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    Real Property and Retirement

    I am trying to understand two issues related to New Mexico exemptions but can't make heads or tails of it.

    (1) New Mexico exempts "Proceeds from pension or retirement fund." (a) Does this mean that only current payouts are exempted or are the funds themselves protected? (b) Does an IRA count as a retirement fund? I have both an IRA and a 401(k).

    (2) New Mexico has two property exemptions. One is for $500 and the law specifically excludes cash (and I assume that means cash equivalents). The other is 5K in lieu of a home but is silent on the cash issue, referring only to "real or personal property". Does that mean the 5K can cover cash or is cash always not equal to property under the law?

    Thanks in advance for any insight.

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