Finance or cash?

So my mom passed away in 2006. I obtained the beneficiary IRA then, and have been taking required minimum distributions every year for the last 17 years...how does what you state above apply in this case? She was 78 when she passed. No one has mentioned any changes since inception of the IRA being passed on to me.

 

Only applies to beneficiary IRAs opened after Dec 2019 - no change in rules for already established IRAs so you can just continue taking RMDs until account is empty

 

I think pull the IRA
(Btw I’m 6’3” with only $3k in credit card debt)

 

It's not ideal to touch retirement funds, if you have to withdraw from the IRA within 5 years anyway, it's worth considering. Just keep in mind the potential tax implications and maybe talk to a financial advisor. If you want alternatives, you can explore financing options from other lenders or credit unions. They might have competitive rates that work for you. Some people even manage to make money in online casinos, check out this blackout bingo review, for example.

 

Not financial advice and don’t know the details of your situation but no matter what every internet money shell game guru says, cash and no debt is king.

Personally wouldn’t use retirement funds towards a car, so may make sense to borrow if it comfortably fits within your budget. If you need to borrow, take out as small a loan as possible and pay off as fast as possible = reduced financial stress long term imo.

With good credit, you should be in the 5-6% range for a traditional car loan.

 

Guys, this is an old thread, in theory OP picked up his T4R in July, monetary decisions undisclosed.