| Subject | Date Asked | Expert |
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| Annuity Investment | 6/29/2009 | Bruce Julien |
Q: Julien: I need you to please advise me regarding the appropriateness of a proposed investment. I ...
A: Glen Your suitability for the given parameters looks like you can afford the potential mistake ...
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| Investment Advisor | 6/22/2009 | John D Smith, CFP |
Q: When consulting an investment advisor, does it matter which investment firm one chooses, as long as ...
A: The answer to your question depends on what you are looking for from a financial advisor. Different ...
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| Penalty Free Annuity withdrawal | 6/18/2009 | John D Smith, CFP |
Q: I currently have an ING annuity which I've had since 2004. I've never taken any withdrawals from ...
A: If you are under age 59 1/2 then any withdrawal from an annuity is subject to a 10% tax penalty for ...
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| Capitals gains roll over into IRA? | 6/17/2009 | Bruce Julien |
Q: Recently I received a substantial amount (~$30k) as a cashout for a stock that I owned for more than ...
A: You can't roll it into an IRA. You can't use the contribution against the gain and since you are ...
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| education savings for my son | 6/17/2009 | John D Smith, CFP |
Q: Our son is 1 year old and we want to start saving money for him when he graduates high school, ...
A: If you are looking to save for college then I would consider a college savings plan such as a 529 or ...
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| 401K vs. Roth | 6/17/2009 | Bruce Julien |
Q: Our company dropped the match to our 401K savings plan. I just turned 68, and am still working. I'd ...
A: Converting to a Roth is an irrelevant issue to the point of the dropped match. If you prefer the ...
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| FINANCIAL PLANNING | 6/12/2009 | Bruce Julien |
Q: I purchased a row home with a down payment of $95,000 in a "not-so-good" neighborhood 8/07. I have ...
A: Yes you might but you shouldn't refi the loan, the costs to refi are too high; just pay it off month ...
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| FINANCIAL PLANNING | 6/12/2009 | Bruce Julien |
Q: I purchased a row home with a down payment of $95,000 in a "not-so-good" neighborhood 8/07. I have ...
A: Marie Your house payment now is $400ish? You are smart to plan out your future. Leave the loan ...
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| Finance or accounting | 6/11/2009 | John D Smith, CFP |
Q: Mr. Smith, First I would like to say thank you for taking the time to read this question. My ...
A: Since I am not too familiar with University of Phoenix it is hard for me to answer this question. I ...
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| Finance or accounting | 6/11/2009 | John D Smith, CFP |
Q: Mr. Smith, First I would like to say thank you for taking the time to read this question. My ...
A: If you desire is to pursue a CFP position or analyst position them I would pursue the business ...
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| Xsfer of Credit Union Deferred Savings | 6/10/2009 | John D Smith, CFP |
Q: As a county employee in Texas I enrolled in a county endorsed (but non participatory)457(b)Deferred ...
A: There were law changes a few years ago that allowed for some 457 Def Comp plans to be rolled into ...
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| Is it as important to max out 401K and IRA instead of investing in regular funds? | 6/8/2009 | John D Smith, CFP |
Q: I am 36 years young. I have been investing for the past 10 years primarily in no-load mutual funds ...
A: Since you sound like you have a fairly good understanding of investments, I will share the following ...
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| Pay Debt vs. Invest | 6/7/2009 | John D Smith, CFP |
Q: I have always heard that you should pay off your credit card debt before you take any money to ...
A: Conventional wisdom based purely on the opportunity cost of $$ would suggest that you need to earn ...
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| Pay Priority | 6/7/2009 | Bruce Julien |
Q: I have always heard that you should pay off your credit card debt before you take any money to ...
A: The next attorney you need will be a bankruptcy attorney if you are charging large amounts that you ...
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| Is it as important to max out 401K and IRA instead of investing in regular funds? | 6/5/2009 | John D Smith, CFP |
Q: I am 36 years young. I have been investing for the past 10 years primarily in no-load mutual funds ...
A: With the advent of extremely tax efficient vehicles such as ETF's, the tax free growth of 401k plans ...
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| Names on house title | 6/3/2009 | Bruce Julien |
Q: If we put a title of a house into our grandchildren's names can we sell it before they are 18 if ...
A: Becky Don't do anything related to this idea before you speak to an attorney in your state You are ...
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| net worth | 6/2/2009 | John D Smith, CFP |
Q: I am trying to complete a FAFSA application for my daughter who has just finished her first year of ...
A: Net worth is the total value of everything you own (house, car, bank or investment accounts, company ...
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| Inherited ira distribution to a minor | 6/2/2009 | Bruce Julien |
Q: My sister passed away in 2007. In 2008 and in 2009 I moved money from her traditional IRA to an ...
A: Yes Yes No Patricia, you are trying to handle this yourself, and if it is as complicated as this ...
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| Retirement | 6/1/2009 | John D Smith, CFP |
Q: I want to open a Roth IRA to save for retirement. I want to know: 1) Where should I open the Roth ...
A: With $100 to start the account, your options will be limited. Your best bet may be to open an ...
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| Financial Plan--Roth IRA | 6/1/2009 | Bruce Julien |
Q: I want to open a Roth IRA to save for retirement. I want to know: 1) Where should I open the Roth ...
