Date: Tue, 6 Dec 2005 16:23:07 -0600
From: Rich Carreiro 
Newsgroups: misc.invest.financial-plan
Subject: Re: Frugal health risk management/insurance?
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me@privacy.net writes:

> >I remember seeing this statement a few days ago and got an email from
> >a friend today that contradicted this.  Only 401(k)s are protected from
> >bankrupty.  IRAs may be protected by a state law based on residency.
> 
> what if I cash them both in and convert them to cash or
> gold and store in a safe deposit box?

Then they aren't protected from bankruptcy (aside from the
amount of overall assets your state lets you keep in bankruptcy).

And of course, if you cash them in you'll pay income tax (and
penalty tax, if under age 59.5).

-- 
Rich Carreiro                            rlcarr@animato.arlington.ma.us