66 y/o M.D. beside 350000 IRA. Which for dwnpay on a home? VA loan or cancel from the IRA?

I am presently working full time earning about 200,000 annually. Limited personal debt but adjectives my equity in a Condo that has be on the market 1 year. Need about 80,000 for down wage on present home financed by a bridge loan. Thanks; Tom and Faye
Answers:
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I disagree. At your age your retirement nest egg should be over 1 million. Also in that is no penalty but the tax on the lump renunciation must be paid and in your rates bracket that is 28% plus.
Talk to your accountant and find the best tax situation for you.
If you are 66 years old then you should not hold a problem withdrawing money from the IRA for the purpose of buying a house as long as this is your main residence...

The penalty for "untimely withdrawal" only applies if you are 59 years or younger.

Take it from the IRA.... who knows how much money you will enjoy left if the market crashes more...

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