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I have a special case IRA I can liquidate with no tax implications(over 250,000 invested), right now my options are

  • Dump the entire thing and cash out the money that's left. The thing has been hemorhaging money, and at least for now Biden has not made new rules to screw me over. This would allw me flexibility for now to buy choice items I need for later, even if i have no retirement savings

  • Keep it in the account and traded, risk losing a lot of money, BUT it could always go up later. Based off the massive implosion of the economy i find this one very hard to believe.

  • Divert the funds to something else like an MMA or cash account, lose the potential gains later, and ride out the market. Re invest later on and see what happens. This is really just option 2 with different instruments used

I have a special case IRA I can liquidate with no tax implications(over 250,000 invested), right now my options are * Dump the entire thing and cash out the money that's left. The thing has been hemorhaging money, and at least for now Biden has not made new rules to screw me over. This would allw me flexibility for now to buy choice items I need for later, even if i have no retirement savings * Keep it in the account and traded, risk losing a lot of money, BUT it could always go up later. Based off the massive implosion of the economy i find this one very hard to believe. * Divert the funds to something else like an MMA or cash account, lose the potential gains later, and ride out the market. Re invest later on and see what happens. This is really just option 2 with different instruments used

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[–] • 0 pt

You have to look at your whole financial situation. If you can use that money to invest in yourself and be more financially stable in the long run, it might be worth it.

Do you have a good mix of other investments, or is this it? If everything is in stocks, you should probably diversify.

What are your short, medium, and long term financial goals? When do you think you'll need that money? How much risk are you willing to take, etc?