taking out money from retirement savings account

[backtoschool]

If I rolled my retirement savings account to a liquid IRA would that be considered exempt?

yes, but it has to be a direct rollover.

[jribe]

as long as it stays in a retirement account (IRA, 401k, 403B etc) you'll be fine. DO NOT take a check. You don't want any mishaps with someone thinking you took the money out. Once you do that- it's fair game for the trustee to go after.

[ando]

well, I am about to take an early out from job, and I have some money in my retirement account that I am planning to tap into to supplement my income. Since I will not be working anymore and I am not 62 yet. Therefore I will be taking monthly payments from account,is that doable without raising eyebrows?

[jribe]

well, I am about to take an early out from job, and I have some money in my retirement account that I am planning to tap into to supplement my income. Since I will not be working anymore and I am not 62 yet. Therefore I will be taking monthly payments from account,is that doable without raising eyebrows?

since you said you're doing a ch 13- the monthly amount will be included in your income. So don't take out more than you need. It won't raise eyebrows- but you'll have to include it.