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Personal Investment & Financial Planning Q`s/Questions Answered by Expert John D Smith, CFP
| Subject | Date Asked |
| IRA | 2/9/2012 |
| Q: I just lost my job and converted my 401k into an IRA. I had about 300k in my account. Is it safe to ... A: Although an IRA that is invested in mutual funds, stocks, bonds, etc, is not federally insured, you ... | |
| Should I sell my rental property? | 12/17/2011 |
| Q: I have a rental property located in Northern Virginia. This property was converted into a rental ... A: Unfortunately this is a difficult question to answer since your specific situation and the specifics ... | |
| Managing Mother-In-Laws Finances | 12/9/2011 |
| Q: My mother-in-law is 88 years old. We are moving her into a small apartment and have sold her home ... A: If you want it free of risk then your options are limited in that federally insured deposits (CDs, ... | |
| Mortgage or 403b? | 11/15/2011 |
| Q: I am 50 and hope to retire in the next 5-7 years with a pension. My 403b presently is invested 50% ... A: I understand your concern. If it helps, in my opinion, there really isn't a right or wrong with ... | |
| Mortgage or 403b? | 11/12/2011 |
| Q: I am 50 and hope to retire in the next 5-7 years with a pension. My 403b presently is invested 50% ... A: Your question is a good one and at the same time a difficult one to answer specifically in a forum ... | |
| paycheck allocation | 10/14/2011 |
| Q: What is a general rule of thumb for allocating salary? for upper-middle class, retiring in 10 ... A: A general rule of thumb is to save between 10 and 20% of you income each year in order to retire ... | |
| prudential premier retirement VA highest daily value %% rollup | 8/16/2011 |
| Q: What are the pitfalls of above VA x,B,L or C series. I do not want to pay for beneficiary clause, i ... A: I apologize but it's hard for me to take time to thoroughly review prospectuses of investment ... | |
| prudential premier retirement VA | 8/13/2011 |
| Q: What are the pitfalls of above VA x,B,L or C series. I do not want to pay for beneficiary clause, i ... A: I am not familiar with this specific annuity, however, it is important to undestand the pros and ... | |
| student loan eligibility | 6/16/2011 |
| Q: My daughter is attending college as a freshman. I will have to find a way to pay for some of the ... A: Your question is good one and unfortunately it's also a hard one to answer with any degree of ... | |
| tax free municipal bonds | 6/13/2011 |
| Q: my husband and I have been investing in tax free municipal bonds since 97. We are at the point now, ... A: I wouldn't say you are "crazy" for thinking you would have lost alot of money had you been invested ... | |
| tax free municipal bonds | 6/12/2011 |
| Q: my husband and I have been investing in tax free municipal bonds since 97. We are at the point now, ... A: The answer to your question is a difficult one since how a person invests is dependent on their ... | |
| 401K or 457 | 5/22/2011 |
| Q: Husband retiring and will get paid for vacation days, etc. He is trying to choose between putting ... A: There are more similaties that differences between 401k and 457 plans so the decision as to which ... | |
| Cost of Living | 5/4/2011 |
| Q: Can you tell me what cost of living means? What are the factors for the differences in cost of ... A: The cost of living, in general, means to cost of the goods and services you need to live. The ... | |
| creating mthy income | 4/23/2011 |
| Q: i am looking for advice, suggestions and ideas, on what and where to invest $200k, that would create ... A: In my opinion, a monthly income of 2k/mo from a $200,000 investment is not realistic. This is a 12% ... | |
| inflation | 3/29/2011 |
| Q: Should inflation become a serious problem, or even devaluation of the dollar, what is the least ... A: Your questions and concerns are all legitimate, however, the right answer and solutions to these ... | |
| inflation | 3/29/2011 |
| Q: Should inflation become a serious problem, or even devaluation of the dollar, what is the least ... A: Although your question is a good one, the issue of inflation and whether to rent or own a home with ... | |
| Bonds - Reregistering, Reissuing? | 3/10/2011 |
| Q: Greetings John, My step mother wants to give me her series ee savings bonds (80) worth $8,000. ... A: Since you have the certificates, the easiest thing to do will be to go to your bank and ask if they ... | |
