Quote:
Originally Posted by Crowbob
Let’s say painful inflation is here to stay for a few years. If you put in the max every year after the first year you can w/draw $10k with minimal pain every year. If you wait 5 years and begin a scheduled withdrawal there is no hit at all.
The downside is you have to look at this as savings uncoupled to the stock market. It is not an investment but you’ll never loose money.
On January 1 every year, $10k gets dropped in, tax refund is also deposited up to $5k. As such, overpaying income taxes to gain a big refund becomes a winning strategy.
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Thanks for your thoughts. I see things pretty much the same as you. I should be able to go the five years without touching it, but you never know. It just bothers me to leave it sitting at the credit union.