| Subject | Date Asked |
|
| 401k Hardship withdrawal question followup | 3/19/2009 |
Q: Your response was helpful. I am 58 and have heavy unsecured debt associated with 5 college loans ...
A: The answer may be no because you may not qualify to take a penalty-free withdrawal if you do not ...
|
| Supplemental security Income SSI | 3/14/2009 |
Q: I thought but correct me if i am wrong but i thought there were certain accounts like money market ...
A: For SSI purposes, a "resource" is cash or other liquid assets and any other real or personal ...
|
| Roth IRA Early Withdrawl | 3/13/2009 |
Q: It's simple, I closed my Roth IRA early as I'm only 28, it had 5,088.43 dollars in it at the time, I ...
A: Sam If I understand you correctly, please put the info on Line 15a and zero on line 15b so it is ...
|
| IRA Roth | 3/8/2009 |
Q: I had opened up a retirement fund with T.Rowe Price last year for $4K and it seems that the value ...
A: Lucy You should receive the form 1099R from T Rowe PRice where it will tell you how to fill out in ...
|
| Nonprofit - donations - paying for medical bills? | 3/6/2009 |
Q: My nephew was just diagnosed with a genetic/incurable disease and we are trying to raise money or ...
A: Sorry about your nephew. Please find out the organization specializing in that disease - there they ...
|
| simple IRA saving | 3/2/2009 |
Q: Is there an illustration or truth that by saving pretax can actually increase your take home pay? I ...
A: Bill Again This link, http://www.dinkytown.net/java/RothvsTraditional401k.html , is a JAVA ...
|
| Deducting Financial Management Fees | 3/2/2009 |
Q: If you have your portfolio mananged by an individual or a financial management company but do not ...
A: Ms. Hollis No, Investment advisory fees for an individual are only deductible for federal income ...
|
| simple IRA saving | 3/2/2009 |
Q: Is there an illustration or truth that by saving pretax can actually increase your take home pay? I ...
A: Bill again This link, http://www.dinkytown.net/java/RothvsTraditional401k.html will help you ...
|
| Paying debt versus saving | 2/25/2009 |
Q: I have been saving for sometime to be debt free and think I have enough in savings to pay off my ...
A: Cheryl If you are paying the finance charges which may not be tax-deductible and still earning ...
|
| capital gains/losses | 2/25/2009 |
Q: i opened a simple IRA with $140,000 and this tax year have been taking monthly distribution. like ...
A: You put $140,000 in IRA before taxes so when you withdraw, you only pay taxes on what you withdraw, ...
|
| 403b | 2/24/2009 |
Q: Currently in my 403b I contribute the max and have the following allocations for new contributions: ...
A: Bill There is no easy answer, however I suggest to keep contributing to your 403B at same ...
|
| rollover IRA into real estate trust | 2/24/2009 |
Q: We have 9 rental properties. We still owe on 4 loans. We have enough in our 401k to pay off 3 or 2 ...
A: No matter how you try, any withdrawal from any retirement plan (account) will be always subject to ...
|
| Money Help | 2/23/2009 |
Q: I have $20,000 in stocks. Should I sell and put into a CD or some other "safe" place until things ...
A: There is no easy answer. What is your goal and the time frame? If it is for near future needs, ...
|
| non-qualified annuity | 2/20/2009 |
Q: My mother recently died (2008) and left a non-qualified annuity that she and my already deceased ...
A: John again Yes, if the box for taxable amount not determined is unchecked, it means their records ...
|
| annuity vs 401k | 2/15/2009 |
Q: I have a small 401k, I left my company (they closed the business). I have been told the plan is now ...
A: Hoover, As you know from those economic situation, there is no such guarantee. However, if you ...
|
| Question | 2/15/2009 |
Q: currently I have a 10yr/fixed/%4.68 $60,000 mortgage on a $179,000 Condo. I calculated that within ...
A: Please be advised that my following answer may not be the right one because I do not know your ...
|
| taxes on annuity surrender | 2/14/2009 |
Q: During 2008 we cashed in a non-qualifying variable rate annuity and rolled over 3/4's of it into a ...
A: Penny again The code 7 means it is fully taxable. If you feel the part of it should not be ...
|
| taxes on annuity surrender | 2/13/2009 |
Q: During 2008 we cashed in a non-qualifying variable rate annuity and rolled over 3/4's of it into a ...
A: Penny First let me introduce the basic rule: For a withdrawal from a non-qualified annuity that ...
|
| Financial Planning | 2/12/2009 |
Q: I have recently talked to a financial advisor and the only thing I felt like I got out of him were ...
A: Becky Regardless of current situations, all investment opportunities are excellent for the long ...
|
| Waiver of penalty taxes for illness withdrawal | 2/11/2009 |
Q: Ther was a tax form for waive of penalty for early w/drawal from IRA if there was a serious illness. ...
A: When you applied for the withdrawal from your IRA, there is an indication on the form you applied ...
|
| Variable Life Insurance Distributions | 2/10/2009 |
Q: Many years ago I bought a Variable Appreciable Life Insurance policy for my Grandchild. I recently ...
A: Any gain in variable life insurance contract is not the gain, but the ordinary income That is ...
|
| Financial Planning | 2/10/2009 |
Q: I have recently talked to a financial advisor and the only thing I felt like I got out of him were ...
A: Becky I understand your situation. Basically, it is cheaper to buy term insurance and invest the ...
|
| Taxes - IRA Non=Deductible Withdrawal | 2/10/2009 |
Q: I have an IRA that I've had for 6 years. I haven't made any contributions in a couple of years and ...
A: Traditional IRA distributions, regardless whether deductible or nondeductible, made prior to age 59 ...
|
| Roth IRA | 2/9/2009 |
Q: My husband and I make too much to contribute to a Roth IRA, but contribute each year to a ...
A: Eleanor Yes, you can roll over your nondeductible IRA to a Roth without paying any additional fees ...
|
| future worth | 2/7/2009 |
Q: If I choose to take part of my husbands guaranteed retirement, how much will $800 per month be worth ...
A: Susan Let say in several ways so you may grasp the concept: If you receive $800 a month for 35 ...
|
| Cancel trade | 2/6/2009 |
Q: Sorry if this is a repeat-lost the original reply which needed my clarification. I want to know the ...
A: Once you acknowledged the trade request with the broker, he already initated the order and the order ...
|
| Vacant Land Self Directed IRA | 2/6/2009 |
Q: Can I use money in the IRA to improve the property i.e to drill a well and setup a cabin to rent ...
A: You can do but the custodian has to do it for you. You cannot touch IRA money to invest outside the ...
|
| future worth | 2/5/2009 |
Q: If I choose to take part of my husbands guaranteed retirement, how much will $800 per month be worth ...
A: Susan There is no such right answer - because suppose if you take the lump sum and have a short ...
|
| investment statements | 2/4/2009 |
Q: I have had investments with a certain company for about 5 years now. I changed the type of ...
A: Megan I am not aware of the Canadian laws - however, I speak generally. Since you signed the ...
|
| Ira closure | 2/2/2009 |
Q: I am 76 y.o. widow & have Ira's which require yearly withdrawal. These IRA's have been ...
A: Ang My answer below may not satisfy you or not: The IRA is very good one to provide the continious ...
|
| Non-qualfied annuities | 1/30/2009 |
Q: My mom, 82 years old, had a non-qualified annuity and was convinced by a salesperson to transfer the ...
A: Kirk The transfer from non-qualified annuity to the like one has to be done between the companie - ...
|
| Roll In of 401K and Pension to Qualified Plans | 1/22/2009 |
Q: I would like to get some advice on rolling my two 401Ks and one non-contributory pension lump sum ...
A: Will Sorry for not responding promptly - been out of town till now. Now to your question 1, it is ...
|
| follow up question | 1/22/2009 |
Q: I sent a follow up question at that time which I suspect you might not have noticed. With your ...
A: sorry that I overlooked it. If you have several partnerships, you can use the carried over tax ...
|
| Tax Credits and Financial Planning | 1/21/2009 |
Q: Schwartz, In Dec.1996 at the recommendation of a CFP I invested $50,000 in the Boston Capital Tax ...
A: Gerber Based on the information you provided, any unused carryover credits will be used against the ...
|
| VL Tax consequences | 1/20/2009 |
Q: We are cashing in a variable Life Annuity for the cash value. We have contributed $75/month for 10 ...
A: Bill You did not mention whether this is the qualified account (retirement such as IRA) or non ...
|
| turning 70 and one half on April 9, 2009 | 1/16/2009 |
Q: My husband turned 70 on October 9, 2008 which would make him seventy and one half on April 9, 2009. ...
A: Recent legislation suspended RMDs from IRA and employer-sponsored retirement plan accounts for the ...
|
| housing | 1/15/2009 |
Q: I recently apply for housing benefit for my father and was refused because they said he had more ...
A: George In order to provide the sheltered accommodation program as well as to be fair to everyone, ...
|
| 401k | 1/12/2009 |
Q: My company may be closing shortly. I am 57 years old and realize the job hunt may take a while. I ...
A: Loren again Whenever you convert from qualified retirement plan to Roth IRA, it will become taxable ...
|
| Which debt to pay off first? | 1/12/2009 |
Q: I am a 35 year old nurse with two young children. We took out a 25K home equity loan last year to ...
A: Danielle Not knowing the further details on your loans, especially interest rates, it is the ...
|
| 401k | 1/11/2009 |
Q: My company may be closing shortly. I am 57 years old and realize the job hunt may take a while. I ...
A: Loren There is no best answer whether to touch your 401K in case of no job. Because you may ...
|
| Savings bonds | 1/8/2009 |
Q: I recently found two EE savings bonds that were in my grandmother's name, POD to my mother. Both my ...
A: Mary So long as the total value of the bonds or other treasury securities is $100,000 or less, ...
|
| Traditional IRA's | 1/4/2009 |
Q: My husband and I make over $160k and I have a employer sponsored retirement plan. Can we contribute ...
A: For the year 2009, it is $176,000 GI (Adjusted Gross Income)(traditional IRA) or $166,000 (roth ...
|
| Student Loan refinancing | 12/30/2008 |
Q: Both have a fixed rate of 4.75. They total 27844.82 and my minimum monthly payment amount is 212.31 ...
A: Richie There is no such right or wrong answer. It is up to you both feeling comfortable to pay off ...
|
| 403b Question | 12/28/2008 |
Q: My wife has approximately $10,000 in a retirement account (I think it is a 403B plan, Illinois ...
A: Tim The simple answer is no because both retirement account and education account are different. ...
|
| IRA | 12/23/2008 |
Q: I am a 44 year old male on permanent disability - recently my mother passed away and left me an IRA ...
A: August Assume that you're not the surviving spouse (you already said that - however, let me explain ...
|
| Roth Rollover? | 12/18/2008 |
Q: my question regards converting a Traditional IRA into a Roth IRA. My situation is a little ...
A: Jason I am smiling because I was in the same boat years ago. After figuring out the pros and cons, ...
|
| re:403b | 12/11/2008 |
Q: I do not have much in my 403b, I haven't had it that long. But, I now need it. I am wondering what ...
A: SHelly again Since I do not know your income tax bracket, let assume it may be 15% tax bracket. ...
|
| Coverting my 401(k) to an IRA | 12/7/2008 |
Q: I work for AT&T, who just announced a 12k worker layoff. Even though I have 10 yrs in, I'm ...
A: Depending on which year you may have low taxable income, it may be sense to rollover from 401K to ...
|
| Dealing with the Recession | 12/7/2008 |
Q: What advice do you have on surviving the current recession? What if a person loses their job? ...
A: Gehan The best answer may be to have sufficient emergency fund (savings/checking) at the bank to ...
|
| IRA Allocation | 12/6/2008 |
Q: I'm want to make sure I have my IRA properly allocated. Question 1 - I want to have an aggressive ...
A: Chad Any recommedation is only a suggestion. YOu should choose what you feel more comfortable and ...
|
| Thrift Savings vs. Emergency Fund | 12/6/2008 |
Q: Which is more important? Increasing contributions to my thrift savings plan at work or establishing ...
A: Rick There is no such right answer to the degree of importance. It is important that you feel ...
|
| Savings Bonds | 12/3/2008 |
Q: I have quite a few Series EE savings bonds that have matured and I was wondering if I could roll ...
A: Debbie Unfortunately, you are not allowed to roll over the non-retirement assets (such as US Saving ...
|
| 401K | 12/2/2008 |
Q: I am 54 years old. I will get retirement of $1200 monthly at age 62 from my first career. I'm 4 ...
A: ROger It depends on whether there will be the best tax advantage to contribute as much as you can ...
|
| annuities | 11/28/2008 |
Q: First of all Louis--Happy Thanksgiving! My question concerns an annuity we own the has a net asset ...
A: Bruce for your comments. Actually, I prefer to wait till the market recovers - could be within six ...
|
| Possible Mismanagement of funds | 11/28/2008 |
Q: I put my assets into the hands of a highly recommended Investment firm on September 8, 2008 - ...
A: Diane The simple answer is that it is against the regulations that the firm commingled your money ...
|
| annuities | 11/27/2008 |
Q: First of all Louis--Happy Thanksgiving! My question concerns an annuity we own the has a net asset ...
A: Bruce Please verify that the annuity which has current value less than cost basis to determine if ...
|
| Annuities& Taxes | 11/27/2008 |
Q: I am really confused. The short of it is my husband invested in an annuity a bit over 5 yrs. ...
A: Janice First of all, how it works: You make a one-time payment to purchase your income annuity, ...
|
| Retirement Money | 11/25/2008 |
Q: I've an Annuity which just expired. I'm being advised by a Financial Agent into opening a 5 year ...
A: Ms. Romeu Actually I cannot recommend because I do not know your goals or objectives. Am not sure ...
|
| Purchase of Gold Bullion at Market Price | 11/24/2008 |
Q: I would like to purchase (and physically possess) some gold bullion at the current market price. Can ...