| planing | 3/9/2011 |
| Q: I am a 29 years old female and I started working 3 years ago after after being in college for 7 ... A: Congrats on paying down your debt and having the discipline to save! As I sometimes describe it to ... | |
| IRA Investment Losses | 2/25/2011 |
| Q: I have a situation where monies from an IRA were placed directly into a company, as an investment. ... A: Typically, losses in an IRA cannot be deducted. However, there are certain circumstances when ... | |
| mortgage | 2/23/2011 |
| Q: I bought my house for 440.000 $ with 70.000 down payment. I pay 2390 $a month. my income is more ... A: Since the loan is only 2 years old, the decision comes down to whether or not you feel you can earn ... | |
| Financial Troubles | 2/22/2011 |
| Q: I am 50 years old and own a restaurant and 2 homes.Both homes are secured by the restaurant. Both ... A: A competent financial planner can sit down with you and fully understand your financial situation ... | |
| Annuities | 1/21/2011 |
| Q: Are there any annuities that are not costly, that are good investments, and that allow for early ... A: Equity indexed annuities a complicated products and in many instances, once the investor understands ... | |
| Annuities | 1/20/2011 |
| Q: Are there any annuities that are not costly, that are good investments, and that allow for early ... A: There are "no-load" annuities available that do not impose surrender fees for early withdrawals. ... | |
| Coverdell Contribution for 2010 | 12/9/2010 |
| Q: I understand that if Congress does not act that Coverdell contribution limits will fall back to $500 ... A: I apologize for the delayed response. My understanding is that if the Coverdell amounts do not get ... | |
| security dates | 11/23/2010 |
| Q: Could you clarify "date of record" and "ex-dividend" date, in relation to purchase date and ... A: The date of record and the ex-dividend date are the same. The date of record is set by the company ... | |
| Wash Rule Considerations | 11/21/2010 |
| Q: Mr Smith I am confused about "settlement date" and the "wash rule." Suppose I purchased a stock ... A: In order to avoid the wash sale rule, which prevents you from being able to deduct a loss associated ... | |
| Future Medicare Surcharge | 11/20/2010 |
| Q: Mr Smith In a recent investment newsletter, I first heard of a Medicare surcharge on net investment ... A: Satrting in 2013, for married persons filing jointly that have adjusted gross income in excess of ... | |
| paying off mortgage | 11/7/2010 |
| Q: We owe about $40,000 on our mortgage, and have enough in savings to be comfortable. Our monthly ... A: In my opinon, the decision to pay down a mortgage vs keep $$ in lquid reserves or investments goes ... | |
| Financial/ Retirement Planning | 10/17/2010 |
| Q: My wife and I have been approached by some gentlemen with Primerica, and they state that they help ... A: Primerica is a legitimate company, however, as with any company you do business with, the quality ... | |
| COMPANY PLAN | 9/17/2010 |
| Q: John Hi, I have 401 company plans with two companies, one company that I previous worked for and ... A: In regards to the company you used to work for you can roll this balance into an IRA rollover ... | |
| Best way to pay off my unsubsidized stafford loans | 9/15/2010 |
| Q: I currently borrowed $6500 Unsubsidized Loans from Fall 2009/Spring 2010. I have also accepted ... A: I apologize but this question is too complicated to answer in a forum such as this since the factors ... | |
| Best way to pay off my unsubsidized stafford loans | 9/14/2010 |
| Q: I currently borrowed $6500 Unsubsidized Loans from Fall 2009/Spring 2010. I have also accepted ... A: If I understand your question, you are wondering what options exist for you to earn more on the ... | |
| REITs | 9/10/2010 |
| Q: Do you think REITs are an excellent way to invest in real estate in the present economic market? IF ... A: For most people, REITs are an effecient way to invest in real estate, although it is important to ... | |
| Investing | 9/6/2010 |
| Q: I am retired and worried about the economy. I have several CD's paying next to nothing and no gold ... A: In my opinion, how you should be invested is based on your specific goals and risk tolerance, which ... | |
| Payoff decisions | 8/23/2010 |
| Q: I don't know if this is something you can help me with, my husband and I are very bad at math and ... A: In order to answer this question I need to know the amortization schedule of the loan; the length of ... | |
