I am 52 have 1 IRA with a financial planner and 2 other IRA's (non-deductable) different institution.how do I figure the payment I can take out monthly?
2006-08-28 08:34:12 · 3 answers · asked by tonyacar@pacbell.net 1 in Business & Finance ➔ Taxes ➔ United States
I believe that if you ask the financial institution(s) where your money is located, they will figure out what that amount is for you.
2006-08-28 08:40:48 · answer #1 · answered by Slider728 6 · 0⤊ 0⤋
You're under 59 1/2. If you take any money out from your SEP or IRA you're going to get whacked with a 10% penalty, along with the income tax. If you don't meet any of the penalty exclusions, taking money from your IRA or SEP at this point is probably not a good idea.
2006-08-28 17:09:30 · answer #2 · answered by SuzeY 5 · 0⤊ 0⤋
You don't have to figure it out.
2006-08-28 15:40:51 · answer #3 · answered by Anonymous · 0⤊ 1⤋