Today’s topic comes from a question from Janice, who was recently laid off at 53 and is considering a career change into real estate. But to make it work, she may need to tap into her IRA to make ends meet. Could this put her long-term financial security at risk?
Tune in to hear what Frank has to say from a financial advisor’s perspective. We’re breaking down the pros, cons, and alternative ways to fund a midlife career pivot without tapping into your retirement.
Here’s what we discuss in this episode:
0:00 – Intro
1:28 – Initial reactions and risks
4:25 – Alternatives to using retirement savings
5:44 – Exploring other paths
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Licensed Insurance Professional. Respond and learn how financial products, including life insurance and annuities can be used in various planning strategies for retirement. The information contained herein is based on our understanding of current tax law. The tax and legislative information may be subject to change and different interpretations. We recommend that you seek professional tax advice for applicability to your personal situation.
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