non retirement account with Vanguard
I am going through a divorce and have a Vanguard IRA account. I was thinking of taking my RMD and opening a non retirement account with Vanguard as an Index account. It requires $3,000 to open. My question is how long do I need to keep the money in there before I can make a withdrawal if necessary? And is this a smart way to reinvest my RMD? Thank You.
Terry Says
When you have money OUTSIDE a retirement account, there is no minimum time to invest. And if you stay invested for over a year you’ll pay capital gains taxes on gains withdrawn.
But at this juncture of your life, I would recommend a visit with a FEE-ONLY financial planner to determine what risk you can afford to take, and how your future expenses will work out. Since you’re already retired and taking RMDs, you might not want maximum exposure to the stock market at this point. Check in at www.Wealthramp.com to find a FIDUCIARY (puts your interests first), FEE-ONLY financial planner you can trust.
