IRA Rollover

Archive for August, 2007

Question: What types of investments are considered “rollovers”?

I am age 62 and taking out my 401K. I have the option to rollover a portion and take out a portion as cash.
What types of investments are considered “rollovers”.
Does the investment need to have IRA in the title? like IRA-CD or can it just be a CD or money market bank account?

Answer: Whatever you roll over needs to be in a qualified retirement account–in your case, most likely an IRA. Keep in mind that once you reach 70 1/2 you are required to take distributions from your IRA so don’t put a ton in there if you won’t need it. (which surprisingly is the case with many people-wish I had that problem)

Fixed Index Annuity (FIA) Concept