Ep 27: Mailbag – RMDs, Trading Options, and More

We are opening up the mailbag today to answer some listener questions. Should you take money from your IRA if you want to start a business? Well, this will depend on your age. If you are under 59 ½ there could be some hefty penalties. Should you put your future savings in a Roth or 401(k) if your employer offers both? Most people believe taxes are going to go up in the future. But you'll need to sit down and find the correct balance for your situation. On today's show, we'll be discussing IRAs, trading options, RMDs, Roth IRAs, and more.   What we discuss:  1:56 – "I want to start a business, should I take the money from my IRA?" 7:06 – "Can I meet my retirement income needs through trading options?" 11:48 – "I'll be turning 70 this year, is there a way to get out of an RMD?" 15:05 – "I'm not a savvy investor, have I damaged my future?" 19:14 – "Should I put my future savings in a Roth or 401(k)?"   Contact: If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/