I hope this doesn't come across as unAmerican, but as the bonds mature in my Traditional IRA, I am withdrawing the funds to deposit in my brokerage cash account. Why, you may ask? It all has to do with taxes. My home state, Illinois, is talking about raising the state income tax from 3 to 4.5%. Also, I believe in the not too distant future, Federal income taxes will be higher--not just for the rich, but for the little guy--me. I think I can do better tax wise with the (current at least) advantages of long-term capital gains, which, I hope, to achieve in the cash account. I will settle the tax consequences each year instead of later. My income in the future will not be substantially lower than now, which offsets the usual banter that you can withdraw from the Traditional IRA later when you make less and are in a lower tax bracket.
I am NOT recommending this action to anyone else. I do think it is something that should be considered with Traditional IRAs IF one thinks taxes will be higher in future years, and if other aspects of one's income and tax structure are favorable to it.
My Traditional IRA with an online account also had some limitations as to what I could purchase in the account. I am getting out from under those limitations with this course of action as well.
This will be a gradual process that will take a few years, but I am moving my cash balance now, and as bonds mature, I will withdraw balances until the account is closed.
I welcome your observations on this action that I think/hope is right for me.