IRA early withdraw

[Iron_Buck]

Thanks for all the info guys. What my plan was is to withdraw the money and use if for a down payment on a rental property to create some cash flow.

[DaveC]

I remember those days. Warren Gas-Dynegy-Targa. Don't miss them.
It got worse each time. I was happy to get away from that place.

Haha, Dynegy was one of them.

The benefits do float, usually gain and lose with each move.

I've been here since 1998.
I think I'll go work at Bucees if this gig ever plays out.
I here they have decent paid entertainment if you land a job within sight of the covered parking area.

[Throwin Darts]

Man the other investment has got to be really really dang attractive to justify being taxed at ordinary income + a penalty.

[HOOKNBULLET2]

Why not just borrow against it instead of cashing out and paying penalties?

Borrowed money is not taxable.

[glen]

I’m interested in this other investment as well. I can’t imagine one good enough to forfeit 35% plus of my investment to go into another one. Seems too good to me. Only exception would be a brother-in-law type investment where you buy land or company worth $500k for $200k and have a lot of positive equity day 1.