A: Dan Whenever you buy something, the merchant or seller has to make money by adding the kind of ...
|
| 403 | 11/18/2008 |
Q: I took a 50% loan against my 403b a few months ago for my friend ... but after he didn't need the ...
A: Alex If you plan to withdraw, the distribution will be taxed even it will reduce your loan. If you ...
|
| savings bonds | 11/15/2008 |
Q: I have several EE savings bonds that I was given for my daughter's college education. She is now in ...
A: If she is your dependent, she can earn approx. $800 without paying taxes. If over, it will be 10% ...
|
| Traditional IRA conversion | 11/15/2008 |
Q: I am thinking of converting my traditional IRA to an existing Roth account. What do I need to ...
A: Lisa If you did make nondeductible IRA contributions, you should keep track of those contributions. ...
|
| Retirement Investment Strategy | 11/14/2008 |
Q: I'm 40 years old, work for the state of Oregon and 6% of my salary goes into a retirement system. ...
A: It does not matter whether you max your Roth and Retirement Account, you should keep contributing ...
|
| Annuities | 11/13/2008 |
Q: My parents, both over 80, currently have about $250,000 invested in 2 annuities both with AIG. They ...
A: I have to disclose to you that I do sell AIG products as well as Pacific Life products. Most ...
|
| 401K | 11/13/2008 |
Q: My husband is 66 and retired. We have 401K money and are uneasy leaving our nest egg with just one ...
A: Lynn again Yes, you need to write numbers down and see the pros and cons of both options, with ...
|
| 401K | 11/12/2008 |
Q: My husband is 66 and retired. We have 401K money and are uneasy leaving our nest egg with just one ...
A: You have to weigh pros and cons.... 1. Yes it is good idea to withdraw this year and to pay only ...
|
| RMD and income annuities | 11/6/2008 |
Q: If I have $400,000 in my 401(k) at age 701/2, I understand how to calculate my RMD. However, if in ...
A: Lew De Risi First of all, I myself do not recommend buying any annuity for people who already are ...
|
| 401k Loan Payoff Options | 11/3/2008 |
Q: I have an outstanding loan on my 401k that I'm currently paying off, its scheduled to be completed ...
A: Kevin Yes, it depends on each company's 401K policy regarding the termination. Normally, if this ...
|
| 401k loan and default | 11/2/2008 |
Q: This is a very simple question but I would like your advice with it please. My wife and I borrowed ...
A: Emad Let me make it simple.... If you pay off what you owe, there will be no taxable or deductible ...
|
| FILING A COMPLAINT | 10/30/2008 |
Q: RETIRED AND LIVING OFF SOCIAL SECURITY. WITH A WALL ST BROKERAGE, LOST A BIG CHUNK RECENTLY ON ...
A: Lorianne If you live in NY, here is the link which you can do without driving to NYC: ...
|
| Selling off stocks | 10/30/2008 |
Q: RETIRED AND LIVING OFF SOCIAL SECURITY. WITH A WALL ST BROKERAGE, LOST A BIG CHUNK RECENTLY ON ...
A: If your former broker bought the unsuitable stocks for you, depending on what risk tolerance you ...
|
| How much money do I have to take out at 70+ | 10/30/2008 |
Q: How much money does a person who turns 70+ have to withdraw the following April from their IRA? ...
A: Connie Usually about 1/20 of your previous year's December 31st balance. Please use this website: ...
|
| AFRAID TO RE-INVEST | 10/29/2008 |
Q: RETIRED AND LIVING OFF SOCIAL SECURITY. WITH A WALL ST BROKERAGE, LOST A BIG CHUNK RECENTLY ON ...
A: Loraine There is no right or wrong answer. The only way is to set the goals. It appears that you ...
|
| follow up | 10/29/2008 |
Q: Question Hello. I have an old 401k that was moved to Edward Jones. 15,000 is in a mutual fund and ...
A: Jace again I did respond to your previous question on October 20, 2008 as follows: Dear Jace It ...
|
| SEP-IRA | 10/28/2008 |
Q: Husband is a sole proprietor uses Sch. C .... When funding a SEP-IRA would the write off be on the ...
A: Vicki It has to be the employee retirement plan, not IRA. Therefore, $3,000 to IRA cannot be ...
|
| Annuities vs trust accounts | 10/26/2008 |
Q: I need to establish an account that provides an ongoing source of income for a relative that has ...
A: Weis, To make it short, an annuity is good for a steady fixed monthly income and will last for the ...
|
| US tax on foreign retirement | 10/24/2008 |
Q: My father is a US citizen that worked for a German company in Germany all of his life. He always ...
A: JOnathan Please understand that I am not a tax attorney. Call the IRS for their opinion. However, ...
|
| Pension Lump Sum | 10/23/2008 |
Q: I am eligible to receive my pension early (age 55). I would like to start receiving a lifetime ...
A: Joe Before I can answer your questions, you need to know whether your pension plan is defined ...
|
| pay off a home equity loan? | 10/22/2008 |
Q: I am 59 years old and currently contribute the maximum to my 457 tax deferred retirement fund. My ...
A: Jack You answered your own question.....you'd feel like a weight is lifted if you paid it. I say ...
|
| How to pay for corporate shares | 10/21/2008 |
Q: I'm getting ready to buy stock in my firm and wanted to know if getting a personal loan is better ...
A: Neal It may make sense to borrow - however, those financial institutions will ask you the purpose ...
|
| roth or traditional | 10/17/2008 |
Q: I have an old 401k that was moved to Edward Jones. 15,000 is in a mutual fund and 5,000 is in 1 ...
A: It appears that your old 401K was moved to Edward Jones in a traditional IRA account - and if you ...
|
| turning 70 and a half | 10/17/2008 |
Q: What happens when you have an IRA and turn 70 and one half?
A: You can't take it with you, and that definitely pleases the Internal Revenue Service. But the tax ...
|
| Company 401K account transfer | 10/17/2008 |
Q: I have a serious financial issue and legal question. I still have my 401K account (100 % vested) ...
A: If you still have the papers regarding your account with former employer, the policy there should ...
|
| Bond sale vs. redemption | 10/16/2008 |
Q: My father passed away this summer, and in asking about transferring joint brokerage accounts to my ...
A: Pam TO be sure, you have to know the cost basis of father's part on his date of death and also on ...
|
| pension | 10/15/2008 |
Q: My husband is due to receive his UK pension lump sum approx $100,000 and then a monthly amount of ...
A: I am not clear what you said if you transfer the payments. If you transfer from non-USA retirement ...
|
| annuities | 10/14/2008 |
Q: Mr Schwarz: I am 67, recently retired and divorced. I would like your opinion on annuities. Right ...
A: There is no good or bad answer. However, it is important to understand the consequences whether ...
|
| Retiring next month | 10/12/2008 |
Q: My wife is 60 yrs old, and retiring next month. She will be receiving approximately $170,000 from ...
A: Jeff Thanks for the clarification. It is good idea to pay off the credit card balances. However, ...
|
| Retiring next month | 10/11/2008 |
Q: My wife is 60 yrs old, and retiring next month. She will be receiving approximately $170,000 from ...
A: If I do not answer your question correctly, please resend. If I understand your question, I do not ...
|
| Retirement | 10/9/2008 |
Q: I am 58 and have a small 401K retirement account that had a balance of $46,000 a week ago and has ...
A: Brenda I understand your concern. Yes, the market may continue to spiral down a bit more- however, ...
|
| Annuities | 10/8/2008 |
Q: I am 70 and need a little more safety due to the market as I draw income from my investments. In my ...
A: Ms. Fitzgerald I agree with you about your not liking this kind of life income guaranteed annuity. ...
|
| Equity Protected Funds | 10/7/2008 |
Q: Louis what are Equity Protected Funds and what financial areas due they invest in? ANSWER: HI, ...
A: There is no such annuity fund. An annuity (especially variable annuity) is a plan with variety of ...
|
| Self Directed IRA | 10/7/2008 |
Q: On self directed IRA's I was told the only investments allowed is MARGIN trades. What exactly is ...
A: Jerry First let me share the facts about IRA - Margin Trading: Conventional wisdom has convinced ...
|
| Financial planning | 10/6/2008 |
Q: What is the appropriate vehicle for five children to protect their mothers' assets while also ...
A: Kristen B First of all, any retirement account cannot be a part of trust until the owner's death. ...
|
| Equity Protected Funds | 10/6/2008 |
Q: Louis what are Equity Protected Funds and what financial areas due they invest in?
A: Daniel The basic principle of most equity protected investments is that the bulk of investors' ...
|
| Long Term Care insurance, | 10/6/2008 |
Q: I am a 50 years old man and am having a very difficult time planning for long term care as part of ...
A: Vic Before we go on, there is no perfect answer - you never know what will happen tomorrow. So it ...
|
| ROTH IRA Contributions | 10/2/2008 |
Q: I am 68 and receive Social security and distributions from an IRA. I have a small amount of income ...
A: If you have not received any distribution from a Roth IRA, you may contribute to Roth IRA up to your ...
|
| Front End Laod Fees | 9/28/2008 |
Q: Louis, When buying shares of mutual funds through a financial advisor with a front end load fee ...
A: Greg again Yes, you will incur a charge everytime you invest. When you reach a specified level, ...
|
| Front End Laod Fees | 9/27/2008 |
Q: Louis, When buying shares of mutual funds through a financial advisor with a front end load fee ...
A: Greg Glad that you become concerned about these breakpoints. Here are some links which will give ...
|
| Taxes on RMDs | 9/25/2008 |
Q: I understand if I have more than one IRA I can pool the RMDs from all the accounts and only take an ...
A: Dorothy again. If you paid NJ taxes on your investments before you put the net proceeds into the ...
|
| Taxes on RMDs | 9/24/2008 |
Q: I understand if I have more than one IRA I can pool the RMDs from all the accounts and only take an ...
A: Dorothy again Whenever you contributed to IRA, there were no NJ state tax deducton. Only what you ...
|
| mutual funds to cd | 9/24/2008 |
Q: I am 71 and only source of income is social security and a small pension (under $800.00. Other than ...
A: Mr. Reaser Whenever you sell the mutual fund and if there is a profitable captial gains, you will ...
|
| investment from settlement | 9/24/2008 |
Q: Our two sons have been awarded a settlement in a lawsuit and one of our sons is 19 years old and we ...
A: Jim Anything can be arranged to satisfy your wishes with your sons, and if properly documented and ...
|
| Taxes on RMDs | 9/23/2008 |
Q: I understand if I have more than one IRA I can pool the RMDs from all the accounts and only take an ...
A: Dorothy You can take the total RMD from one IRA account instead of several RMD amounts from all ...
|
| the ultimate safe investment | 9/21/2008 |
Q: I have a well established professional practice and, although at retirement age, I wish to continue ...
A: Jason There is no such ultimate safe one! Every bank account and every investment account have ...
|
| money mkt funds | 9/20/2008 |
Q: Is a cash mgmt fund a mutual fund... and is money market funds safer? (no FDIC I know) Both $1 per ...
A: Mitch Any money market fund, especially in a cash management fund with any broker/dealer is usually ...
|
| reported income for FASFA | 9/20/2008 |
Q: Current year contributions to iras and 401ks get added back as reportable income on the FASFA form. ...
A: Steve Easy question for me to answer - smile... Yes all contributions to all qualified retirement ...
|
| stock market | 9/18/2008 |
Q: Schwarz, I currently have a portfolio of American Funds, New World Fund, AMCAP, Small cap world and ...
A: Ms. Victoria Since you are 52 years old and I expect you to work till age of 62 or 67 or whatever, ...
|
| Savings Bonds/Taxes | 9/15/2008 |
Q: My parents have about $20,000 in E bonds that are not paying interest any longer. They are 79 and ...
A: Mr. Mueller There is no such way to avoid the taxes, however, here are some ideas: The increase in ...
|
| student loans | 9/10/2008 |
Q: I'm new to student loans. I didn't have any for my undergraduate studies, but may require one for ...
A: Paul You have to fill out the FAFSA before you can shop around for student loans. When you submit ...
|
| IRA | 8/30/2008 |
Q: I have been told that I can use my IRA to buy rental property. Is this possible and how?
A: You can use the money in your IRA to buy real estate -- from raw land to single-family homes to ...
|
| Acquiring IRA stock certificates | 8/25/2008 |
Q: I am concerned about the custodial relationship of the companies holding my IRA and 401K stocks. In ...
A: Derek Joyce The cash and securities – such as stocks and bonds – in any brokerage account - held by ...
|
| Powerball | 8/16/2008 |
Q: Powerball winnings. I'm a better forming a trust or LLC to own the winnings?
A: Bob I have to let you know that I do not give the legal opinions because I am not the lawyer. ...
|
| Savins Bonds | 8/15/2008 |
Q: My mother passed away over a year ago. I am executor of the estate. She purchased some savings ...
A: Brian The bonds cannot be liquidated until you show the document, ie., death certificates of those ...
|
| preferred and common stock | 8/14/2008 |
Q: Could you explain the advantages and disadvantages of both preferred and common stock? I would also ...
A: .. Stocks are characterized by the fact that companies pay dividends on them. As for preferred ...
|
| Early withdrawal from Annunity | 7/31/2008 |
Q: Help. I'm waiting for a decision on SSD. I presently have a mortgage on a home which I purchased ...
A: Lois Thank you for your grading of my service. Since you live in Florida, there is no State income ...
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| Early withdrawal from Annunity | 7/31/2008 |
Q: Help. I'm waiting for a decision on SSD. I presently have a mortgage on a home which I purchased ...
A: Lois If you file for bankrupcty, you may not have free from debts. Maybe a little. Anyway, if so, ...
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| Retirement | 7/31/2008 |
Q: I am 28 yrs. old, female/R.N, engaged. Me and my fiance are big into the idea of NOT working our ...
A: Darcie First question, what amount would you like to receive as an income every year when you no ...
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| Early Withdrawal from IRA for Home | 7/30/2008 |
Q: I withdrew 10K from an IRA for a first time home purchase. When I file my taxes, what kind of proof ...
