Situation:
Single, female, 44, currently UNemployed by choice. 300K in 401(k).
Plan:
1) Roll 401(k) into Vanguard or Fidelity IRA. Start 72(t) withdrawal, single life, fixed amortization, ~18K/year at today's rate. Continue withdrawal until 59.5.
2) Go back to work a year or two from now. Participate in employer's 401(k) program.
Question:
Can it be done? Is it legal?
Thanks
Single, female, 44, currently UNemployed by choice. 300K in 401(k).
Plan:
1) Roll 401(k) into Vanguard or Fidelity IRA. Start 72(t) withdrawal, single life, fixed amortization, ~18K/year at today's rate. Continue withdrawal until 59.5.
2) Go back to work a year or two from now. Participate in employer's 401(k) program.
Question:
Can it be done? Is it legal?
Thanks