On Friday, I took out my required minimum distribution from my Stretch IRA account. Charles Schwab has a 24 hour hotline, and they will walk you through any sales or purchases you want to make. The operators are very helpful and knowledgeable. I love not having to pay any fees. They are often hidden when you use a broker.
I contacted the woman who helped me set up my retirement account there. It was very easy. We used an online calculator to give us the numbers. With her guidance, I set up the sale and transfer. It’s important to remember that it takes time for the money to reach your bank or credit union.
I expected the money to arrive in my account on Monday, but it was already sitting in the account by Saturday. I was also able to have the taxes taken out, so I don’t get hit with an unexpected tax bill next year.
It takes discipline and attention to detail to get your taxes paid on time. Having it all written on a calendar or in a datebook is helpful. If your stocks have done well, you may have enough to pay for a nice trip!
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That first photo intrigues me, what building is that on the small island?
ReplyDeleteI'm not sure, Terra. We cruised by it in Alaska. It could be a lighthouse.
DeleteWell done - although it sounds a bit complicated. xx
ReplyDeleteThanks, Joy. It's basically just making transfers. I liked having an adviser walk me through it the first time, though.
DeleteSounds like you did well with your first stock sale! Well done!
ReplyDeleteThank you, Bless. It was exciting to complete.
DeleteHow comforting to have a real live person take you through the process. Moving money is always stressful to me even if I know exactly what I am doing. Where were the beach pictures taken?
ReplyDeleteI agree, Anita. The photos of the beach were taken near Astoria, Oregon. I took a tour there of Seaside and another small town. It was so pretty.
DeleteYou handle you money so brilliantly, Stephenie. I think that keeping on top of this area of life is so important
ReplyDeleteThanks, Ratnamurti. I think so, too. There is so much to learn and understand with money and retirement. I am always reading articles and studying the market. It has opened up a whole new world to me.
ReplyDelete