Can I withdraw my IRA into a savings account?
I have an IRA, over 59.5 and ready to withdraw, can I have Ameriprise send me the check and I deposit it into my savings account?
Is it safe to recieve this check in the mail, it’s alot of money, and I was hoping they could transfer but it looks like they only mail the check out.
I’m not going to withdraw the whole, amount. I’m most likely going to rollover with another brokerage this is for sure. I just wanted to clarify on the check in the mail being safe. I’m ok with paying taxes on what I have to pull out, gotta cough it up sometime.
Yes you can. A check is fairly safe too. The only problem is that you will have to pay income tax on the entire amount that you withdrawl, unless it is a roth ira.
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