Cashing Out Inhherited Mutual Fund

[AMYMARIE71]

Well, yes the more you invest over time the better. This holds true of any investment. You can own a CD and title it as an IRA and can get this at your credit union.

The real question is do you want to save this money for retirement and if not what is the goal for the money. Once you know what your goals are, then you should be able to choose an appropriate investment vehicle.

I think you need to provide more specifics to your financial situation for us to provide the best advice.

I am sorry but I do not know what else to tell you..I also mentioned in a previous post about a 401k I am keeping put until I know what is going on with my current employer with the possibility of a future roll-over. Knowing now that I MUST withdraw and take the lump-sum from my inherited IRA, my main focus is to make money with that money until it is needed. Possibly a CD so where that money in the future could possibly be used as a contribution to my 401k once and IF it is rolled-over.

[creditcardfree]

I am sorry but I do not know what else to tell you..I also mentioned in a previous post about a 401k I am keeping put until I know what is going on with my current employer with the possibility of a future roll-over. Knowing now that I MUST withdraw and take the lump-sum from my inherited IRA, my main focus is to make money with that money until it is needed. Possibly a CD so where that money in the future could possibly be used as a contribution to my 401k once and IF it is rolled-over.

Technically, the money you are referring to from the inherited IRA cannot be combined with 401K money through a rollover, because it is not your own earned income.

It is okay to have retirement money invested outside of a 401K, in a Roth IRA or a traditional IRA. Either a CD or a mutual fund will over time make money.

In my opinion, if your saving for retirement: put the money in a Roth IRA
If you are saving for a near term goal: less than 5 years, put the money in a CD.