A: The document you should keep in record is the HUD Settlement. When you fill out the Form 5329 ...
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| Older student paying for college | 7/29/2008 |
Q: I own my home, have money in a Roth IRA, and have money in various investments. I am an older ...
A: Larry Maybe this answer may not be what you want to hear. If you do have taxable income and do use ...
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| IRA rollover | 7/28/2008 |
Q: scenario: have married couple (both 72+), both have a traditional IRA. One spouse passes away, the ...
A: John K again Yes, as long as the check says payable to your Bank IRA account registration name, it ...
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| IRA rollover | 7/27/2008 |
Q: scenario: have married couple (both 72+), both have a traditional IRA. One spouse passes away, the ...
A: John K If I do not answer your question correctly, please rephrase again. As far as I understand ...
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| 401K Alternatives | 7/25/2008 |
Q: I am 54 years old with a substantial amount in conservative 401K that are loosing money what else ...
A: Lynn I am not sure of your question --- because your 401K is still tax deferred until you retire ...
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| IRA CD | 7/24/2008 |
Q: I am 73 yrs old. I have a IRA CD that will mature in 3 more years. Can I withdraw the money now ...
A: Kamire It is not the age discrimination. It is the failure of the bank's fidiucary duty to provide ...
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| IRA CD | 7/23/2008 |
Q: I am 73 yrs old. I have a IRA CD that will mature in 3 more years. Can I withdraw the money now ...
A: Basically, if you withdraw any of the principal before the maturity date the bank may impose a ...
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| selection of the best settlement option for annuities | 7/20/2008 |
Q: Schwarz, My mother recently passed away and I am the only child and sole beneficiary for her ...
A: As a non-spousal beneficiary your options depend on the IRA plan established by the custodian. ...
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| Thrift Savings Plan Annuity | 7/19/2008 |
Q: I am 60 years old and am retiring from the US Postal Service. I have $200,000 in my Thrift Savings ...
A: Larry Please visit this website: http://www.myfederalretirement.com/public/193.cfm as ...
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| financial consulting for deaf | 7/18/2008 |
Q: Schwarz, My son-in-law's brother is deaf, married (wife is partially deaf) and have 2 children. ...
A: Mr. Mueller There may be no such organization that can communicate to deaf people regarding debt ...
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| 403b withdrawal | 7/17/2008 |
Q: I am 63 years old and want to do a partial withdrawal from my 403B to pay down my house note. Is ...
A: Jean Since you are passed by age of 59 1/2, there will be no penalty other than normal federal and ...
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| Waiver penality on CD | 7/15/2008 |
Q: I understand that early withdrawal of CD can cause a penalty. However, I have heard that if your ...
A: Avery You may be confused between two things: CD has own withdrawal penalty if it does not mature. ...
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| Structured Deposits | 7/9/2008 |
Q: How does a structured depsoit work ? Please explain it with stocks or interest rates ?
A: A structured deposit is essentially a combination of a deposit and an investment product, where the ...
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| investment funds from an IRA | 7/8/2008 |
Q: Mr. Schwarz, Thanks you in advance for your time. I have just been presented with an opportunity ...
A: Christina The only one simple answer is NO. In order to make the decision, will the investment ...
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| 401k | 7/7/2008 |
Q: I have a question, if you are laid off from your job, can you access your 401k like take it out of ...
A: Sharon The simple answer is that as long as you are still on company's payroll, you may not be able ...
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| 401k | 7/7/2008 |
Q: I have a question, if you are laid off from your job, can you access your 401k like take it out of ...
A: It is up to each employer's policy - if your job is terminated, you can transfer to your traditional ...
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| opt out of 401k | 7/2/2008 |
Q: Can I rollover my 401k to an IRA while I am still working at my company? The fund choices are very ...
A: Yuri By regulations, you may not be able to transfer your 401K out until you terminate your job ...
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| 401k transition | 7/2/2008 |
Q: I recently changed companies and want to move my 401k to end paying additional administrative fees. ...
A: Judy Yes, there is always an opportunity cost when moving money around and this opportunity cost ...
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| Investment Options | 7/2/2008 |
Q: I need some advice concerning which short term savings/investment avenue to take. What would be the ...
A: John In terms of current markets and your short term goal, saving accounts, CDs, money market ...
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| 401K rollover question | 6/24/2008 |
Q: I would like to rollover 401K account from my previous employer into two 401Ks, one managed by a ...
A: Bonnie YOu can split the rollover - one to 401K and the other to your "IRA" account where you can ...
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| IRA distribution | 6/20/2008 |
Q: I turned 70 in January 2008, and I will now begin receiving distributions from my 401K, Simple IRA, ...
A: Lois The simple answer for all retirement accounts is, " Must start withdrawing funds at age 70 1/2 ...
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| 401k loan for mortgage down payment | 6/19/2008 |
Q: I'm engaged and my fiance and I are looking to purchase a home, a first home purchase for either of ...
A: Kevin To borrow from 401K is costly than to borrow from the lender as a home equity loan - just ...
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| can I move a 401-k from a current employers? | 6/17/2008 |
Q: I work for a company whose financial footing is getting shaky. We just laid off 1500 people ...
A: Chris By law, you cannot transfer your current 401K out until you are terminated from the company. ...
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| Funds contributed to retirement fund | 6/15/2008 |
Q: Years ago while in college, I worked for the Northern Pacific Railroad (now Burlington Northern ...
A: Marilyn Teachers can withdraw any retirement fund after being separated from the employer or being ...
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| Small business grants | 6/12/2008 |
Q: I wanted to apply for a SBG for my pottery studio and was wondering if you have any advice on where ...
A: Micheal You may look at this web site: http://usgovinfo.about.com/library/weekly/blsba.htm for ...
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| remainderman | 6/11/2008 |
Q: If I make my son Remainderman of a piece of property; can I then make my daughter Remainderman after ...
A: Charles I am not a legal expert so do not assume this as the legal answer. A remainderman is ...
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| Rental Property | 6/9/2008 |
Q: Greetings Mr. Schwarz, My mother owns a rental property and has grown tired of it. Actually she has ...
A: You may need the legal services to handle the change of ownership as a gift. You will assume the ...
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| 401k eligibility | 6/5/2008 |
Q: I contribute to an employer-sponsored 401k at my day job, but I also have a significant amount of ...
A: Carol Based on your age, you are allowed to contribute up to $15,500, with $5,000 over page 50, the ...
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| Forced to open IRA | 6/5/2008 |
Q: One of the paragraphs in my recent divorce decree (from January) stipulates the percentage of my ...
A: Debi Any money transferred from any "retirement" account is still the retirement fund - must be ...
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| 401k question | 6/3/2008 |
Q: The company that I worked for bought the place in Nov. 06. They were to match 4% of our 401k ...
A: Steve Are you saying that they pay the matching every year on the month of May? If so, yes, the ...
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| IRA'S | 6/2/2008 |
Q: I just saw an article claiming now is a good time to convert to a Roth IRA because both taxes and ...
A: JOhn There is no such good or bad answer - because of your age, and you may not withdraw the money ...
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| Credit Union Financial Planning | 5/31/2008 |
Q: Our financial planner is employed by a State Credit Union. I am curious if he gets a commission of ...
A: Dorothy No matter whoever you choose the financial advisor - they are always compensated by all ...
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| 401K Hardship Loan | 5/30/2008 |
Q: My wife and I have been trying to get a hardship loan from her 401K provider for an in-vitro medical ...
A: Mike The provider has no right to deny your request if you meet those criterias. That would be ...
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| Trust or? | 5/23/2008 |
Q: Need something simple as Estate will in the end probably consist of a home valued at $350,000 plus ...
A: Bill In your case, you may need the lawyer to prepare the SNT (Special Needs Trust) for your ...
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| Investing | 5/23/2008 |
Q: "Hello, my late uncle left me 7 million dollars which was a solid transfer from his bank to my bank. ...
A: Sherry There is no such fact that the bigger the firm the better. The number one rule is to get ...
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| Paying for a major expense | 5/23/2008 |
Q: I was the guy who had a long thread with you about the broker that was charging me 1% of my 401-K ...
A: John again Generally, if you have money, it is better to pay $2,600 rather than to pay fees and ...
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| Look at my financial situation&let me know what's the highest I should pay for a new car | 5/22/2008 |
Q: I want to buy an exotic vehicle in the price range of $xxx,xxx, and I need some help determining ...
A: Tony Buying such car is your personal choice. There is no such good or bad choice, but your ...
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| Pay off a loan, buy a house, or get married? | 5/19/2008 |
Q: I'd really like opinions and advice on my current financial situation, and what to do next. I'm 33 ...
A: Randy Please bear with me if this is too simple and short answer. Basically, you are better off ...
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| Annuities | 5/17/2008 |
Q: From my very limited understanding of annuities it appears that annuities have high fees and ...
A: Jim Yes, one bad thing about annuities is high fees. Good benefits are explained below. Annuities ...
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| CD's | 5/15/2008 |
Q: Are there other choices besides banks that may be better to obtain CD's? Or are there other short ...
A: Sallie Since you did not specify what kind of risk, I assume you want the safest one, which is any ...
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| QDRO distribution | 5/9/2008 |
Q: May a QDRO provide that the distribution to the wife shall be reduced by the amount she owes to the ...
A: John Since a QDRO is a legal document, what ever mentioned in the document must be followed. ...
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| UTMA tax | 5/9/2008 |
Q: My son is turning 14 this year, and he has an UTMA account with a 8k gain so far, I wonder if I ...
A: Gigi Plan 529 only accepts cash, not transferred securities so they will be taxable if liquidated. ...
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| 403b transfer | 5/7/2008 |
Q: I currently have a 403b with one company that is doing very well and I would like to keep ...
A: Jenn I am not sure if your employer is in process of switching from one company to another company. ...
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| IRA's | 5/1/2008 |
Q: My wife and I are looking to open a new IRA account. The question is do we go Traditional or Roth? ...
A: Ken Traditional IRA does not have any income eligiblity. Roth IRA does have the income elgibility. ...
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| Retirement Fund Withdrawals | 4/29/2008 |
Q: Although I know it's best not to make withdrawals from your retirement funds, sometime it's ...
A: Shelly Since it may not be relevant to the age, it is better to leave the Roth IRA account in order ...
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| ANNUITIES | 4/28/2008 |
Q: I RECENTLY CLOSED A CD THAT MATURED AT THE BANK. I EXPLAINED THE FUNDS WERE GOING TO ANOTHER BANK ...
A: Ken The simple answer, no matter what they try to tell you, is that there is no such free lunch. ...
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| Annuities | 4/27/2008 |
Q: I hear stories both bad and good about annuities.He meet with an insurance company salesperson and ...
A: David Am not sure if I get right information. However, let me try my best - if you say 10 year ...
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| Opinion on Target Date Retirement Funds? | 4/18/2008 |
Q: I have recently started investing some of my savings into Target Date Retirement funds (specifically ...
A: Brad First of all, there is no such proven scientific result - only they are based on historical ...
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| 2 401(k)'s? | 4/18/2008 |
Q: I got laid off from my job last month but was fortunate to find a new better paying position fairly ...
A: Clueless (is that your name? Smile) Only one negative about having more than one 401K is the ...
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| IRA contributions | 4/13/2008 |
Q: My husband is a retired DOD employee. We live off his annuity and social security. I do not work I ...
A: Marcie Only if either spouse has an earning from work, not from retirement or social security, both ...
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| RMD - IRA Contribution | 4/12/2008 |
Q: I am doing an RMD (70.5 yrs old) starting in 2007. If I or my spouse have earned income ($10K+) ...
A: J.R. You can't contribute any more money to your traditional IRA after you reach age 70 1/2 in the ...
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| Roth IRA withdrawal...subsequent tax treatment | 4/6/2008 |
Q: Status: 2007 taxes/Married filing jointly/Gross income $120k, both W-2 earners In 2007, we ...
A: Maurice First, you have not indicated your age - I assume before 59 1/2 at end of the year - ...
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| Mid year Eligibility for 401K | 4/6/2008 |
Q: March 2007 I started putting $300 a month in a Traditional IRA because at the time I was not ...
A: Janice According to the regulations below, focus on the date: December 31st - if the person not ...
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| 401(k) after being laid off | 4/4/2008 |
Q: My husband was laid off and would like to roll his 401(k) into an IRA. However, his former employer ...
A: Kay Have you received the new statement from a new provider? If not, please contact the new ...
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| ira | 4/2/2008 |
Q: I have a self directed ira at a brokerage firm. A large percent of my shares are in a company that ...
A: David again No matter what, the naked shares are illegal in United States. Also, whether the ...
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| ira | 4/1/2008 |
Q: I have a self directed ira at a brokerage firm. A large percent of my shares are in a company that ...
A: Mr. Baldwin It does not matter whether you have the certificates or not - you still own the number ...
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| Roth IRA | 3/31/2008 |
Q: I have a question about Roth IRAs. I was watching financial expert Suze Orman the other day and she ...
A: Danielle The historical rate of returns do not guarantee for future years. For more information on ...
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| Roth IRA | 3/31/2008 |
Q: I have a question about Roth IRAs. I was watching financial expert Suze Orman the other day and she ...
A: Danielle First of all, because of your age, you are allowed to contribute up to $5,000 a year. The ...
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| Taxes Paid on Mutual Funds? | 3/31/2008 |
Q: Schwarz, I am doing my taxes for 2007 and am interested in the following - I bought several mutual ...
A: Brad Investors must pay taxes on any investment gains they realize - same as paying taxes on any ...
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| Non qualified Annuity | 3/29/2008 |
Q: I have a non qualified annuity that I purchased with a onetime payment in 1997. It has since lost ...
A: Bill Yes and no... Suppose if you invested $100,000, and then terminated the non-qualified ...
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| Investing HELOC funds | 3/27/2008 |
Q: I'll try to be as concise as possible. I own two properties; one is a condo, the other is a single ...
A: Robert Yes, there are news about cutting down the HELOC limit - however, I do not think that is the ...
