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What you're asking about seems like a VERY bad idea to me, but one "can" receive 72(t) distributions from 401k/IRA accounts "over time" and avoid tax penalties. I'm considering doing this for one of mine for a similar investment purchase (gradually moving from equities to "hard assets" over time). From you questions already asked...I don't think you want to go there however. This "option" is under the radar for most, and requires due diligence...good luck!
ps: Why isn't your wife's 401k "performing" MUCH better than the meager interest you would be "paying yourself"? "Borrowing" against one is almost always a bad idea (for numerous reason) imo...I wouldn go there.
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