Hello, Bogleheads.
Progress is being made when it comes to transferring the aforementioned inherited IRA from Wells Fargo to Vanguard.
As I mentioned previously, my plan is to withdraw $16k a year from the inherited IRA and use it to fund my wife’s and my IRA contributions. If I can get 12% return on the inherited IRA, (I plan to put most of it in VTI) it should last for about 9 years of IRA contributions for my wife and I, which puts us right around age 59 1/2…
My question is this… when I take the 16k out of the inherited IRA and move it to our own IRAs, do I invest all $8k immediately, or should I put the $8k in a money market fund, and then invest it monthly? I’m thinking I might be able to do my investing on days when the market does poorly… trying to deliberately buy the dips.
But we’re not supposed to try to time the market, so I’m wondering if long term, it might be better to just put it in VTI or VOO immediately and try to pay as little attention to it as possible.
What say ye??
Progress is being made when it comes to transferring the aforementioned inherited IRA from Wells Fargo to Vanguard.
As I mentioned previously, my plan is to withdraw $16k a year from the inherited IRA and use it to fund my wife’s and my IRA contributions. If I can get 12% return on the inherited IRA, (I plan to put most of it in VTI) it should last for about 9 years of IRA contributions for my wife and I, which puts us right around age 59 1/2…
My question is this… when I take the 16k out of the inherited IRA and move it to our own IRAs, do I invest all $8k immediately, or should I put the $8k in a money market fund, and then invest it monthly? I’m thinking I might be able to do my investing on days when the market does poorly… trying to deliberately buy the dips.
But we’re not supposed to try to time the market, so I’m wondering if long term, it might be better to just put it in VTI or VOO immediately and try to pay as little attention to it as possible.
What say ye??
Statistics: Posted by LitProf2020 — Fri Sep 13, 2024 4:07 pm — Replies 5 — Views 102