Richard (Caller)
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I would probably still work part-time to help pay for medical insurance because my employer doesn't offer retiring medical insurance, so I would work part-time to help pay for that.
This year, yeah.
I turned 55 this year.
Okay.
Yes.
Yes, I have a couple of mutual funds.
All total, I have about $1.5 million saved.
Yes.
Part of it is in an inherited IRA that I got from my father when he passed away.
And the other is my own mutual funds I've been putting money into.
Okay.
Yes.
Retire without penalty.
That's my key.
I want any penalty...
And he assured me there is no penalty.
I just want to make sure.
I just pay taxes on what I'm taking out of the mutual fund, or would I pay taxes on the IRA and the mutual fund?
Yes.
That would be a rollover.