take the tax and penalty hit. Mouse is right, you get hit with a 10% penalty, and also the taxes.

My advise is to roll it into the IRA for now. Being diversified is good, we don't know the immediate future.

[Fellionas]

General, I wouldn't rush to make a decision. It couldn't hurt to roll it into an IRA for the time being, and think on it. With the IRA, you have more control than you do over a pension. It's easy to withdraw from an IRA if you need to, and take the tax and penalty hit. Mouse is right, you get hit with a 10% penalty, and also the taxes.

My advise is to roll it into the IRA for now. Being diversified is good, we don't know the immediate future.

I am not suggesting anything here, but we know that we are losing money every day in the market, or out of it. The taxes are going to get higher, and they WILL come for your IRA/401k. I pulled mine last year and paid the pain. Unless he thinks he is gonna be in no income land next year....pull it.

Not an investment recommendation, every advisor and CPA will advise you against this don't do it....but

do it

[PNCarl]

Roll into IRA, then look at the various ways you can get the money without paying taxes. For instance, do you have a lot of medical bills? You can fill out a form that it is "medical necessity" and thus the early withdrawal penalty does not apply. There is some form of IRA that allows you to borrow the money from yourself also.

[Lictimind]

This is from a large company I work for over 15 years ago, but apparently at the time they had a pension program and they have to cash me out.

Here our my options, take the cash minus 20% tax or roll it over into an IRA which I don't have.

For the sake of argument let's make the amount $10,000.

What would you do?

Is it "let's make the amount", or is it in that same range?

Technically, you can roll it into an IRA and:
1) withdraw $10K without penalty to buy first house
2) withdraw without penalty for other stuff, such as education
3) you can buy a foreign real estate.
4) you can own gold into an IRA account, I'm sure other people have tried it.

If none of the above is possible, then cash in hand... ugh, also depends on your tax. If your tax bracket is low, take cash. If you think you MAY have a low or now income in the next few years, roll it into IRA and withdraw then.

[antiggill]

I am not suggesting anything here, but we know that we are losing money every day in the market, or out of it. The taxes are going to get higher, and they WILL come for your IRA/401k. I pulled mine last year and paid the pain. Unless he thinks he is gonna be in no income land next year....pull it.

Not an investment recommendation, every advisor and CPA will advise you against this don't do it....but

do it

One of the first things that barry does upon re-selection is confiscate pension plans and 401s etc..

He'll probably go for the guns first then the money..

[grofvuri]

I am not suggesting anything here, but we know that we are losing money every day in the market, or out of it. The taxes are going to get higher, and they WILL come for your IRA/401k. I pulled mine last year and paid the pain. Unless he thinks he is gonna be in no income land next year....pull it.

Not an investment recommendation, every advisor and CPA will advise you against this don't do it....but

do it

A doomer that I recently met in real life (if you can imagine the luck!) said that he has a self-directed IRA that he is planning to purchase his BOL land with. Is that possible? If so, might that be an option for the General?

[Fellionas]

A doomer that I recently met in real life (if you can imagine the luck!) said that he has a self-directed IRA that he is planning to purchase his BOL land with. Is that possible? If so, might that be an option for the General?

If it is his first real estate purchase and a residence, perhaps. GoD does not fit that profile. He does not have a first home purchase, does not have an unemployed medical insurance need, does not have a significant health event, etc. GoD, like the rest of us, is fucked one way or the other. So, if you think the tax rate will come down, or you think you will have lower taxes in the future, and don't mind a little uncomfortable "not holding it and not owning it", by all means invest it in the ponzi.

If you expect to be making money and kicking ass as usual next year, then this is the time to do it, and consider your 10k to be 6k. Then invest it in what you want to invest it in.

[XYTommy]

Take everything and flee the country.

[hHwJ229h]

Invest it in silver, once it hits $50, You'll be at least at $10.000 value, perhaps before the federal tax is due. Once the juggernaut derivative bomb of financial mass destruction is upon us, anything you don't physically hold in your hand is probably lost forever, and that includes all pension funds, maybe not the lawn mower your neighbor borrowed, which he will return because there is no gas in the tank...

[dmoiknlasd]

Learn to accept that nothing is owned in a communist country. If you happen to find yourself in one then try to figure out how you got there and the best way to extract yourself. You will not extract yourself by perpetuating illusions.

The cost might take the entire $10,000 to educate yourself that there never was $10,000. You will be left with the education and will be richer for it.

Just an opinion but the best way to rid yourself of that much imaginary money is Vegas. Enjoy!!!

[xochgtlm]

I swear I can't even believe you'd ask that question, to yourself or especially here! Did you start tokin'?? Of course you take the fucking cash! NO matter what, period! Is this a trick thread?

If you read my original post you'll notice that I said I would take the fiat money and they asked What would YOU do? I think there's some decent reasons for and against.