

Ask HN: Best ways to get my money out of IRA? - outofira

I have a good chunk of my money in an IRA account. I would like to get it out so that I can invest in non-dollar based assets.<p>Has anyone got any creative ways to do this?<p>I once read somewhere that if you have a start up, with some clever accounting, you can pull in the money from your IRA into the 401(k) of your start up and then use it for funding your start up. Is this true?<p>Any other hacks greatly appreciated.
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eschutte2
I'm having trouble separating the two questions here: do you want to get away
from the dollar, or do you want ready cash?

If it's the first, why can't you just buy into non-dollar-denominated funds
with your IRA?

If it's the second, and if you're able to roll your IRA into a 401(k), then
depending on the trustee you could loan yourself half of it in cash.

Alternatively you could probably create an ESOP for your company and (again,
trustee permitting) invest your IRA or 401(k) into that.

Disclaimer: I don't know anything about accounting.

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hariis
Well, I want to invest that money in either gold bullions or in myself.

When you say, "if you're able to roll your IRA into a 401(k), depending on the
trustee you could loan yourself half of it in cash",

do you mean, I could loan myself half of it without penalties. How does this
work?

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eschutte2
Some, but not all, 401(k) plans allow you to borrow up to 50% of the balance,
at some defined interest rate. You make the payments, principal and interest,
back into the 401(k).

