Thursday, November 12, 2009

Betting I'll live past 45...

My IRA is about to become MY RA. Now.

Now for those of you who think I'm crazy to flush my retirement, I plan to use it for something better than that (flushing that is). The World Series of Poker beckons. Well, maybe not yet. Maybe someday.

The laws says I can have this money (without penalty) when I’m 59.5 years of age….but I bought life insurance that runs out when I’m 62. So I’m betting (with my money) that I’m going to die before 2029, but I’m planning to leave other money in the IRA until 2027? And for the wad of cash I’ll supposedly have (if I leave it in there they tell me), I won’t be able to spend it all in two and a half years.

So hand it over.