Stock market decision
I have two Fidelity accounts that I started with Mad Money in 2022. One is in a managed account from a rollover that has gone from 50K to 81 k. The other is a Roth that I manage barely that started at 30k and is now 67k. I may be in need of the funds and I am also worried about the market. I plan to liquidate one account. Any suggestions? Thank you PS I have no debt and I’m retired comfortably with a pension.
Terry Says
That depends on your own tax situation. Withdrawing from the traditional IRA will incur ordinary income taxes. Make sure they withhold about 20% of the distribution for taxes. And remember that the additional income could impact your Medicare part B premiums. So check that you don’t go over the IRMAA limits. REad this: https://irmaa.com/2026-IRMAA-brackets/
And no matter which account you withdraw from, this is a good time to adjust your stock market risk exposure.