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| Money on Checking Account | 3/26/2008 |
Q: We got lots of money on tax return this year (over $10K), which is really great. We don't need this ...
A: Hana SInce you are thinking of buying a bigger home within one or two years, the best way is to put ...
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| Money on Checking Account | 3/25/2008 |
Q: We got lots of money on tax return this year (over $10K), which is really great. We don't need this ...
A: Hana Without knowing your financial health and assets, it may not be easy to respond to your ...
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| Retirement Planning | 3/25/2008 |
Q: I am 55 years old male and a divorcee for 5 years. One of the divorce settlement was to give up the ...
A: John Chan There is no good or bad answer. It depends on your own decision whether to take tax ...
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| Real estate in trust | 3/24/2008 |
Q: My father-in-law established a trust for all his assets - including his house, with he and his two ...
A: Craig THe value (stepped up cost basis) of the house should be based on the date of death. ...
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| first time home buyer | 3/19/2008 |
Q: My daughter and son-in-law, newly married, are saving for a first home. Should they be saving in a ...
A: Diane A "first-time homebuyer" doesn't really have to be a first-time homebuyer. That's because the ...
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| 401k | 3/19/2008 |
Q: I want to close my 401k that is thru my employer and open an IRA. My employer tells me I ...
A: Bruce It is impossible to close your 401K while you are employed by the same company who handles ...
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| Infinite Banking Concept | 3/18/2008 |
Q: I was hoping for some more help. Have you ever heard of the infinite banking concept? What do you ...
A: John Once you say the words, "viable retirement solution", there are always pros and cons, not ...
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| foreign retirement pension transfer to US | 3/15/2008 |
Q: Can you tell me how to handle transferring a foreign pension retirement plan into the US and if so ...
A: If it is a foreign retirement plan, it may not be transferable to an United States "qualified" ...
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| 401k | 3/13/2008 |
Q: have been putting money into a 401k. I put in after-tax money, and my company matched 60%. The ...
A: Kathy To me, it is impossible to put in after-tax money into 401K. The regulations do not allow ...
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| Roth IRA | 3/13/2008 |
Q: I just got through looking over a friends Year end Mutual fund Statement. This is her IRA ROTH acct. ...
A: Please have your friend contact the phone number shown on the statement and have her verify the ...
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| Non qualified annuity | 3/11/2008 |
Q: I have an annuity I bot in '86. I invested $30,000 in a non-q.variable annuity. This was after tax ...
A: Joy It is a long explanation - so to make it easier, I enclose the website, ...
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| Reverse Mortgage | 3/3/2008 |
Q: Facts: My 81 yr old Mother owns (free and clear) a 4 yr old home in Reno, NV (approx. value: ...
A: Janis I believe this is not the issue of the financial plan. It is the legal issue which the ...
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| i-401 | 2/24/2008 |
Q: I own a small business and have employed my teen last year and issued a w-2. Since it was my kid ...
A: Vicky You have to compare the pros and cons of having a solo 401k versus hiring a kid and not ...
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| Misc tax deduction for Fin. Planner Fees | 2/24/2008 |
Q: 2 questions: 1. I have a traditional IRA with a Financial planner. They take .8%/12 of the assets as ...
A: Herb Okay, whenever there is a fee or a loss inside the IRA account, it cannot be deductible ...
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| Misc tax deduction for Fin. Planner Fees | 2/23/2008 |
Q: 2 questions: 1. I have a traditional IRA with a Financial planner. They take .8%/12 of the assets as ...
A: Herb To make it simple, if you have both non-retirement account and retirement account under same ...
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| variable annuity | 2/21/2008 |
Q: I started a variable annuity with western reserve life about 5 years ago which is about $10,000. I ...
A: Kevin Due to insufficient information, here is the answer I think may be best for you this time. ...
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| marriage penalty | 2/21/2008 |
Q: My fiance and I are getting married in May and I ran our taxes this year under the assumption that ...
A: Ken No matter what you will try - the problem with marriage penalty may be that the combination of ...
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| financial planner vs. diy | 2/21/2008 |
Q: We gross around $200k/year and plan to set aside an additional $20k per year beyond the 401k ...
A: Ken I understand you very well. You can do anything you want to do! Smile. However, if you do ...
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| early withdrawl from my 403 b | 2/16/2008 |
Q: I was terminated from my employer in 2007, did not qualify for unemployment, and have not been able ...
A: Patty You may qualify to take a penalty-free withdrawal if you meet one of the following ...
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| hoping for some advice... | 2/15/2008 |
Q: I hope not to bore you with too many details, I just have some anxieties, and I would appreciate an ...
A: The more I know about you, I do agree with your concerns that IRA may not be the best one for you. ...
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| hoping for some advice... | 2/15/2008 |
Q: I hope not to bore you with too many details, I just have some anxieties, and I would appreciate an ...
A: Nicole There is no such perfect plan! However, with a good discipline such as contributing as much ...
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| rmd's from 401k & ira's | 2/12/2008 |
Q: I KNOW I can group my IRA RMD'S, My question IS can I pull RMD money from my 401k to cover the 401 ...
A: William The simple rule is: The IRS requires those age 70.5 and older to take out a "required ...
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| 401K Benefit - Transferring Overseas | 2/12/2008 |
Q: I am writing to enquire if it is possible to transfer the funds from the 401K benefit overseas if it ...
A: Due to little information, basically the 401K funds can be transferred to any qualified retirement ...
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| Shared living arrangements | 2/11/2008 |
Q: My wife and I are planning on selling our home and buying a new one which we'll share with our only ...
A: Bill You do need the lawyer to write up the agreement so everyone's interests are protected as well ...
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| cya | 2/6/2008 |
Q: I am a 67 yr. old widow, and have a portfolio with AG Edwards. Along with social security and what ...
A: Karen There is no such safe plan anytime. However, if you are not concerned about the value of ...
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| Fees | 2/5/2008 |
Q: I have a broker that came highly recommended. For the 401-K plan I have, he charges 1% of the fund ...
A: John again To be honest, I prefer quarterly fees because if it goes up every quarter, I get more ...
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| Fees | 2/5/2008 |
Q: I have a broker that came highly recommended. For the 401-K plan I have, he charges 1% of the fund ...
A: John again.... REITs may be excellent ones for long term goals only. To check the background of ...
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| IRA Question | 2/4/2008 |
Q: I'm 46 and self-emp. My biz is very small which nets under 50K a year. I currently get 4.7% on my ...
A: Susie Absolutely any Roth IRA is a worth goal. That is only if you have sufficient cash flow for ...
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| 401k | 2/2/2008 |
Q: I work for a marine transportation company that has beat its profit record for 17 consecutive ...
A: Ed Sorry for my delayed response... There is no such right or wrong method to overcome the unknown ...
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| taxes on inherited savings bonds | 1/30/2008 |
Q: I inherited savings bonds in 1988 and cashed them in 2007. I received a statement from the bank ...
A: Ben You only pay for earnings since the date of death. The website, ...
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| Save for a down payment | 1/23/2008 |
Q: I would like to buy property in about 1 year. I will need about $65k down. I have $15k to invest ...
A: Tiffanie Since you said one year, it is safer to put in savings/CDs rather than any investment ...
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| dividend stock | 1/22/2008 |
Q: I see Wachovia and Bank of America banks with a return of 7 and 8%. I am looking for income since I ...
A: Kelly That is fine as long as you can bear the ups and downs of the stock price in both Wachovia ...
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| retirement | 1/20/2008 |
Q: Schwarz, I am 47 and have worked in the public for many years, however for the past 6 years I have ...
A: Lisa If any public employer does not deduct from the paycheck for Social Security, they must have ...
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| 401k Question | 1/19/2008 |
Q: Good day, This is a bit complicated, so I hope I can explain it correctly. My company has just ...
A: John It may appear not appropriate for the employer to do this method. You can check with the U.S. ...
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| non-taxable distribution | 1/15/2008 |
Q: I was investigating rolling over my 401(k) with a previous employer to an IRA when I noticed that a ...
A: Dave I am speaking in the general terms based on the regulations - that no matter what you withdraw ...
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| investment | 1/14/2008 |
Q: are investors compensated for bearing systematic and unsystematic risk? how does increasing the ...
A: Sanjana Nope, that is a reason for making any investment. You can't eliminate risk when you invest, ...
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| Tax question | 1/12/2008 |
Q: During the last quarter, my retirement plan lost almost 4000. Is that tax deductable?
A: Todd Anything that gains or loses inside any retirement account is not reported. Only any that is ...
|
| RMD missed in account transfer | 1/10/2008 |
Q: I transferred my Mother's IRA out of Schwab and to a local branch of Spectrum Capital Investments in ...
A: Judy Actually Schwab should have sent the RMD letter to your mother earlier in 2007. She should ...
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| retirement assets | 1/9/2008 |
Q: My mother in law wants to have some of her husband's assets put into her name as she is worried her ...
A: Bill If her husband is still alive, his retirement accounts CANNOT be transferred. Once he passes ...
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| transfer invested funds | 1/9/2008 |
Q: My father recently passed away, he has 3 different investment accounts totaling $320k. I am unsure ...
A: Adam Any non-retirement account has to be transferred to the beneficiary's name. Any earned income ...
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| Financial Advisers | 1/9/2008 |
Q: I am 29 and just starting to plan/save for retirement. I need guidance in choosing the right funds ...
A: RL It is against the regulations that I make any recommendation. So it is better for you to ...
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| 401K withdrawl rules | 1/6/2008 |
Q: My wife and I are considering buying land, can we take a penalty free withdrawl from our 401K for ...
A: Dave There is no such penalty free withdrawal from your 401K unless you are over age of 59 1/2 and ...
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| annuities | 1/6/2008 |
Q: Louis, I am a 100% disabled veteran. My fiance' has a cd 85k @ 5%. And two Hartford annuities valued ...
A: Mark Have to review the tax consequences if you want to pay off the mortgage - so cannot comment on ...
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| Distribution of a 401K as part of a divroce | 1/4/2008 |
Q: I am in the process of going through a divorce. My wife and I own a home valued at $400K with ...
A: David I may or may not answer your question completely - let see if you follow me or not. QDRO is ...
|
| Custodian to custodian rollover - who qualifies? | 12/28/2007 |
Q: I am in the process of wanting to do a rollover from a 401k account into a Scottrade IRA. I would ...
A: Natalie I am dumbfounded by what Scottrade said - it is a simple standard for all financial ...
|
| Old 401(K) | 12/19/2007 |
Q: I still have 401(k)with my old employer (about $9000) and just opened another 401(k) with my new ...
A: Danijela Was gone on an emergency trip - am back now. Thanks for your patience. Leaving old 401K ...
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| Payoff 2nd mortgage vs fund Roth IRA | 12/16/2007 |
Q: OK this is the age old question of payoff mortgage vs retirement savings, but with facts specific to ...
A: David Thank you for your patience - was gone on emergency trip. I am back. You are correct to ...
|
| Roll $ from Foreign retirement plan to US IRA | 12/13/2007 |
Q: If I have worked in a foriegn country and have accumulated $ in a pension plan, and I terminate ...
A: Marguerite If it is a foreign retirement plan, it may not be transferable to an United States ...
|
| Stock certificate registration, ira distribution | 12/9/2007 |
Q: I have asked for a distribution from my traditional IRA in the form of stock certificates. They ...
A: Roy You cannot get any other than cash from any retirement account because the IRA must send the ...
|
| Individual 401k account | 12/7/2007 |
Q: So far, I have always had an employer provided 401k account. I may be changing jobs soon and the new ...
A: Priyam Solo 401(K) is designed for self-employed or independent contractor only. Any W-2 employee ...
|
| Employer 401k OPT OUT? | 12/6/2007 |
Q: My daughter is a DR. and her medical group provides access to an unmatched 401k through an agency. ...
A: William First for Roth IRA, like many tools that offer tax advantages, Congress has limited who can ...
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| Investing For Teenagers | 12/5/2007 |
Q: I am a senior at Millbrook High School in Raleigh, North Carolina. My English class is currently ...
A: Eddie You could do it by using the calculator for saving goals. If it is for 13 years at 10% ...
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| withdrawing from fund... | 11/29/2007 |
Q: I have a fund (not sure if it's a 403B or if it's called a mutual fund) with Planmember Corp ...
A: Alex... First, if you are still the U.S. Citizen working abroad, your foreign earned compensations ...
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| withdrawing from fund... | 11/27/2007 |
Q: I have a fund (not sure if it's a 403B or if it's called a mutual fund) with Planmember Corp ...
A: Alex again It depends on your taxable income. Counting $80,000 foreign-earned income exemption, ...
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| Saving for a house | 11/26/2007 |
Q: My fiance and I are looking to save for our first home. He thinks I should put money away in a 403B ...
A: Cari First of all, it is nonsense to put money in 403B and then take it out again for the house ...
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| Transfer of a non-qualified 401K | 11/26/2007 |
Q: my question is the following: I have a Non-Qualified 401K through my employer and I am not happy ...
A: Luc As a regulation, any 401K is nontransferable until your employment is terminated. That is ...
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| withdrawing from fund... | 11/26/2007 |
Q: I have a fund (not sure if it's a 403B or if it's called a mutual fund) with Planmember Corp ...
A: Alex Any distribution or withdrawal from any qualified retirement plan is taxable regardless of ...
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| retirement | 11/23/2007 |
Q: Robert, age 55, plans to retire when he reaches age 65. He is not currently an active participant ...
A: Susan Basically, if the employer has any qualified retirement plan, the employee may not have the ...
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| Series exams | 11/21/2007 |
Q: I'm considering what it would take to become a Financial Planner. There are several Series exams ...
A: Mike Sorry for the delayed answer. There is no such right or wrong answer. It depends on each ...
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| 401K & Roth IRA contributions | 11/14/2007 |
Q: From the answer for another question on the subject, I now know that I can contribute to both a ...
A: Deb Sorry for the delayed answer - I had to focus on the priority task. Here is the answer... The ...
