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Retire at 50 - How to pay for 50 - 59 1/2?
Old 11-11-2010, 09:01 AM   #1
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Retire at 50 - How to pay for 50 - 59 1/2?

So..I have a 401k and a RothIRA, neither of which I will be able to access in 20 years when I hopefully retire at 50. What are the best ways to pay for those 10 years? A savings account? A TD Ameritrade account?

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Old 11-11-2010, 09:14 AM   #2
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Your choices are 72T (Setting up IRA 72(t) distribution - no 10% penality) and/or savings/investments. TD Ameritrade is probably the last place I would ever invest any money.


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Old 11-11-2010, 09:35 AM   #3
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If you have more cash after funding your IRA and 401k you can shelter up to $10k / year by buying I-Bonds - interest is tax deferred.
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Old 11-11-2010, 10:44 AM   #4
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I believe if you've been making contributions to a ROTH for at least 5 years you can withdraw contributions (not earnings) without penalty.
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Old 11-11-2010, 01:15 PM   #5
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Save in a taxable account. Nothing wrong with that if you've already maxed your tax-deferred contributions. Read up on asset location - what asset classes to keep in taxable accounts and what to keep in tax-deferred / tax-free accounts.
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Old 11-11-2010, 02:40 PM   #6
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You could possibly get one of those cushy government jobs I keep hearing about, specifically a federal LEO (Law Enforcement Officer) so you could retire at 50 & start drawing a pension.

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