A: Nobody loves you unless you have a lot of money Nikki Good for you you want to save. 1.1% is about ...
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| Revocable Living Trust | 5/24/2009 | Bruce Julien |
Q: Under what conditions would you recommend that a person get a Revocable Living Trust? Other than ...
A: No more reasons - you hit the only two. Many unscrupulous attys push them when unneeded I believe ...
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| Roth IRA question | 5/21/2009 | John D Smith, CFP |
Q: I understand a ROTH IRA must be open for a five year period before earnings can be taken out tax ...
A: Below is a summary of the withdrawal rules applicable to Roth IRA's. Bottom line is you can always ...
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| Deferred Coimpensation | 5/19/2009 | John D Smith, CFP |
Q: Currently taking monthly paymeents from my deferred comp. I'm not happy with the earnings. Can I ...
A: Whether or not you can roll the deferred comp over depends on how the plan is written. You should ...
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| annuities | 5/19/2009 | John D Smith, CFP |
Q: My parents have most of their life savings in annuities. Half of that amount is with a company ...
A: Unfortunately, in today's day of uncertainty, this is a difficult question to answer since the ...
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| Personal finance for me | 5/12/2009 | John D Smith, CFP |
Q: I am 19 years old i would like to start a career from now and i like to invest and start my own ...
A: I would be happy to review the website, although I need addt'l time to do so. Please email me the ...
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| Retirement Acct Distribution (ESOP) | 5/11/2009 | John D Smith, CFP |
Q: Current ESOP is being distributed. Our income has decreased significantly but of course debt is the ...
A: Whether you choose to pay off debt or not depends on your specific financial situation and what you ...
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| mortgage balance question | 5/11/2009 | Bruce Julien |
Q: First, thank you for your time - it's appreciated. I'm not sure this question has a direct answer ...
A: Joe you are right it is kind of specific, but it is rare that most anyone would be in a rush to pay ...
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| mortgage pay off | 5/10/2009 | John D Smith, CFP |
Q: I have recently retired. I have enough money in a guaranteed growth annuity to pay off the mortgage, ...
A: Whether you choose to pay off your mortgage or not depends on your specific financial situation and ...
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| Medicare and Social Security Relationship | 5/4/2009 | John D Smith, CFP |
Q: I am fortunate in that my husband's job will continue our health plan after we retire. I just read ...
A: Sorry if my prior response was not clear. Since you and your husband have already paid into the ...
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| Medicare and Social Security Relationship | 5/1/2009 | John D Smith, CFP |
Q: I am fortunate in that my husband's job will continue our health plan after we retire. I just read ...
A: When you start collecting social security at the allowed retirement age, you also become eligible ...
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| Capital gains | 4/30/2009 | Bruce Julien |
Q: I am 71 yrs old My income $ 16000 If I sell gold w/ a capital gain of $ 8000 What will be the rate ...
A: I'm not your accountant Ernesto who is who you should you consult. If your income is $16k plus the ...
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| Money Matters | 4/29/2009 | Bruce Julien |
Q: Sorry for the long question, so i shortened it What recommendation for websites do you have that ...
A: Sorry to cut you off Sallie From your beginning standpoint I'd see a FEE ONLY financial planner. ...
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| Website for money matters | 4/29/2009 | John D Smith, CFP |
Q: What recommendation for websites do you have that can help me understand money matters that we have ...
A: Your prior question was not too long; it was not clear. To clarify, are you looking for a website ...
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| Website for money matters | 4/27/2009 | John D Smith, CFP |
Q: What recommendation for websites do you have that can help me understand money matters that we have ...
A: Can you please clarify the information you are trying to obtain. The first part of your email ...
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| 401K distribution | 4/27/2009 | John D Smith, CFP |
Q: I have been contributing to my companys 401K plan for 3 years. My employer used to do a company ...
A: the rules regarding 401k plans prevent you from taking $$ out and rolling into an IRA while still ...
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| mutual funds | 4/27/2009 | John D Smith, CFP |
Q: What fund would you suggest at this time for a long term investment and an aggressive investor?
A: Since each person's financial goals and risk tolerances are unique, it is difficult for me to answer ...
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| 401K usage | 4/23/2009 | John D Smith, CFP |
Q: Smith, I was wondering if I can use my 401K/403B funds to help pay for home improvement/room ...
A: Unless something changed when your wifes employer sold ownership, she can borrow against a portion ...
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| why buy an IRA CD vs a traditional CD | 4/23/2009 | John D Smith, CFP |
Q: If I don't care when I pay taxes on the money I put in a certificate of deposit, why should I buy an ...
A: Depending on your income situation you may be able to deduct contributions made to an IRA account. ...
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| 401k loans to buy down mortgage | 4/22/2009 | John D Smith, CFP |
Q: We have a 5yr arm (460K), 1 year left. Qaulifying loans are 418k in our area. Jumbo loans are at ...
A: The answer to your question is not straighforward since there are tradeoffs. From purely a financial ...
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| Scudder is closing our 401K | 4/17/2009 | John D Smith, CFP |
Q: my husband had a 401K with former employer that has just been sitting there. Scudder has informed ...
A: If your husband is younger than age 59 1/2, then yes, you will be faced with a 10% early withdrawal ...
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