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| 401(K) Investment - Can I withdraw overseas? | 11/14/2007 |
Q: My husband and I both put a substantial percentage of our earnings into our respective 401(k) plans. ...
A: Sze I would like to give you the broad answer as follows: You should be looking at the rate of ...
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| 403B Rollover | 11/13/2007 |
Q: I was laid off and am looking into opening my own business. I have a 403B thru my previous ...
A: Mary Beth Since your job was terminated, you have the right to transfer your 403B to your own IRA ...
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| IRA | 11/12/2007 |
Q: I am recently divorced and have transferred some funds from my husband's IRA to my IRA as part of ...
A: Nicole Withdrawing any from any qualified retirement plan, including IRA, is always taxable. If ...
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| Roth IRA contributions while abroad | 11/4/2007 |
Q: I work in Germany for a German company. This year I have no US-based income. I have made ...
A: Sarah No. Only assets in a plan governed under the US Internal Revenue Code can be rolled to an ...
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| Equity Index Annuities | 10/29/2007 |
Q: From what I understand, and EIA (Equity Index Annuity) is an annuity that credits interest based ...
A: Frankie again Basically the way the insurance company works is they guarantee your principal. They ...
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| Equity Index Annuities | 10/29/2007 |
Q: From what I understand, and EIA (Equity Index Annuity) is an annuity that credits interest based ...
A: Frankie Equity Index annuities enable an individual to participate in the upside potential of an ...
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| Mutual funds held in joint tenancy | 10/27/2007 |
Q: When my wife was single, her mother died in an accident and my wife received money from the ...
A: Dave First, I am not the lawyer. so do not rely on my response below. If it does not require the ...
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| Mutual funds held in joint tenancy | 10/27/2007 |
Q: When my wife was single, her mother died in an accident and my wife received money from the ...
A: Dave I understand you very well. First of all, let me give what can be done breaking a JTWROS: ...
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| Early IRA withdrawal penalties/taxation | 10/23/2007 |
Q: I personally have $32,000 in a (excuse my ignorance) CB&T Cust IRA & another $16,000 in a CB&T Cust ...
A: Jeff Any debt is not a retirement plan (qualified plan) so QDRO does not apply to any debt. Any ...
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| Early IRA withdrawal penalties/taxation | 10/23/2007 |
Q: I personally have $32,000 in a (excuse my ignorance) CB&T Cust IRA & another $16,000 in a CB&T Cust ...
A: Jeff Due to divorce, any retirement plan can be transferred to another divorcee's account via QDRO. ...
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| ANNUITY | 10/20/2007 |
Q: Louis Hi, I have an Annuity with Hartford Life, for some reason they have change or moved my Policy ...
A: Ken Normally you should receive the annual statement from the provider at least. Look up the phone ...
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| Building my "team of experts" | 10/18/2007 |
Q: I am 41 and make $125,000 year as an ad agency executive. The future looks promising...with a strong ...
A: Brent Thanks for your patience. Here is the answer I share with other prospective clients: ...
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| 401k &457 | 10/12/2007 |
Q: I work for Ventura County and Currently have a 401k plan, I am going to work for L.A. county who ...
A: Samuel Sorry fo the delay due to my vacation. It is the fact that the only practical difference ...
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| traditional IRA | 10/11/2007 |
Q: In April 2006 I contributed $3800 to a traditional IRA to get a tax deduction for 2005 tax yr. An ...
A: Steve Sorry for my delayed answer - I was on vacation. Here is the answer: You have two options, ...
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| Muni Bonds vs Taxable CD's etc. | 10/3/2007 |
Q: We are retired in 15% tax bracket Income is high enough to have Soc.Security taxed to limit of85% We ...
A: Charles First, let me share how to calculate: It's not that hard a decision. You simply convert ...
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| annuity in a IRA | 9/24/2007 |
Q: I am 64 year of age and have all of my investments in a traditional IRA at Vanguard. I have been ...
A: Bob again Yes the annuity is in the complex world. Let me try this way: Fixed annuities pay a ...
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| Gifting Stocks and College Savings Plans | 9/23/2007 |
Q: A family member would like to gift a good-sized portion of stock to my sons. These stocks have been ...
A: Tom Let me share my own experience... I gave my shares to each of my daughters during each own ...
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| annuity in a IRA | 9/23/2007 |
Q: I am 64 year of age and have all of my investments in a traditional IRA at Vanguard. I have been ...
A: Bob A significant concern for anybody in retirement is that they might outlive their available ...
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| Self-Directed IRA | 9/21/2007 |
Q: Greetings: I might want to set up a self-directed IRA (to purchase real estate). Can I do this ...
A: Lawrence There is a little-known IRS provision lets you extend your real estate purchasing with ...
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| investing | 9/19/2007 |
Q: 1. a big q for U.-- I am trying to manage my 3 accts-2 UGMAs and one IRA. Because the later is ...
A: No financial institution including Fidelity is expected to caution you about the risk consequences ...
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| invstng | 9/19/2007 |
Q: 1.what is safer--buying saving bonds or putting money in cd ? what changes due to rate cut of today ...
A: Hart Nothing is always safe. Bonds and CDs have the interest rate risk. As of now, the rates will ...
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| Injury Lawsuit proceeds and Thrift Savings Plan | 9/15/2007 |
Q: Greetings, I am a Federal Retiree with monies in the Thrift Savings Plan (Like Federal Ira). Rules ...
A: Connie Anything from employment earnings (reported on W-2) can be contributed to any retirement ...
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| 401K and I am in Europe | 8/31/2007 |
Q: I have a 401K in the US and I recently move to another country. I tried to transfer it to an IRA, ...
A: Alex Have you instructed the 401K agent to issue the check to your IRA to be mailed to the other ...
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| Social Security Entitlement | 8/27/2007 |
Q: I'm trying to find out if I'm entitled to any of the money my Mom paid into social security all her ...
A: Susan Without knowing your age, the best answer is to visit the web site as follows: ...
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| financial planning | 8/26/2007 |
Q: I'm recently divorced, and my property settlement agreement includes receiving monies from my ex's ...
A: Darlene Sorry for the delay. Please accept my apology for not responding promtply. If you receive ...
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| financial planning | 8/26/2007 |
Q: I'm recently divorced, and my property settlement agreement includes receiving monies from my ex's ...
A: Darlene Your message did not say if you will get the monthly distributions from both annuity fund ...
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| Transfer of Assets | 8/25/2007 |
Q: My wife and I are both 65. When our sons were very young we set up brokerage accounts for both of ...
A: David No matter what you are trying - there will be always a chance of the IRS audit now or later, ...
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| Is this Mismanagement of funds? and what do I do? | 8/25/2007 |
Q: About 16 months ago I started a relationship with Ameriprise financial against my fiance's best ...
A: Renee You do have all rights - because you told the advisor what you want. It is your own money! ...
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| Inheritance | 8/23/2007 |
Q: Inherited $21,000. What is the wisest use of this money. I am 66, married and ready to retire. But, ...
A: James The wisest use is to pay off loans with high interests - such as credit card debt, consumer ...
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| TSP - Investment Advise | 8/22/2007 |
Q: Should I take my TSP from Government to invest in your business?
A: I have problems to send several messages to your email addresses you gave to me. I was waiting to ...
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| Interest rates | 8/22/2007 |
Q: Do you know the difference between the Prime Rate and the LABOR rate? I am interested in making a ...
A: Carol It is spelled LIBOR, not LABOR. The simple answer is: The federal funds rate is the ...
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| Investing Home Equity | 8/21/2007 |
Q: I've recently heard of people taking out home equity and re-investing the equity into an annuity ...
A: Z It will require lengthy reading to understand everything. The simple answer is no because it is ...
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| In-service withdrawl from 401K | 8/12/2007 |
Q: I have pretax and post tax money I can withdrawal from my 401K. Can I take the post tax money and ...
A: You have not indicated whether you are no longer employed (in other word, are you retired?). If you ...
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| Forex | 8/9/2007 |
Q: Would you go to the following site and give me your honest opinion about the investment strategy it ...
A: Scott It is a kind of MLM (multi-level marketing) which I believe you may be familiar with other ...
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| never filed 5500-ez for money purch keogh | 8/2/2007 |
Q: I was a self-employed consultant from 1985 thru 1997 (Tax year). I have established a keogh money ...
A: Jan Sorry that you may not be aware of the IRS regulations. Let me share the summary of Form 5500: ...
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| Bearer bonds | 7/29/2007 |
Q: Bearer bonds are more desirable to many investors than registered bonds. Question is where do you ...
A: Leo First of all, A bearer bond is a bond with no owner information upon it; presumably the bearer ...
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| 72(t) withdrawal/investment mix | 7/27/2007 |
Q: I am 54 and my wife is 48. I have been unemployed since last year when my employer left town. I ...
A: Dave again Suppose if the total portfolio is $1,065,000, you can choose either 4% to last your ...
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| 72(t) withdrawal/investment mix | 7/26/2007 |
Q: I am 54 and my wife is 48. I have been unemployed since last year when my employer left town. I ...
A: Dave It does not matter what allocations are needed in your investment mix. However, I need to ...
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| Withdrawal of IRA CD to buy a house | 7/17/2007 |
Q: My husband and I have $8000 in 4 CD's which funds are deposited at a local bank. We have a signed ...
A: Rosalind Actually all banks have different policies - you have to inquire at your bank to find out ...
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| tax deduction for early withdrawal penalties from CD in an IRA | 7/16/2007 |
Q: I understand the penalty for early withdrawal penalties from a CD are a tax write off but do the ...
A: Mark again Any penalty, loss, expense inside any retirement plan is not deductible. Only any ...
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| 401k withdrawl for home purchase | 7/13/2007 |
Q: My wife and I are in escrow on our first home. We planned to use $22,000 401k for part of the down ...
A: David Every employer has a policy for employees, so that may be true. She should have the 401k ...
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| IRA compensation for financial advisor | 7/11/2007 |
Q: I have my IRA account in the brokerage account and my son is managing it on the daily basis. I would ...
A: Vladmir again Anything is reasonable as long as there is a legal document done between you and your ...
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| IRA compensation for financial advisor | 7/8/2007 |
Q: I have my IRA account in the brokerage account and my son is managing it on the daily basis. I would ...
A: Vladimir 1. Is your son recognized as a financial advisor? Is he registered with either SEC or ...
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| Keogh plans - first time home buyer exception | 7/7/2007 |
Q: I am borrowing 50% of my 401k for a home purchase (my Broker Dealer and Employer have established ...
A: Rick Through plan loan features, many employers allow you to borrow up to one-half of your total ...
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| 403b and State Pension | 7/6/2007 |
Q: I'm a 26yo police officer, married and no kids. I just transferred to a new dept. I was with a ...
A: Nathan Due to the regulations, I cannot make any comment on any mutual fund, ETF, or equities. ...
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| inflation rate | 7/1/2007 |
Q: Louis...can you tell me the inflation rate for the last two years, July 05 to 07? I have a tenant ...
A: Sorry for the email mixup. Also, please accept my apology for the delay of the answer - was ...
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| 401K or Roth IRA | 6/25/2007 |
Q: Up to the max amount that my employer matches my contribution, it's clear the advantage that the ...
A: Richard I agree with you on what you are concerned about. Please go to this possible best web site ...
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| Annuity | 6/18/2007 |
Q: Greetings. I bought an annuity 11 years ago with after-tax dollars (non-qualified). The surrender ...
A: Larry Only the taxable portion (earned income/gains) will be subjected to 10% Premature ...
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| Annuity | 6/16/2007 |
Q: My mother who is 78 was approached by her bank in which she has an IRA ($55,000), invested in CD's. ...
A: Vince Any annuity is expensive due to several cost factors (commission/fee, annuity cost, and ...
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| Investing in life Insurance | 6/11/2007 |
Q: I would be interested in your financial advise. It's pretty basic but I want to know if you think ...
A: Tom Both are good - it depends on your financial goals. Both do have fees and different tax ...
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| Social Security payments and IRA contributions | 6/7/2007 |
Q: I am 46 and am now receiving social security disability payments. I also receive some additional ...
A: Karen Since you are not employed, you may not be able to contribute to any IRA plan. Any ...
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| tax free bonds vs. tax free anunities | 6/2/2007 |
Q: I have been told tax free bonds are better than tax free annuities,lower commissions paid to ...
A: The answer is yes, however, it is not the tax free annuity. It is tax-deferred annuity. The ...
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| 401k to IRA | 6/1/2007 |
Q: My daughter recently left a job to return to graduate school. She had a 401k with a prior employer ...
A: Dee She has up to 60 days to rollover the check from 401K to IRA. If 60 days were passed, it is too ...
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| life insurance proceeds | 5/28/2007 |
Q: In the event of my husbands death, what do I do with the life insurance proceeds to insure that I ...
A: Deborah It appears that your husband wants you to invest in no-load mutual funds (no front or back ...
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| Financial planning | 5/25/2007 |
Q: I am 35, wife is 33. We have 2 small children under age 3. She will be starting work in 2008, but ...
A: Ulick Very good that you have a good size of assets based on your age. It depends on your ...
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| Self Employment Income? | 5/6/2007 |
Q: I am currently disabled and have been since 1989. I was injured at work and have been classified ...
A: John Sorry for this delayed response - I thought I did respond and I was reminded that this ...
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| 401K rollover | 4/16/2007 |
Q: My wife has quit her job to start a family. I was going to cash out her 401K(17,600) to payoff her ...
A: Tim Sorry for the delayed answer if it inconvenieces you. Suppose if you invest, let's say, in ...
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| IRA | 4/15/2007 |
Q: I took a ROTH IRA for me and my spouse on April 15 2006 for the years 2005/2006. I qualified for ...
A: Satish If you found that you can't contribute to 2006 due to income limit, you may either withdraw ...
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| Non-deductible Traditional IRA cancellation | 4/13/2007 |
Q: Is it legal to cancel my traditional IRA contribution before tax return due date? This is due to the ...
A: Berth again Yes, it applies to the earned income. However, I reread your question - I may provide ...