| Planning for CFP | 8/5/2010 |
| Q: Currently living in California and on track to receive a Bachelors in Mathematics from CSU Fresno ... A: The College for Financial Planning is the premier program provider to prepare people for the CFP ... | |
| Fee for CFP | 7/31/2010 |
| Q: I am going to visit a CFP for the first time. If I give him my business, what percent can I expect ... A: I hope the meeting goes well. The amount of fees you should expect to pay varies, depending on ... | |
| What Next? | 7/17/2010 |
| Q: So here I am...a 57 year old single white male, never married, no kids, with no debt and a boatload ... A: In regards to your question, the answer depends on your specific goals and risk tolerance as it ... | |
| new start | 6/24/2010 |
| Q: i had just got a new job in the investment field as an assistant - although my major is IT - i just ... A: Hi Sara. I just realized that you are from Saudi Arabia. Is the job you started in Saudi Arabia or ... | |
| Retirement Planning - Bond Funds | 6/20/2010 |
| Q: Smith- Over the past 5 years I've helped my father slowly shift his $200K portfolio from mostly ... A: Generally speaking, a bonds (or bond funds) duration is going to determine how much the underlying ... | |
| college tuition | 6/17/2010 |
| Q: I need money to cover my daughter's college tuition in the fall. I have an inactive retirement ... A: How you pay for college and whether or not you should liquidate your old retirement account is based ... | |
| Retirement | 6/15/2010 |
| Q: I'm 59 and1/2 years old and going to retire in 7 weeks. Combine pens. & 401 totals above ... A: Unfortunately, in a forum such as this, it is difficult to offer specific advice in regards to an ... | |
| new start | 6/9/2010 |
| Q: i had just got a new job in the investment field as an assistant - although my major is IT - i just ... A: To better clarify, is your job based in the United States or in Saudi Arabia? If in the US please ... | |
| muni bonds (insured) | 6/2/2010 |
| Q: Smith, Last February (2010), First Investors notified me of a change to my Multi-state Tax Exempt ... A: Although there has been alot of talk about the uncertainty in munipalities, historically speaking, ... | |
| Profit-Sharing | 6/1/2010 |
| Q: John, I am 53 yrs old. I will soon rcv approx $100,000 profit-sharing from my former employer. I'll ... A: For low costs and flexibility, I would recommend a firm such as TD Ameritrade or Charles Schwab ... | |
| getting info | 5/25/2010 |
| Q: I was told by my teacher that I should put my money into something that garners intrest (100,000 at ... A: I believe your teacher may have meant investing in something that pays interest at 4% per year, not ... | |
| Adoption Fund Q | 5/14/2010 |
| Q: I am raising money for an international adoption. About a third of the money will go to the ... A: Since the $$ in the account will be used for you personally, you cannot set up a foundation or ... | |
| Investment Accounts & Compound Interest | 5/12/2010 |
| Q: Does money invested in all non-bank investment accounts, for example, brokerage accounts and mutual ... A: Compund interest occurs when earnings stay invested in the account and the additional earnings on ... | |
| EE (Education) Savings Bonds | 5/7/2010 |
| Q: Will any U.S. Treasury Savings Bonds, in particular the EE series, remain viable should the U.S. ... A: Since EE bonds are government issued and therefore backed by the government, the only way they would ... | |
| Hidden Fees | 5/2/2010 |
| Q: I recently became aware of fees that are charged to people who have 401 (k) plans from their places ... A: Assesing fees that are truly hidden and not properly disclosed is forbidden, however, what I believe ... | |
| inherited mutual funds and | 4/23/2010 |
| Q: My mother died and left everything to me and my sister. This includes EE Savings Bonds, Mutual ... A: When your mother died, you received a step up in cost basis for any of the investment held in ... | |
| personal financing | 4/7/2010 |
| Q: I Hi,I am embarking on doing some remodeling, room addition etc. with an extimated 40-50K price tag. ... A: Yes, I agree that a fixed home equity loan at 7.9% is high seeing as how you have cash on hand for ... | |
| personal financing | 4/6/2010 |
| Q: I Hi,I am embarking on doing some remodeling, room addition etc. with an extimated 40-50K price tag. ... A: Your friend is correct in that getting a Heloc can be a cheap source of borrowing right now and you ... | |
