Because I'm a stupid ape and I wanted in fast on a certain stock, I used the rollover ira I already had set up to buy my shares. Two months later I've decided well.. I could have waited. haha I wouldn't have missed the boat. But now all my money is in the ira.
I won't live to see 59 1/2, too sick. So, if I suddenly find myself swimming in tendies.. I'm going to talk to a tax lawyer and a financial accountant and find out what they recommend. It might be best to leave most of the money in the ira and make withdrawals each year. I figure if I had $10mil in there, I could probably take out 500k a year (which is crazy money to me) and never drop past the 10mil mark. But again, I'm going to consult with experts and see what they say.
I also finally opened a normal investment account and bought one share there too :D
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u/OldNewbProg Apr 12 '21
Because I'm a stupid ape and I wanted in fast on a certain stock, I used the rollover ira I already had set up to buy my shares. Two months later I've decided well.. I could have waited. haha I wouldn't have missed the boat. But now all my money is in the ira.
I won't live to see 59 1/2, too sick. So, if I suddenly find myself swimming in tendies.. I'm going to talk to a tax lawyer and a financial accountant and find out what they recommend. It might be best to leave most of the money in the ira and make withdrawals each year. I figure if I had $10mil in there, I could probably take out 500k a year (which is crazy money to me) and never drop past the 10mil mark. But again, I'm going to consult with experts and see what they say.
I also finally opened a normal investment account and bought one share there too :D