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      06-13-2011, 11:49 PM   #1
pc4400
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Retirement CD tax questions

Hi everyone,

I moved a 401k account to a "retirement CD" a while back. I was forced to become a consultant so the 401k account wasn't doing anything.

When my retirement CD matures what can I do with it that does not involve paying tax? I'm assuming if I touch it I'll have to pay tax on it. So my question is;

Any advise is greatly appreciated
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      06-14-2011, 09:00 AM   #2
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Just renew the CD. Simple.
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      06-14-2011, 09:31 AM   #3
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Not sure why you did not roll it over in to a IRA, and find better investments vs a CD. as it was pointed out you can convert to another CD or you could possibly roll in into an IRA which will give you more investment options than a plain old CD.

Honestly, you put the money into a CD once you are retired to preserve the capital.
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      06-14-2011, 11:06 AM   #4
pc4400
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Thanks!

I've actually been looking at IRAs and have been thinking about moving to a traditional IRA. But I had to ask here, since most of you guys know this stuff so well.

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      06-15-2011, 01:41 AM   #5
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either renew the CD for what ever rate at the moment or move the money over to a IRA savings account for liquidity but at the same time you get shit rates. depending on your age i would recommend speaking to an investment adviser and actually finding a way to make that money work for you.
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