| tuition pay off | 4/4/2010 |
| Q: John,I'm 61 yrs old and hope to retire in a year and a half, I have 400,000 in my 401k and will get ... A: Since you are over age 59 1/2, you can take $$ out of the 401k without paying a penalty, however, it ... | |
| index fund strategy | 4/2/2010 |
| Q: Ive read about index fund allocation. John Bogle recommends a simple strategy of buying the VTSMX ... A: In response to your follow up question, if you invested in VTSMX and didn't tinker with it them I ... | |
| index fund strategy | 3/30/2010 |
| Q: Ive read about index fund allocation. John Bogle recommends a simple strategy of buying the VTSMX ... A: Your questions is a good one. Although VTSMX is a good core holding, I too feel having other asset ... | |
| Safe Investing for retirement income | 3/12/2010 |
| Q: My wife and i are looking to retire and i am looking for a safe way to invest my money. I should ... A: Congrats on the retirement! Although your question is a good one, it is difficult to answer with any ... | |
| can buy ira after age 59? | 3/7/2010 |
| Q: My mother is 86 years old and has listed on her assets a couple if IRA CD's. She had to have been ... A: To answer your question, yes, a person can open an IRA and contribute to them after age 59 1/2 as ... | |
| personal finance | 3/7/2010 |
| Q: I'd like to know whether I should pay down my mortgage with some money that I recently received. I ... A: There is no one answer that is right for everyone in this regard as it depends on each persons ... | |
| Investing a Potential Inheritance | 3/5/2010 |
| Q: Smith, I am a 55 year old male and may receive an inheritance of anywhere from one to three hundred ... A: Whenever someone asks what the "best" investment is for their situation it is a difficult question ... | |
| SIMPLE IRA | 3/4/2010 |
| Q: I just realized that I did not make the employee contribution for 2008. Is there anyway that I can ... A: The cutoff for contributing to the Simple IRA coincides with your tax filing deadline. Since you are ... | |
| Job description. | 3/3/2010 |
| Q: Could you please give me a job description for treasurer of an organization?Thanks! A: A treasurers exact duties can vary, however, treasurers are typcially involved with various aspects ... | |
| Joint Account | 3/2/2010 |
| Q: Can I open a joint account with me Richard and my daughter Lauren (age 15) with my SSN? Thanks! A: Yes, you can do this. You have a couple of different options in regards to the type of account you ... | |
| rental house vs muni bonds | 3/1/2010 |
| Q: We bought home in 1993 and recently moved out to bigger home nearby. We now rent the old home for ... A: Although your question is a good one, it is more detailed than a forum such as this can properly ... | |
| Debt decision making | 2/26/2010 |
| Q: Hope you had a great vacation! Background: I have about $19,000 in debt (credit cards, student ... A: The biggest problem I see with taking $$ out of 401k's to pay off debt is you have now wiped out an ... | |
| Investment Accounts | 2/17/2010 |
| Q: Is it a good idea to have a managed brokerage account in which the fee is approximately 2.0 - 2.5%? ... A: Generally speaking, I am not a fan of wrap account becuase I think the 2-2.5% is a big expense ... | |
| TSP Withdrawal to Refi | 2/15/2010 |
| Q: I'm recently separated, keeping the house, and want to refi in order to release my wife from the ... A: There are certain hardship cases where the penalty is waived however the withdrawal will be ... | |
| Retirement IRA / Bonds | 2/4/2010 |
| Q: Hi John, I took an early retirement incentive. After the stock market melt-down I'm sitting with ... A: Your question is a good one and I will start my answer by saying each person's unique situation ... | |
| Minors as insurance beneficiaries | 2/4/2010 |
| Q: I live in Florida and am married with 2 children. I have a $250k life insurance policy. My wife is ... A: Florida is a state that acknowledges UTMA and the applicable age is 21. What this means is if the ... | |
| Future Investment for a poor 22 year old | 2/1/2010 |
| Q: I was hoping you could help me. I am a 22 year old college graduate. I have a large amount of debt ... A: It is difficult to answer your question with any degree of detail since the right way to invest and ... | |
| Debt management | 1/19/2010 |
| Q: My wife and I currently have one credit card with high debt($8,500). However, I have the ability to ... A: from a financial perspective you can certainly build the case for paying it off since you will be ... | |