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| IRA | 4/13/2007 |
Q: I am 22 yrs old and I have a traditional IRA that I initially funded with 7k. Now my account is ...
A: Manny No matter whether you stay in IRA or Roth IRA, any withdrawal prior age of 59 1/2 is still ...
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| SOCIAL SECURITY,IRA,TAXES | 4/13/2007 |
Q: JUNE 2006 I STARTED RECEIVING SOCIAL SECURITY. I HAD NOT REACHED FULL RETIREMENT AGE. I AM RECEIVING ...
A: Carolyn No matter what you will do, any withdrawal from IRA is still taxable income. If you ...
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| Financial Job | 4/8/2007 |
Q: I needed advice, I have been searching for a job lately in government. Nonetheless been very ...
A: Edward Yes, it is up to either company or individual to pay for exam fees and licensee fees. I ...
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| Deducting IRA payments from Social Security payments | 4/6/2007 |
Q: I am retired and drawing social security. Can I deduct money from my social security payments into ...
A: Archie Nope - because social security payments are tax free - or partially taxable depending on ...
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| self employed IRA 401K quandry | 4/5/2007 |
Q: I have a part time job (earned 60K, used 20K for 401k)-no other benefits(Social security paid- w2 ). ...
A: You are limited to one QRP with one employer - and the maximum per year is $15,000 and with 401K ...
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| self employed IRA 401K quandry | 4/5/2007 |
Q: I have a part time job (earned 60K, used 20K for 401k)-no other benefits(Social security paid- w2 ). ...
A: Vichu You can set up Solo 401K only for this year - too late for the previous year because it has ...
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| Non-deductible IRA | 3/27/2007 |
Q: I just wanted to make sure that there will be early withdrawal penalties (10% for after tax ...
A: Becky I am not sure with your calculation. If it is only $50 increase, then $50 will be taxable ...
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| Non-deductible IRA | 3/27/2007 |
Q: I just wanted to make sure that there will be early withdrawal penalties (10% for after tax ...
A: Becky Until you are age 59 1/2 you cannot take anything out of either kind of IRA without penalty. ...
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| mortgage vs investment | 3/14/2007 |
Q: I own my home. I have been thinking about getting a mortgage and investing the money in mutual ...
A: Stacy You have to understand that there is no good or bad answer to your question. You must face ...
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| tax shelter lump sum proceeds | 3/12/2007 |
Q: Darn it, I won't be able to tell them when to pay me. But perhaps I can retire this year, depending ...
A: Bobbie again Simple clarification is that, unless the injury is physical, any settlement or award ...
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| tax shelter lump sum proceeds | 3/11/2007 |
Q: I will be getting about $50,000 to $100,000 this year as proceeds from a personal injury lawsuit. ...
A: Bobbi It has nothing to do with your age. It is based on the IRS regulations as follows: All ...
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| Variable Annuities | 3/11/2007 |
Q: Why are annuity owners constantly being warned not to have one when past the age of 68?
A: Teebore To make the answer short, it is not cost effective - it takes about 20 years to make it ...
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| 401K administration fee | 3/9/2007 |
Q: Does a previous employer have legal right to start charging an administration "fee" to an ...
A: Scott Sorry for the delay of answering your question - at least I found the good source that will ...
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| Early 401K withdrawal | 2/23/2007 |
Q: I understand that a person can make penalty free withdrawals from a 401K when leaving a job at age ...
A: Dave I am very aware that you can split your IRA into several accounts. Your withdrawals are based ...
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| 8% increase in Social Secuity past 66 | 2/22/2007 |
Q: I called SS office to ask a question about my relatives Medicare and while on the line I mentioned ...
A: Tom As you know, I did research previously - it simply says, "Your benefit will be 50 percent of ...
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| 8% increase in Social Secuity past 66 | 2/16/2007 |
Q: I am just referring to the increase 8% over the full retirement age. Example: my benefit will be ...
A: Tom Sorry for the delay - Had to research to be sure that I give you the correct answer. Any ...
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| 8% increase in Social Secuity past 66 | 2/16/2007 |
Q: Does a spouse benefit from the increase amount past age 66 if she draws off her husband instead of ...
A: Tom I am not sure if I follow your question - if not, please reply back with more details, and I ...
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| Calculating Capital Gains on 401k Loans. | 2/15/2007 |
Q: I had obtained a couple of loans from a 401K account I owned as a small business owner. I closed ...
A: Michael You will receive a 1099 from the plan which will show you the exact amount to report. This ...
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| Capital Gains deferment for personal property sale? | 2/14/2007 |
Q: I am selling a home I owned as personal property for approx. 5 years. My current outstanding ...
A: Robert What was the cost basis of your home - including any improvement, if any? Then subtract it ...
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| Help with financial planing | 2/5/2007 |
Q: I am 33 years old, soon to be married. 1- I have saved $300,000 in a money market account paying ...
A: Frank Congrats soon to be married. You are doing fine by saving that much. My answers below is ...
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| Waiver of penalty for withdrawal of Custodial CD (IRA) | 1/31/2007 |
Q: LJS-- Here's the address I have for the bank which holds my I.R.A. (CD). I certainly appreciate ...
A: Call this customer service number 1-888-KEY-2020 and ask for either supervisor or manager of ...
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| Waiver of penalty for withdrawal of Custodial CD (IRA) | 1/30/2007 |
Q: I am a 74+ year old retired woman on a samll fixed budget and would like to make an early ...
A: Joanne First of all, I do not see why should your Custodial CD mature in 2011 based on your age. ...
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| Roth IRA or 401k or Buy time in Def Ben Pl | 1/22/2007 |
Q: I was given a gift of $4000. I'm trying to decide how best to invest the money. Since it is tax ...
A: Cathy Roth IRA is the best one of all retirement plans - so investing $4,000 to your Roth IRA will ...
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| IRA deposits | 1/15/2007 |
Q: Louis, Is there a limit that a household earnings has to be under in order to qualify for the IRA ...
A: Rich I did not receive your follow-up question until this morning. So will you please change your ...
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| IRA deposits | 1/14/2007 |
Q: My wife and I have a traditional IRA, is it too late to deposit the max into it for the tax benefit ...
A: Rich It is not too late - you have up to the deadline of filing 2006 income tax return - that is ...
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| Non-qualified annuity transfer | 1/3/2007 |
Q: I have a non-qualified tax-deferred variable annuity with which I am not very happy. I would like to ...
A: Pete To make it short, any non-qualified account is not eligible for any retirement or qualified ...
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| Saving money for after college | 12/29/2006 |
Q: I am graduating from college in one year with my BS in accounting. How much money should I save so ...
A: William I may not be the right person - there is no right or wrong advice - it depends on what you ...
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| Best Financial Planning Firms to be an agent with? | 12/22/2006 |
Q: Are there any online reviews of different firms as far as their track record and the different ...
A: Sal Honestly I do read some kinds of reviews in different financial services magazines from time to ...
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| Career in CFP | 12/21/2006 |
Q: I am mechanical/ industrial engineer by profession, with developed skills and expertise in ...
A: AUra As far as I read in latest news, the job market in the financial services is one of several ...
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| Straight out of College | 12/16/2006 |
Q: Schwarz. I am 22 years old and just got a job that pays $40k a year. I currently spend about $1200 ...
A: Tony First you have to write down your goals with the time frames. From there, you can determine ...
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| 401K | 12/13/2006 |
Q: I work for an Indian casino in California. We have a 401K plan with Transamerica to which I ...
A: Ray If your 401K is with Transmerica, your employer does not have access to your own account. It ...
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| IRA / Schedule R / Early Withdrawal | 12/7/2006 |
Q: I don't know the correct answer to your response. However, when I worked I was in the 15% tax ...
A: Lisa again Ok, let assume that it will be 15% federal income tax rate and 10% early penalty (you ...
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| IRA / Schedule R / Early Withdrawal | 12/6/2006 |
Q: My AMERITRADE IRA account value was $1,982.39 My account distribution amount that I received after ...
A: Lisa Is $629.72 calculated from Schedule R? If so, it is due to your other income you reported on ...
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| T-Bills & Tax Deferment | 11/25/2006 |
Q: i have a question about using treasury bills for tax deferment purposes. the scenario: i have been ...
A: Bill It is still legitmate as long as you do report the taxable gains/interest/losses in the next ...
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| Individual 401(K) | 11/16/2006 |
Q: Can my Solo (self-managed) 401(K) loan money to my business? The loan will essentially be a 2nd ...
A: Jon You, as an individual, can borrow from your own 401(k) solo plan. You may not consider this ...
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| TSP | 11/10/2006 |
Q: I am a federal employee for 16 years and have about 8 more years to work. I have been invested in ...
A: Mike There is no right or wrong answer - also, I do not know your risk tolerance criteria and your ...
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| What type of investment to pass on.... | 11/9/2006 |
Q: My father, a month shy of 67, would like to start investing $60 per month in something so he can ...
A: Before I can answer, does your father prefer to keep in his name? My idea is to contribute to ...
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| Withdrawling money from a 401k | 10/27/2006 |
Q: I work for a small company (less than 25 employees) in Pa. I recently looked into taking a loan (or ...
A: Michele Please visit this website about the loan: http://www.401khelpcenter.com/loans.html If ...
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| Should I pay off student loans? | 10/23/2006 |
Q: I have a lump sum of money coming in from work (about $30,000) in which I plan on paying estimated ...
A: Cindy again Did you deduct estimated business expenses from your earnings and then take out 25%? ...
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| Should I pay off student loans? | 10/23/2006 |
Q: I have a lump sum of money coming in from work (about $30,000) in which I plan on paying estimated ...
A: Cindy There is no good or bad answer because anything has the consequence in the future. However, ...
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| Early 401K Withdrawls | 10/22/2006 |
Q: I was recently laid off and am 55. If I start taking out of my 401K in essentially equal payments, ...
A: Bill Once you read 59 1/2 years old, you are free from any regulation - you can decide how much to ...
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| IRA rollover into LLC Trust for realestate investment | 10/21/2006 |
Q: We are in Colorado Springs Colorado. Are looking to purchase a duplex with IRA funds from my wife's ...
A: JOhn Once the funds are in non-employer traditional IRA account, you can do into a self-directed ...
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| 401k termination Distribution | 10/12/2006 |
Q: Five years ago I worked for an employer where I participated in their 401k plan. When I left their ...
A: Denise It is a standard that all former employers to authorize the request to attest that you are ...
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| real estate investments | 10/5/2006 |
Q: I am 51 if that will change your answer.I currently own a rental unit in Washington D.C. that ...
A: Pamela Because of your soon-to-retire age, it may make senses to do 1031 starker exchange and to ...
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| real estate investments | 10/3/2006 |
Q: I currently own a rental unit in Washington D.C. that produces about $300 worth of profit a month. I ...
A: Pamela Due to lack of info on your age, I would suggest the Starker Exhcnage 1031 rule - where you ...
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| 401K | 10/1/2006 |
Q: I am a 22 year old student who is highly interested in preparation for my 401K investment. I feel ...
A: All 401K plans regardless of which employers are very good ones to start. It is better to get the ...
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| How soon should an investment company post my 401k contribution? | 9/26/2006 |
Q: I contribute to my company's 401k every month. But I found that the investment company never posted ...
A: Gene Every employer must contribute to each employee's 401K account within a reasonable time. Two ...
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| variable annuities for retired person | 9/24/2006 |
Q: My mother is 86 years old and her broker has been putting lots of her money into variable annuities. ...
A: Mr. Stocker Based on your mother's age, she may be ripped off or misinformed. The best way is to ...
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| Rollover IRA | 9/19/2006 |
Q: Six months ago, I rolled over 70k from my 401k from a previous employer and invested in an ira ...
A: Sharon Variable Annuities are good only if and if you understand how it works. (it is different ...
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| Mother-in-law's stocks | 8/17/2006 |
Q: First, I'd like to thank you for getting back so quickly. Second, no, she does not need the money ...
A: Shanna again IF it was your father-in-law's ownership of shares, the value would be stepped up at ...
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| No employer 401(k) | 8/16/2006 |
Q: I will be changing jobs next month and going to a firm that doesn't have a matching 401(k) plan. I ...
A: Andy Unless you are forced to transfer your 401K out, you may want to leave it alone until you have ...
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| Short Sell on Stocks | 8/16/2006 |
Q: I wanted to find out if a person goes through a brokerage (i.e. Ameritrade) to sell short a stock, ...
A: Lawrence Regardless of three days to settle, you can sell up to same number of shares same day. If ...
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| STOCKS VS. IRS | 7/18/2006 |
Q: Which one gives a greater yeild in the long run: stocks or and IRA?
A: Katrina Stocks and IRA are quite different - Stocks are equities which may appreciate or may pay ...
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| Investing equity | 7/18/2006 |
Q: I met with a financial planner to plan for retirement/college expenses for children. I am 35 and ...
A: Frank There is neither good or bad results - just be aware of long term consequences. With ...
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| safer retirement via stock liquidation | 7/17/2006 |
Q: My elderly mother has a large block of GE stock that I think she should liquidate, due to her need ...
A: Kirk There is no good or bad answer. All I can give is some thoughts to ponder. First of all, if ...
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| How to terminate a individual 401(k) account | 7/14/2006 |
Q: A few years ago I became self-employeed and when I did so I transfered money from the 401(k) plan I ...
A: Dan Just call Oppenheimer and ask for QRP Distribution Form (QRP stands for Qualified Retirement ...
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| variable life insurance vs. variable annuity | 7/13/2006 |
Q: I am trying to decide if it is better to put my money into a variable annuity or a variable life ...
A: Mike As regards variable annuities versus variable life insurance: Both give you tax deferred ...
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| retirement plans and 401k | 7/12/2006 |
Q: I AM TRYING TO FIND ALL THE OLD RETIREMENT PLANS MY HUSBAND HAS HAD ON PAST JOBS AND HOW TO FIND ...
A: Tabitha Your husband should have received annual statement from former employer's retirement plan ...
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| Choosing a Financial Planner | 7/7/2006 |
Q: I totally agree with you that trust is a totally necessary when choosing a financial advisor. So ...
