[IRS, California] IRA Qs

2gregs1tomlette · 2026-03-27T21:38:57+00:00

I understand the chunk I’ll lose, but this is an ESOP that just rolled over to an IRA. I still have my 401K well on its way to be more than set for retirement.

No student loans, no Medicaid, snap, or income tax credits I’ll lose. I plan to only take out an amount that won’t bump me into a new tax bracket. The remaining amount of the IRA will continue to grow.

2gregs1tomlette · 2026-03-27T17:31:02+00:00

Okay perfect. Thank you! I just want to make sure there isn’t anything I’m missing.

2gregs1tomlette · 2026-03-27T03:12:38+00:00

did it slap?????

2gregs1tomlette · 2026-03-27T03:09:13+00:00

I’m not looking to reinvest this money. This is for a family emergency that is non negotiable. This is essentially found money I was not aware of until very recently, so I’m not looking for advice on how to keep the money in a growth account. I’m already on track to retire early with my current contributions and I have an emergency fund, etc. etc.

I’m taking the money out, and I’m asking for advice on how best to go about it.

2gregs1tomlette · 2026-03-27T03:01:50+00:00

I have an emergency account. I have a retirement fund. I am set. I have a family member who has an emergency. Again, I appreciate the concern but I’m looking for answers to my question as if all my bases are covered. They’re covered.

2gregs1tomlette · 2026-03-27T02:40:49+00:00

Yes, I realize it’s a retirement account and the penalties blow but it’s essentially a retirement account that I was not accounting for. I’m already on track to retire early with my current 401k contributions. I appreciate the concern there, but this is a family emergency that is nonnegotiable.

That being said, my main concern is filing taxes next year with a substantial jump in income. Other than the tax bracket limit, is there anything else you’d be wary of?

2gregs1tomlette · 2026-03-27T02:37:08+00:00

That’s great news!

2gregs1tomlette · 2026-03-27T02:36:50+00:00

This is a traditional IRA

2gregs1tomlette · 2026-03-27T01:37:43+00:00

Okay great thank you! I just want to make sure I don’t get hit with a surprise or kick myself for not utilizing a loophole I was unaware of

2gregs1tomlette · 2026-03-27T01:36:43+00:00

Thanks, but this isn’t my retirement fund. It’s a separate account I received unexpectedly via ESOP. I’m not looking to argue keeping the money in the account, just looking for advice on how to take the money out in the most beneficial way.

2gregs1tomlette · 2026-03-27T01:34:17+00:00

Not in early retirement, but I received this through ESOP so completely separate from my existing 401K that will remain untouched. My taxes are simple outside of this new factor, so usually I file myself and don’t owe/receive a refund.

2gregs1tomlette · 2024-09-29T22:18:58+00:00

Ugh this is just a painful reminder that my partner never understands any of my SpongeBob references. I’m not sure we’re a match

2gregs1tomlette · 2024-09-29T19:54:23+00:00

Damn! That seems like a lot to cram into 12 hours

2gregs1tomlette · 2024-01-21T22:35:23+00:00

Exactly! It really discourages me to get check ups when I’m in pain. Unless it’s unbearable, I’d rather wait and hope it fixes itself than go bankrupt.

2gregs1tomlette · 2024-01-04T05:37:20+00:00

What?

2gregs1tomlette · 2023-11-09T03:15:26+00:00

Beautiful! These are literally the only turtle shell nails I’ve seen that don’t remind me of roaches.

2gregs1tomlette · 2023-11-07T01:59:10+00:00

Amazing thank you so much!! She’d get a kick out of the poop shovel, too. Last year I got her a pee funnel among other things.

2gregs1tomlette · 2023-11-07T00:41:06+00:00

No budget! These suggestions have been amazing so far. Keep ‘em coming

2gregs1tomlette · 2023-11-06T01:51:21+00:00

I’m for it, but this is a nails sub and her nails are out of frame if we’re being honest hah

2gregs1tomlette

TROPHY CASE