All Forum Posts by: Arthur Flores

I would recommend a fee-only financial planner to help you run a financial and investment plan.  

Yes, you can use part of your Traditional IRA funds for a down payment on a home through the First-Time Homebuyer Exception, which allows you to withdraw up to $10,000 without incurring the 10% early withdrawal penalty. Here are the key points:

- First-time homebuyer: You qualify if you (and your spouse, if applicable) haven’t owned a home in the past two years.

- Lifetime limit: The $10,000 is a lifetime limit, meaning you can only use it once for this purpose.

- Taxes: While the 10% penalty is waived, the withdrawn amount will still be subject to regular income taxes.

This can be a useful way to access funds for a home purchase, but keep in mind the tax implications and the potential impact on your retirement savings.

@Randy Bloch You will want to find a "Fee-only" Financial Advisor.  This is different from a fee-based advisor.  Best places to look are NAPFA and XYPN websites.  These advisors are all Certified Financial Planners, fiduciaries and fee-only.   Most of this advisors can work on an hourly fee.  Always ask for their ADV Brochure.  Let me know if you have any questions.  

I agree with Scott.  You will find fee-only financial planners on XYPN or NAPFA websites.  When speaking to these financial planners as them to send you their ADV Brochure.  This will give you more info about their practice and fees.