Can money in retirement accounts be used to purchase property?
466629
It's still your money even if it's in a retirement account, and you can pull it out as a loan (but you need to replace it or be penalized) or as a distribution, so yes you can use it for your downpayment.  It's an eligile source of liquid assets, from a lending perspective.\n\nYour retirement accounts are basically savings or investment accounts that give you a (very) slight reduction on your taxable income.  If you're buying a house, it's much more important than knocking a few thousand dollars off of your taxable income, so I wouldn't put it there, I'd just put in in a regular investment account.  Minimizing your tax liability is wise, but it's not necessarily the highest priority all of the time.\n\nYou can also change your IRA contributions amount anytime you want, or make a lump sum contribution prior to the deadline from your other investment or savings accounts in the total amount it would have been if you had contributed it paycheck by paycheck.  So you can have it, if you need it, and still have the option of taking advantage of the tax benefits.
216142
Get your brokerage to INITIATE a transfer.  If you don't have a brokerage open an account,  you can walk into just about any bank and tell them you want to set up a retirement self directed fund and they will do the paperwork for you.\n\nOnce official paperwork is initiated, the holder of your funds will have to legally transfer them.
779084
There is a pension, 401k and an IRA.
66302
Yes, you can invest in an ira no matter what but if it's a roth you have to take an annual distribution if your over 59 1/2 and if it's traditional then you have to take the annual distribution if your over 70 1/2
356049
Of course you can, as long as you aren't into illegal activity, like laundering. Banks prefer you deposit the cash, they make money on it, you make money on it everybody is happy!
821884
This may help.\n\nhttp://www.hdb.gov.sg/fi10/fi10201p.nsf/WPDis/Buying%20A%20Resale%20FlatHousing%20Loan%20from%20Bank%20-%20Introduction?OpenDocument&ExpandSection=6%2C5
789072
Yes, as long as you have enough money in your account to cover the purchase.
61950
Yes, of course.  Just ask your administrater for a witdrawal.  You can also take a loan against your 401k.
1109453
GOD YES!!!! NOW IS A GREAT TIME!!!\n\nI work as a financial advisor and I wish I could get as many people in their 20's to buy a Roth IRA.  \n\nRemember, a Roth IRA means that you do not pay taxes on the growth or interest, and their is no taxes when you take the money out after age 59 1/2 years old.\n\nAlso, if you work and you company offers a 401k, try that as they might match you on what you put in.  Remember, that money is not taxed when it goes in, but is taxed when you take it out after age 59 and 1/2.  \n\nIf you are so inclined, you can do both.\n\nTry Scottrade.com, or etrade.com if you want no limits on what you can invest in.\n\nStart with a mutual Fund that is called "balanced" or Asset Allocation.
1184595
That's the way SSI is. They count your assets. If you go over the limit, they force you off the program.. It does count against the $2000. asset limit. If your parents or other trustworthy relative are still alive have them buy it for you so that it counts as their property instead of yours with the understanding that they will let you use it when you need it.
1084530
Look into DRIP accounts.  Direct ReInvestment Program.  There are many companies that will allow this.
654383
Sir Section 54 of the Income Tax Act 1961 gives the details of saving tax it goes that you have either to purchase bonds as you mentioned but it wont help as those bond would have to be reinvested in same Capital asset rather you can go for another same type of asset of same value you have 3 years from the date of sale or get your money invested in bond and keep renewing each tenure and the last option will be pay a tax and the correctly specifed rate
1136364
Consult with your lawyer or accountant. It depends on your personal situation and how much investment property you own or plan to purchase. There are tax consequences (your accountant can delineate the advantages and disadvantages of putting your investment property into an IRA or a trust or an LLC or keeping it owned by you individually). There are also consequences for your heirs (your lawyer can advise you on this). Laws vary from state to state on this.
200676
Most companies will not sell it to anyone under age 50.  I advise my clients to purchase it with a 10 year payment option over their last 10 years before retirement.  Have it paid up before retirement while you're still working and income is higher.  It also protects you against future rate increases.  Talk to a number of professionals as there are many plans out there with numerous options.
1032070
Depends, if you use your profits to buy another house within, I believe, 2 years, no.  Check the IRS website for time limit.\n\nIf you don't purchase another house, then yes.
743638
Only if you are a first time home buyer, then you can use IRA funds without penalty (see http://www.irs.gov/taxtopics/tc558.html ).  \n\nBest wishes.
692766
Odd-Lot stores, Job-Lot stores, 99cent stores, Salvation army stores, Thrift shop, Loot magazine, Craig's list, garage sales, fleet markets...neighbors moving out sales...\n\nand $500 Certficates of deposit bought at the bank every month...one year duration...and renewed at the end of the year. When the year end rolls around and the first comes due...add it to the $500 you use to purchase your CD's and make it $1000 and purchase a new $1000 CD. At the end of five years you will be so used to putting money away it would have become as natural to you as breathing...and it won't even dawn on you that $2500 is available to you at the end of each month. That is called paying yourself. And is independent of your Keogh, Roth IRA's, 401k's and social security money or anything resembling an annuity. It is all these things rolled into one and the emotional satisfaction of the discipline and the fact that you control exactly the money you put away...cannot be beat by anything a broker could swindle you...er...convince you into investing.\nNow that's frugality in my book.\n\nOh, yes...I have no credit cards either. Debit cards take their place. Can only spend what I have. Erma Bombeck is to others what Suzie Ormon is to the frugal.