A: Becky again That is a tough one, smile! The simple way is to check their Credentials - checking if ...
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| rolling over annuity | 7/6/2006 |
Q: my father, an easily aggravated person, is a non- retired carpenter of many years he will be 60 ...
A: April As long as a person is not retired or has not left the union, the trustee (and/or custodian) ...
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| Choosing a Financial Planner | 7/5/2006 |
Q: I am in the process of doing some financial planning. I recently completed a financial plan with ...
A: Becky again Actually, my point is that any financial planner shall offer and provide professional ...
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| self directed IRA | 7/1/2006 |
Q: I will be 70 in a few months. Can I roll over my current 401k balance into a self-directed IRA? I ...
A: Laurel You cannot rollover your current 401K until you retire from the company. Your company will ...
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| How to best fund a home purchase downpayment | 6/29/2006 |
Q: Louis, I own a home, but due to a divorce, I have been in an apartment for the last year. We are ...
A: It depends on your age - if under 59 1/2, it may not be best to cash your 401K. If over 59 1/2, it ...
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| annuities | 6/28/2006 |
Q: This is poss. a premature question, but here goes. My deceased dad's wife has sold 2 of his ...
A: Halla Please accept my apology for the delayed response - was on the business trip. You are ...
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| withdrawing from an IRA | 6/28/2006 |
Q: My employer is starting a retirement plan for me. I have been here for 3 years. I have three ...
A: Christie Please accept my apology for the delayed response - I was on the business trip. With the ...
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| Simon Property Group Covnersion | 6/27/2006 |
Q: however, not sure if I totally understand the differences/ advantages/ disadvantages. It looks to me ...
A: The preferred stock is more like a bond with growth potentail - the dividend is always fixed. The ...
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| Simon Property Group Covnersion | 6/26/2006 |
Q: I have been offerred to convert each share of Simon Property Group Preferred Shares into 0.7853 ...
A: Kerry It is not the question whether to do it. It is the question whether you understand why you ...
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| Stock Registration for UGMA | 6/21/2006 |
Q: I have a 4 year old son and I have a DIS stock certificate in his name only. I have opened up a ...
A: Jessie The Uniform Gift to Minors Act (UGMA) or the Uniform Transfers to Minors Act (UTMA) provides ...
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| IRA Question | 6/18/2006 |
Q: I have $7,700 sitting in a self directed IRA with E-Trade. I stopped trying to pick stocks a while ...
A: You can buy mutual funds in E=Trade. However, if it is $50 for annual fee, then you may do better ...
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| Fee payment method for Financial Planners | 6/13/2006 |
Q: I just received an answer from you to another question I asked. You seemed very reasonable and ...
A: Becca again I prefer to be a fee-based planner because I believe this enable me to put more ...
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| Fiancial Planning Report | 6/12/2006 |
Q: I have just completed the first stage of working with a financial advisor. That means I have ...
A: Becca Sometimes I do make incorrect projections without knowing until I meet with my clients. ...
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| IRA and Divorce | 6/4/2006 |
Q: I have several questions relating to the settlement of a divorce and the splitting of IRA funds. ...
A: Larry According to the decree, she must fill out the application first to transfer 50% from his IRA ...
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| BONAFIDE ADVISORS? | 5/30/2006 |
Q: Someone contacted me and offered financial advisor services. He showed me a card indicating he is a ...
A: I am a ChFEBC too - it stands for Chartered Federal Employee Benefits Consultant - only benefiting ...
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| Loan | 5/29/2006 |
Q: I have approximately $190,000.00 in rollover IRAs. I would like to pay off education expenses ...
A: Jer Leave your IRAs alone until you need the retirement income. There is no way to borrow against ...
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| self directed ira | 5/25/2006 |
Q: I currently have a sep ira plan in several brokerage custodians. I am considering investing in real ...
A: Carl Any retirement account has to be under an individual's name, not a corporation or entity. ...
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| Savings bonds | 5/15/2006 |
Q: I have a question about savings bonds we have double e's there dates 1982. I was thinking about ...
A: Tony There is no such penalty for early withdrawal. All interests you get from US Bonds will be ...
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| Early 401k withdrawl | 5/6/2006 |
Q: My question is regarding an early withdrawl from my 401k plan... I have been told by many, that this ...
A: Melissa I understand what you talked about. Yes, 401k is yours and you can take it only when you ...
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| Real Estate | 5/3/2006 |
Q: Sure. Purchase price for the property: $480K total expenses: $185K cost basis: ...
A: Ken I suppose you have not lived in the house for two years yet. IF that is true, it would make ...
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| rollover investments | 4/15/2006 |
Q: I'm a 27 year old single female. After changing jobs I took my money out of my previous employer's ...
A: It is hard to recommend which mutual fund without knowing you and your risk tolerances/goals. The ...
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| CFP Career | 4/5/2006 |
Q: my Dad is a CPA with a new firm. I am starting now to take series 6&63 and hope to in a couple of ...
A: I may be biased - however I feel strongly that you should take Series 7 and 66 if you want to become ...
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| Life Insurance | 3/6/2006 |
Q: My husband just want to buy life insurance, he is 37 years old. He said since I am disabled and ...
A: Kate Your sweet husband is correct - you do need his insurance to support you and your baby!!! ...
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| Financial Planning - Career | 3/5/2006 |
Q: I have an MBA and 10 years corporate Finance experience. I'm interesting in Financial Planning as a ...
A: Mike I wish I can help you - I started my career 23 years ago and it is hard for me to respond to ...
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| Management Fees | 2/28/2006 |
Q: Many brokerage firms offer managed investment accounts. The cost to operate or to manage one of ...
A: Miss Anonymous It depends on what each advisor offers. Mine is 2% because I include unlimited ...
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| IRA Rollover | 2/26/2006 |
Q: My employer recently switched 401(k) companies. Our old company (National Auto Dealers Association ...
A: Becky First thing to avoid any tax consequences, please rollover or deposit to your current ...
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| Roth IRA | 2/21/2006 |
Q: in advance, for your reply. Due to tax considerations and advanced age, I will be placing about ...
A: Patrick There is no such secure investment, including bank CD because CD is not good for the long ...
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| Where to put my money? | 2/18/2006 |
Q: I am a 15 year old making about 500$ a month. I have never really handled this ammount of money so I ...
A: Paul... That is good - however, what is your goals? What do you need with the money for? College ...
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| finding a financial advisor | 2/17/2006 |
Q: I need some financial advice and am overwhelmed at looking through the yellow pages to try to find ...
A: Andrea Very true to find the neutral advisor. Best way is to find are: ...
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| Too much money in 401K? | 2/3/2006 |
Q: I am 52 yrs old and I am on track to retire at 56 1/2. I have determined that my nest egg at that ...
A: Michael You do bring a good question to yourself - you have to calculate the pros and cons of ...
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| using home as equity | 1/29/2006 |
Q: I am 62 and about to retire. I will then own my house(no mortgage). Is it possible at some point ...
A: Sue There is no such word "safe" in my dictionary because anything usually has own kind of risk. ...
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| Insurance annuity to IRA rollover ? | 1/28/2006 |
Q: My in-laws purchased a "Flexible Premium Annuity" for my wife when she was 17. It is currently ...
A: If FPA is caterogized as an IRA or qualified retirement plan, it can be rollover to any IRA. If ...
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| Roth IRA Trustee Transfer | 1/17/2006 |
Q: Back in '97 I did a 401k rollover to a NYLife Roth IRA variable annuity without much thought. After ...
A: Jay Yes, I would go ahead to open the ROTH IRA with $4000 for the year 2005 and wait till April ...
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| 401k deductions affecting AGI | 1/12/2006 |
Q: A two part question really: are 401k payroll deductions included in the modified AGI calculated for ...
A: Loki Yes, your w-2 already showed the reduced taxable income so you do not have to show it on your ...
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| Retired & Roth | 1/9/2006 |
Q: please clarify. That link didn't mention anything about social security income. This income is ...
A: Tim again Sorry, your social security is not taxable compensation - compensation means you have to ...
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| Can I do this | 12/30/2005 |
Q: I have a SEP and was wondering if I can transfer money out of a non-qualified account into the SEP. ...
A: Jim again Yes, since you already have the SEP IRA account, you do have time to pay up to April 15th ...
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| 401k Qualified Survivor Annuity Waiver | 12/29/2005 |
Q: Our company is setting up 401K plans and I read that apon my death my benificiary will recieve a ...
A: Linda If you die before annuitizing your 401K, your beneficiary can choose any option. Once you ...
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| roth 401k | 12/28/2005 |
Q: my company is planning to offer a roth 401k plan starting jan. 06. they plan on matching up to 6% ...
A: Dan Employer matches will still be made with pretax dollars, and the match will accumulate in a ...
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| IRA dilemma | 12/3/2005 |
Q: Schwarz, Thank you very much for such a prompt reply! My 1040 income is quite low (about $30,000) ...
A: You are correct that anyone will give different advice. However, a good financial advisor will ...
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| IRA dilemma | 12/2/2005 |
Q: Schwarz, My net worth, excluding my IRA's, is about 1.3 million dollars (zero taxes owed) and I have ...
A: Roth IRA is one of the best retirement plans - there will never be any surtax. If so, it will apply ...
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| 401K Rollover | 11/26/2005 |
Q: Louis- I have recently changed jobs and am planning to roll-over my 401K either into a traditional ...
A: Ed Will you be willing to pay for two annual fees for 401K and IRA, regardless of feeling better to ...
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| Capital Asset Model | 11/16/2005 |
Q: I have one more question I can't seem to figure out. What is the importance of the Capital Asset ...
A: Matt Sorry for the delay. Had been looking for sources - there are plenty of sources via Google ...
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| Capital Asset Model | 11/16/2005 |
Q: What is the importance of the Capital Asset Model?
A: Matt It depends on how each financial professional to model the concept. The bottom line is that ...
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| investing | 11/9/2005 |
Q: In your opinion which is more important to do the 401k or the Roth ira.My thinking is the roth will ...
A: Robert Actually it is based on your whole financial picture, including future retirement ...
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| investing | 11/8/2005 |
Q: i am 53 and intend to work until 60 or 62. recently the company i work for quit matching on our 401k ...
A: Robert Roth IRA is an excellent retirement plan. However, you should continue contributing ...
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| Open annuity | 11/2/2005 |
Q: OK- can you suggest a specific Northern California Financial Organizatiion that I might contact to ...
A: The best sources are: Lawyer (ask for Estate Planning Specialist) College or University (ask for ...
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| Annuities | 10/18/2005 |
Q: I am a 64 year old male who is not contemplating retirement. I would like to slow down however. I ...
A: Jim To make it simple, suppose if it is $1,000 a month, then amount per year will be $12,000. ...
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| Financial | 10/9/2005 |
Q: I converted my Regular IRA to a Roth IRA when I was 71 years old. When can I withdraw funds from my ...
A: Elaine... This article may be of interest to you: ...
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| As part of good financial... | 9/29/2005 |
Q: As part of good financial habits do you think having a prepaid legal service provided by Prepaid ...
A: Al This MLM (Multi-Level Marketing) concept is neither good or bad. Only the difference will be ...
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| retirement | 9/20/2005 |
Q: I have a 70000 dollar cd maturing in several months and am looking for a better and still somewhat ...
A: Carl Without knowing fully about your knowledge of savings/investment, financial health, ...
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| Roth IRA for others | 9/2/2005 |
Q: How about just administering it. Can it be set up so that someone other than the account holder be ...
A: Phil, All retirement plans require the account owner to be one who opens, make contributions, ...
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| What would 1.5 million be worth after 22 years? | 8/30/2005 |
Q: My grand father left me and my siblings 1.5 million dollars (in trust) 22 years ago. I am curious to ...
A: Colin... You each sibling should receive the trustee report from the trustor at least quarterly or ...
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| rollovers | 8/20/2005 |
Q: You were very helpful a few weeks ago and I trust your judgment. I told you there were 3 401ks ...
A: Yes everything has no free lunch. Glad you check carefully. I will not choose that advisor from ...
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| 401k/Company Stock Question | 8/9/2005 |
Q: My current employer matches a portion of my 401(k) contribution with company stock. I feel uneasy ...
A: Pete If your own contribution to other stocks or mutual funds in 401K, it may be good idea to get ...
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| Future of Stock Market with Baby Boomers retiring | 8/8/2005 |
Q: Cuurently I have about 60% of 401Ks in mutual Fund stock and 40% in bonds and money market as many ...
A: Joe I did read two books of Rich Man, Poor Man. Be advised that it is a theory - in which I will ...
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| Roth IRA Investing | 8/4/2005 |
Q: I'm 52 years old and only started a 401(k) a few years ago. I'm trying to figure out if a Roth IRA ...
A: Stay away from this inexperienced rep!!! Roth IRA is one of the best excellent vehicles for any ...
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| Registered vs. Book Form | 7/22/2005 |
Q: I know that some gov. bonds are issued in registered form and some are in book form. What's the ...
A: Steven.... It is a simple answer: Bearer bonds vs. Registered Bonds Bearer bond - Most ...
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| interest only mortgages | 7/21/2005 |
Q: i was recently at a seminar and the speaker spoke on using your equity in your house for investment ...
A: Dan The following website articles may be of interest to you: ...
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| Financial indecision | 7/5/2005 |
Q: Followup To Question - Hi Louis- I have 2 checking accounts. I have saved $8,000 in my first ...
A: ... YOu need to speak to your own investment advisor to be sure you are aware of those investment ...
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| Financial indecision | 7/4/2005 |
Q: I have 2 checking accounts. I have saved $8,000 in my first checking account. I have $15,000 of ...
A: Todd again It is still vague to me since I am aware of student loan policies. However, it is ...
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| Financial indecision | 6/28/2005 |
Q: I have 2 checking accounts. I have saved $8,000 in my first checking account. I have $15,000 of ...
A: Todd Are you sure you are free to use the unused loan amount for other than just school expenses? ...
