Hi everyone - first time caller, long time listener......I'm wondering if anyone has any thoughts/experiences with purchasing a second home using IRA funds (post-retirement of course!). At retirement I would have funds available to purchase a home for cash, but the tax hit would be substantial if taken out at once. For example purposes, let's say the home in question would be $250k.
Short of phasing out the withdrawls over a period of time (say 5 years), what other strategies would work to limit the tax impact of this type of transaction?
TIA
Short of phasing out the withdrawls over a period of time (say 5 years), what other strategies would work to limit the tax impact of this type of transaction?
TIA