| Precious Metals IRA | 1/12/2010 |
| Q: What are the advantages sand disadvantages of precious metals IRA's? ANSWER: Hi. Unfortunately your ... A: For tax purposes, typically the types of investments that should go into an IRA should be high ... | |
| S&P 500 or Berkshire Hathaway | 1/11/2010 |
| Q: For a long term investment, at least five years, is it better to invest in the S&P 500 mutual fund ... A: Since past history does not guarantee future results it is difficult to know which will outperform ... | |
| non-qualified annunity -inherited | 1/11/2010 |
| Q: My aunt died leaving me a non-qualified annuity with a value of 210,000,Her deceased husband bought ... A: Your options depends on the annuity company and the payment option they offer. Since it is a ... | |
| 529 Plans changing beneficiaries from self | 1/11/2010 |
| Q: I opened a 529 account naming myself as a beneficiary many years ago. In other words, I am the ... A: To answer your question about gifting, yes, if you gift $13k per year then there are no reportable ... | |
| Precious Metals IRA | 1/10/2010 |
| Q: What are the advantages sand disadvantages of precious metals IRA's? A: Unfortunately your question is to general in nature to answer in a forum such as this since there ... | |
| Choosing an advisor | 1/7/2010 |
| Q: I'm a married 31-year old, and my husband and I each have savings we've been building for the past ... A: For needs such as this, I would recommend 2 sources: one is Napfa www.napfa.org. You can do to this ... | |
| UTMA | 12/10/2009 |
| Q: I have in my possession a few shares of Disney that I am custodian and my son owns under UTMA. Nate ... A: Actually, the shares themselves need to be re-titled. This can be done directly through investors ... | |
| Question about husband's IRA | 12/8/2009 |
| Q: My husband is 71 and has an IRA at UBS. His financial advisor recently left UBS to join BAM ... A: Your concerns are valid in my opinion, however, the service you ultimately get is going to depend on ... | |
| 401 k into 457 | 12/7/2009 |
| Q: Can I roll my 401k account into a 457 account so I can withdraw my money sooner. ANSWER: No. Since ... A: In response to your follow up, there are certain rules that apply whereas if you are separated from ... | |
| 401 k into 457 | 12/6/2009 |
| Q: Can I roll my 401k account into a 457 account so I can withdraw my money sooner. ANSWER: No. Since ... A: To better clarify, are you retired or separated or are separating from service? In your prior email, ... | |
| 401 k into 457 | 12/4/2009 |
| Q: Can I roll my 401k account into a 457 account so I can withdraw my money sooner. A: No. Since a 457 is sponsored by non for profit and govt entities and 401k are not, you cannot roll a ... | |
| Use HELOC of pull from IRA | 12/3/2009 |
| Q: I am planning a $50,000 home improvement project. Facts: Total Net Worth...$2,000,000 Married and ... A: The financial answer to your question is you should use whichever form of funds will be the cheapest ... | |
| Cashing EE bonds in my deceased husband's name only | 11/28/2009 |
| Q: What do I need to cash bonds made out to my deceased husband only. I was the Executrix of the ... A: Since there will be additional paperwork to provide, instead of working directly with the US ... | |
| Retirement Planning/Investment | 11/27/2009 |
| Q: My wife and I are trying to make some smart financial decisions concerning our upcoming retirement. ... A: Although the above information is fairly detailed, it is difficult for me to comment on any specific ... | |
| 403b withdrawal | 11/27/2009 |
| Q: I have just been informed that my employer will be laying my department off at the end of the year ... A: In most instances, if you pull $$ out of a retirement plan prior to age 59 1/2 it will be subject to ... | |
| Former Employer Pension | 11/19/2009 |
| Q: My former employer, Big 4, is telling me that I cannot cash out my pension plan since leaving the ... A: It depends on what type of plan it is. If it is a 401k/Profit Sharing, then yes, you can cash it ... | |
| personal investment | 11/19/2009 |
| Q: Had a couple quick questions. I am an Orthopedic Surgery Resident right now. My wife and I ... A: The financial answer to your question is it depends on whether or not you feel you can invest the $$ ... | |
| 61 and Inheritance Investments | 11/19/2009 |
