I have a self directed IRA which has a lot of cash siting in a FDIC insured account earning .35% interest. I'm old enough to withdraw from the IRA without penalty and am considering taking cash out of the IRA and depositing it into an online savings account which is currently paying 3.6% apr. To avoid including this money as income at the end of the year I'm thinking that I could use it as a year end contribution back into the same IRA or even open a new IRA for myself and one for my spouse.
My goal is to safely put that cash to work. Thoughts?