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| 401k/IRA | 6/23/2005 |
Q: I've started investing in a 401k at work, pre-tax contributions. I don't trust the company and am ...
A: jeremy Actually if you contribute to 401K, you will be able to contribute more than what you can ...
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| Investing for a 22-year-old | 6/20/2005 |
Q: I am a 22-year-old journalist. I am graduating college after one more semester and have an ...
A: Jimmy Welcome to the excited world of investing! You should read several different resources ...
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| advice | 5/17/2005 |
Q: I want to get insurance but can u recomment some changes in what I presently have. I thank you. I am ...
A: Dee You do need a better financial planner - you each do need a cheap Annual Renewable Term Life ...
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| investing | 5/9/2005 |
Q: I have approx 23,000 in a regular IRA, and my husband and I have 35,000 in the savings to invest. ...
A: Donna Glad you asked that question. Normally many agents do suggest converting to an annuity ...
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| Roth IRA | 3/20/2005 |
Q: I am a retired 60 year old and living off munis and other non taxable income so my 2004 and 2005 tax ...
A: Joel It is very possible to do that - have to see numbers first. Also, you may have up to $7,950 ...
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| smartest financial move? | 3/15/2005 |
Q: I am a 37 yr old male at a financial crossroads. Since I am a late bloomer finanically and ...
A: Todd It is never too late to graduate. Smile. Really I cannot answer for you. You have to decide ...
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| Roth IRA-Reporting Contributions | 3/12/2005 |
Q: How are Roth IRA contributions reported to the IRS? There seems to be no line or form for this on ...
A: There are no forms to report a Roth contribution. The financial institution trustee of your Roth IRA ...
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| IRA | 3/9/2005 |
Q: Lou, Thanks for the info, Why a Roth over a traditional IRA? Also, is it better to have an IRA (Roth ...
A: RIch Roth IRA vs. Taxable Account One of the alternatives to a Roth IRA is a regular taxable ...
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| 401K | 3/9/2005 |
Q: My husbands work place is starting a 401K but most of the people are not going to use it saying that ...
A: Any 401K account is entirely the property of account owner, not the employer or company. The ...
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| 401K | 3/9/2005 |
Q: My husbands work place is starting a 401K but most of the people are not going to use it saying that ...
A: Kathy Anyone who does not contribute to any retirement plan is an idiot! Anyone who has any ...
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| IRA | 3/7/2005 |
Q: Lou, My accountant suggested I open an IRA for my wife. I have a few questions before I do. We ...
A: Rich I want you to understand that I do preach to my clients to maximize their retirement ...
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| 401K | 3/1/2005 |
Q: Our company changed ownership. We were told we cant touch the money in the old companies 401K even ...
A: Mr. Hill I am not the lawyer, however, generally, any employer, new or old, cannot tie your 401K ...
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| Estate/will/probate | 2/28/2005 |
Q: ..Thank you in advance for taking the time to answer my question. My Father recently recieved what ...
A: Tim Please be advised that I am not a lawyer - however I can answer your question - regardless of ...
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| 401k catch up | 2/25/2005 |
Q: I am trying to decide whether to make a "catch up contribution" to 401k or "fund" my Roth IRA this ...
A: Clay Both are excellent retirement plans. I usually encourage my clients to contribute maximum to ...
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| Investment Management | 2/12/2005 |
Q: Calculate the total return for a 9 percent bond purchased at Rs.860/- held one year and sold for ...
A: Wagar I will give you the simple calculation which is a bit less accurate than the complex ...
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| Minimum IRA Withdrawals | 2/8/2005 |
Q: What is the formula or schedule for making mandatory minimum withdrawals from an IRA at 70-1/2.
A: Jerry Easy calculation web page is: http://mutualfunds.about.com/cs/calculators/l/bl2003rmd.htm ...
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| IRA & Taxes | 2/2/2005 |
Q: I am self-employed and I usually contribute about $3,000 per year to my SEP IRA. Can I also ...
A: Marcia Yes, you can contribute to a ROTH IRA up to $3,000 for the year 2004 and up to $4,000 for ...
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| possible rollover | 2/1/2005 |
Q: I have a deferred compensation program (457) from when I was a city employee. I am now retired and ...
A: Stanley You have to check with the managing company - every retirement plan has own policy. See if ...
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| I need help | 1/31/2005 |
Q: Just to give you a run down graduated from college last year, 26, school loans are consolidated to ...
A: Kamilah Yes it is possible to start anything as long as you know what to do. It depends on your ...
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| Qualified Plans | 1/31/2005 |
Q: I have heard that one can borrow from some qualified plans for college expense. What are the rules? ...
A: Larry Not all qualified plans allow any loan. Each company has own policy and rules for employees ...
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| Pay off mortgage | 1/21/2005 |
Q: I live in California and i am thinking about selling my home and paying cash for home in another ...
A: Danny I simply can't help with that because ( am not a lawyer. You need to send the same question ...
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| Roth IRA and 401(k)s | 12/28/2004 |
Q: Followup To Question - Hello! I am self-employed and qualify for a 401(k)s, which I intend to ...
A: George again Sorry due to my typo. Yes and for your information, I do the same thing for myself! ...
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| Roth IRA and 401(k)s | 12/28/2004 |
Q: I am self-employed and qualify for a 401(k)s, which I intend to begin in 2005. May I also ...
A: George You can either contribute to Roth IRA or Traditional IRA, subject to income limitation. ...
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| Should I convert part of my IRA to a Roth | 12/22/2004 |
Q: I won't have very much in income this year and was thinking about converting part of my IRA to a ...
A: That will be a good idea to do the conversion when you do not have much taxable income. May I ...
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| A Small Winfall | 12/20/2004 |
Q: Schwarz, I've just settled with an insurance company over a debilitating disability for $125,000. I ...
A: Dana If it is primarily a steady income with protection, you may consider the fixed annuity, which ...
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| Thirft Savings Plan converstion to Mutual Funds | 12/9/2004 |
Q: Louis, I have had my federal retirement in the Thrift Savings Plan for over 15 years, but I retired ...
A: Walt I do same recommendations to my clients who want me to manage their retirement plans. For ...
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| capital gains | 12/8/2004 |
Q: I sold some land with significant capital gain. What can I include in my cost basis? We did pay ...
A: The cost basis only counts what you paid for your property including all improvements. You cannot ...
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| 401k | 12/4/2004 |
Q: in my 401k at work i have 25% in templeton emerging markets 25% in all pro-balanced fund which is a ...
A: Dan... Those allocations sound good for the long term goal - however, I do not know your risk ...
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| Annuity | 11/23/2004 |
Q: I have recently settled my future medical care case with my worker's comp Insurance company. They ...
A: .. Whatever is invested in an annuity, there may be a withdrawal or termination penalty or fees. ...
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| Investment | 11/20/2004 |
Q: I want sample investment profile, I want to invest in 3 mutual funds which are as follows Balanced ...
A: Bhulabhai The investment profile is based on the investor's age, goals, size of money, one lump sum ...
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| investing | 10/23/2004 |
Q: my mom is 83 years old. she has $4,000 in a savings account not drawing much interest. she does ...
A: Dan... To be honest, because of your mother's age, there may be no such a "non" long term ...
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| IRA, 401k | 10/12/2004 |
Q: I looked at the chart and it was helpful, but perhaps I should tell you my situation. I'm a US ...
A: BIll again... Your salary is considered as earned income. Since your first $80,000 is tax free, ...
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| IRA, 401k | 10/11/2004 |
Q: Don't think me stupid, just ignorant. What's the difference between an IRA, 401k and those other ...
A: Bill I am glad that you are learning about retirement plans. Actually all retirement plans are ...
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| Saving for College | 10/1/2004 |
Q: I have a 15-month-old daughter and have started saving for her education. I've put $3500 into a 529 ...
A: Ferris I do send the article about various plans for children to my clients as shown at bottom of ...
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| Credit Card Payments | 9/30/2004 |
Q: I live in Massachusetts, am unemployed and owe $40,000 on 4 credit cards plus a personal loan. I ...
A: Charles You can do yourself trying to negogiate with them or hire the service like below. Try ...
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| 401k & roth | 9/24/2004 |
Q: i have heard and read that you should max out your 401k. also have heard and read that you should ...
A: Dan There is no right answer to your question. It is my own personal opinion that I tell my ...
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| IRA WITHDRAWL | 9/6/2004 |
Q: This is my first year to take a mandatory withdrawl from my IRA. I know I can move stocks, mutual ...
A: Roy... Everyone will wish the same thing you want to do. Unfortunately, it is the present value ...
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| variable annuity | 9/4/2004 |
Q: i have approx. 32k in a variable annuity. would i be better off getting out of this and rolling the ...
A: Dan First, you have to be sure that your variable annuity is qualified to be rollover to 401k. If ...
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| 401k | 8/28/2004 |
Q: i am 52. i plan to retire at 66 unless my 401k and other investments do really well. also i have a ...
A: Since you have 14 years to go, stay with your allocations. Guaranteed option is best for older ...
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| 401k | 8/28/2004 |
Q: i dont know if this is the type of question you answer i have a 401k with my company i have 25% in ...
A: Dan How old are you? It depends on your age as well as what kind of risk tolerance will you be ...
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| Investment choices | 8/23/2004 |
Q: Mr. Shwarz I'm 19 years old. I manage a restuarant. Everything I own is paid for and I have ...
A: Keith again... Honestly, not good answers however you give me the idea. Maybe it is good idea, ...
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| Investment choices | 8/23/2004 |
Q: Mr. Shwarz I'm 19 years old. I manage a restuarant. Everything I own is paid for and I have ...
A: Keith... It is impossible to respond to your question because I need to know what are your ...
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| Saving for my baby. | 7/22/2004 |
Q: hope you can help me. I have a savings account for my son who is 7 1/2 months old. I want to ...
A: Debbie... There are so many choices to consider - may I suggest you to look at this url: ...
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| Annuities should I or not | 7/21/2004 |
Q: My financial planner with A.G. Edwards is recommending a fixed price annuity for me to invest in for ...
A: Danny Any annuity is the most misunderstood product unless you know what is the annuity. Choosing ...
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| Mutual Funds | 7/3/2004 |
Q: I've been faithfully putting $50.00 a month in a rather agressive taxable mutual fund in the Strong ...
A: Cheri Glad that you did not confuse me. 1. Divide the cost basis plus reinvested distributions by ...
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| saving for college | 5/24/2004 |
Q: Yes, her college, if she goes out of state, could be $160K for 4 years. If she stays in state about ...
A: BM again... Yes, we cannot foresee in a few years. I would say, depending on your daugher's choice ...
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| saving for college | 5/24/2004 |
Q: My partner and I have around $40,000 saved for our daughter's college fund which begins in September ...
A: BM Please correct me if I did not answer correctly - I assume that your daughter is going to attend ...
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| Annuities | 5/24/2004 |
Q: I am trying to find the best and cheapest way to do this in regards to being taxed. I have $25,000 ...
A: Marie... Generally you do not have to liquidate the whole annuity. Maybe it is the insurer's ...
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| taxation | 4/12/2004 |
Q: what is the importance of taxation in developing financial planning?
A: Gech... The basic answer would be that if you are able to save $10,000 in taxes per year and for ...
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| Just must ask again..... | 4/2/2004 |
Q: Louis S - Well, first time I asked, didn't get receipt confirmation. Must have messed up my email ...
A: Joan... I did respond that you check this url: http://www.seniorlifeusa.com/annuity.htm first ...
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| Annunities | 3/17/2004 |
Q: Schwarz: Thank you for all your advice. This will be my last e-mail. You have helped me frame my ...
A: .. I am glad that you think about it very carefully. You are correct what you said about sparing ...
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| Annunities | 3/16/2004 |
Q: --Thank you for your information. I should have made clear that the annuities would be in my ...
A: George again... Even if it is transferred to your daugher's annuity, it is not only 10% early ...
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| Annunities | 3/16/2004 |
Q: It's been suggested to me that I transfer my daughter's UGMA to retirement annunities to aid her in ...
A: George... Unfortunately, you cannot use any UGMA account to fund outside accounts (regular, ...
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| Stretch IRA | 3/10/2004 |
Q: In purchasing a stretch IRA does this cause the immediate buyer less money now in order to have ...
A: .. Simple answer is that if you do not need all of your IRA money while enjoying your retirement ...
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| Credit card debt | 2/26/2004 |
Q: I am exploring a home equity loan in order to payoff some high interest cc debt. My question for ...
A: Harrison First of all, it takes at least two months (sixty days, depending on each account's ...
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| Tax Deductions | 2/12/2004 |
Q: -------------------------First of all, Thanks for the quick response. I had thought about ...
A: again... You may increase contributions to your 401K if you can afford - and the maximum for the ...
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| Tax Deductions | 2/11/2004 |
Q: My wife and I both work and currently we will have to pay additional taxes this year. We both claim ...
A: John... Based on information you provided, without details on state taxes, property taxes, mortgage ...
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| financial planners | 2/7/2004 |
Q: I was wondering what exactly do financial planners do? What kind of background or education is ...
A: Danielle Sorry for the delayed response. Anyway, no financial planner is alike! TO be honest, if ...
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| fico | 1/23/2004 |
Q: Short question, someone told me that everytime you have your credit report run, it lowers your FICO ...
A: Tim... Nope, Certain types of inquiries (requests for your credit report). The score does not ...
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| Buying a home in a trust | 1/23/2004 |
Q: This may not be your line of expertise, but I will ask anyways...Is it possible to buy a home in ...
A: Kelly California has different laws as well as other 49 states. The best advice you should obtain ...
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| Thrift Savings Plan | 1/21/2004 |
Q: Schwarz, My husband and I wanted to ask a financial question, so we looked over your biographical ...
A: Miriam... Good to know that you were from Wash DC years ago. The first page of TSP-60 mentions the ...
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| Investments | 1/17/2004 |
Q: Schwarz, One person has told me that investing in real estate is better than investing in the ...
A: Mike... Every investment has own risks and different returns depending on the time of many coming ...
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