Matthew J. Ure

RMA
Personal Finance, Retirement, Investing
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74
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“The whole is greater than the sum of the parts- when all parts of a financial life are put together properly, incredible value is captured! ”
Firm:

Anthony Capital, LLC

Job Title:

Vice President

Biography:

Whether your question is about social security draw age, balancing risk and return in an investment, tax planning, or which strategy you should use to cover long term care needs, your chance for success improves dramatically with accurate information. Matthew believes his role is to guide clients through these trade offs using various tools, experience, and his training as a certified Retirement Management Analyst which centers every decision on improving retirement outcomes using math and science. 

Matthew has become an expert in optimizing the financial lives of public and private sector employees.   Several years ago, recognizing a huge need for benefits education and basic financial planning, he teamed up with The Society for Financial Awareness to offer workshops, seminars, and private consultations with a goal toward education. This collaboration has given thousands of public and private sector employees access to fiduciary advice while requiring no minimum investment amount. This educational approach that focuses on the best interest of the person has created millions in dollars of value for the attendees and their families.  

 He is a well know presenter in San Antonio and surrounding areas having taught hundreds of seminars touching on subjects ranging from debt solutions, investing, Social Security, pensions, insurance, and other financial topics. 

Being the 8th of 11 children- Matthew has real life experience in financial planning as he put himself through college, graduating from Brigham Young University with no debt and money in the bank.  He speaks fluent Thai and enjoys traveling whenever occasion permits. His personal life centers around being a father to 3 boys and husband to a beautiful and creative wife.

Education:

Brigham Young University

Assets Under Management:

$14 million

Fee Structure:

Fee Only

CRD Number:

6444268

Insurance License:

#1974612 TX

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    401(k), IRAs
Can I withdraw from my IRA without a penalty?
100% of people found this answer helpful

I'm sorry you're in such a tight spot.

You have two options for a penalty free withdrawal from your IRA:

1- take equal payments for the next 5 years in an amount approved by the IRS. You can use a 72t calculator for this.

2- If you are disabled, then you can take money without a penalty you just need to prove at the end of the year on taxes that you are disabled.

 

On the 401(k), the same exemptions also apply but with two more exceptions:

3: if you have a QDRO assigning you money

4: if you separated from the employer at or after age 55 (50 for law enforcement). 

 

So it looks like using the QDRO to get money from the 401(k) is your best and fastest option at this point for a penalty free withdrawal. However, given the low income- there would be virtually no taxes on a modest amount from the IRA. So if necessary, pay the 10% penalty and take money from there too. 

It's not easy reading but here is the official IRS worksheet on it- https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distributions

 

I hope that helps you. God bless you in your difficulty.

4 weeks ago
    Retirement, Annuities, IRAs, Taxes, End of Life
I received money from my sister's annuity after she passed and it went into an IRA of mine; how do I transfer half of this amount to a sibling?
September 2018
    Military / Veterans, Investing, Starting Out
What are the best investment vehicles for a young, new investor looking for simple, long-term investments?
100% of people found this answer helpful
September 2018
    Banking, Investing, Stocks, Insurance, Starting Out
At 21 years old, would it be wise to invest in CDs or go straight to financial market investments?
100% of people found this answer helpful
September 2018
    401(k)
Is it possible to combine four 401(k) plans into one?
100% of people found this answer helpful
September 2018