On Apr 18, 9:55 am, johntalmadge.wri...@[EMAIL PROTECTED]
wrote:
> My wife and I are looking to buy a house; we are hoping to drawdown on
> my retirement savings, as first-time buyers, for the down payment.
> Here’s the catch: I know we can draw down an IRA penalty-free for a
> home purchase, but my investments are in a 403b. Is it legally
> possible for me to rollover my funds into a Traditional IRA, expressly
> for the purpose of drawing those funds down penalty-free? Also, I
> assume the disbursement is taxed at filing time, not front-loaded
> (netting down the disbursement) and adjusted at tax time. Am I right?
> Finally, how quickly can this process take place?
>
> Thank you all for your responses.
>
Have you considered getting a loan from your 403B?
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