| Q: have a 90,000 mtg on a $250,000 place, no other bills, own our own cars. Have about $50,000 cash ... A: This is a difficult question to answer as there is no "best" place to invest that applies to ... | |
| IRA | 11/10/2009 |
| Q: I recently spoke to a representative of the company that my IRA is held with via my employer. I ... A: The person you spoke with is wrong. You can move $$ from an IRA at one institution to a same titled ... | |
| widow | 11/9/2009 |
| Q: As a new widow, I have life insurance proceeds to invest. I need some income and want to tie up ... A: It is important to realize an "IRA" is a type of retirement account as opposed to a type of ... | |
| widow | 11/9/2009 |
| Q: As a new widow, I have life insurance proceeds to invest. I need some income and want to tie up ... A: This is a difficult question to anser in a forum such as this since how you invest the $$ is ... | |
| IRA divorce rules | 10/29/2009 |
| Q: One of my best friends in the middle of a ugly divorce has an IRA that was supposed to be ... A: Each state has their own set of rules in figuring splits between divorced spouses and the final ... | |
| Retirement & Education planning | 10/25/2009 |
| Q: We are an Indian couple(33 and 30ys old)working n living in UAE.I will give u a background of our ... A: Since you live in India, these questions are outside of my area of expertise. In regards to a ... | |
| IRA | 10/22/2009 |
| Q: I just turned 59 1/2 and I have an IRA worth about $8000. I noticed recently that it is earning no ... A: Yes, you can roll the IRA into another IRA at a qualified financial institution. When doing so, as ... | |
| IRA | 10/19/2009 |
| Q: We have an flex index annuity that has made no $ for several years. We want to rollover the penalty ... A: More than likely, the reason you annuity hasn't performed well is because of how it is invested vs ... | |
| Hedges Against a Weakening Dollar | 10/19/2009 |
| Q: Can you recommend the best hedges against a possible severe weakening dollar/high inflation? I ... A: If you are looking strictly for a hedge against a weakening dollar, then you could purchase shares ... | |
| Retirement account | 10/10/2009 |
| Q: I am a small business owner myself and my wife are the owners and employees. One years ago I opened ... A: The indivdual, or solo 401k, is available only to business owners, their spouses and children. Once ... | |
| family trusts:Jersey | 10/8/2009 |
| Q: Can a father, living in France, mount successive family trusts in Jersey, when he lives in France? ... A: I apologize, but given the fact that your father is British, lives in France, and wants to set up ... | |
| regarding finance | 10/6/2009 |
| Q: i am a management student & finance intrigues me. i want to know how to obtain information / study ... A: There are many great books available that discuss these issues. However, the following are ... | |
| retirement planning | 10/6/2009 |
| Q: my question is this would a 401k or an ira be better to use for retirement my wife is a teacher in ... A: The general concept of 401k and IRA are the same in that the dollars inside of the account grow tax ... | |
| regarding finance | 10/6/2009 |
| Q: i am a management student & finance intrigues me. i want to know how to obtain information / study ... A: If you are interested in pursuing investments for personal interest, then there are a number of ... | |
| new home as an investment | 9/28/2009 |
| Q: Assumption: There will be double digit inflation in the next 5 years. Q: Should I pay for my new ... A: The answer to your question is dependent on several factors, some of which are financial and others ... | |
| paying credit line vs investing | 9/15/2009 |
| Q: I have the following dilemma. I am 46 years old and I make a good yearly income which varies a bit ... A: The correct answer to your question depends on how the investments perform between now and the time ... | |
| Inheritance - tax on investments | 9/11/2009 |
| Q: I, along with a few siblings, recently inherited some investments from my parents' estate. The ... A: There are 2 sets up taxes that you need to consider; 1 is the estate tax which is sounds like is not ... | |
| pay of loan or save money | 9/11/2009 |
| Q: I am 28 years old and am just now starting to have enough money saved that I need to consider what I ... A: Unfortunately there is no one answer to this question that is right for everyone since it is ... | |
| RMD on 401Ks | 9/9/2009 |
| Q: I'm within a year from retiring and I am totally in the dark about RMD. Perhaps you can suggest a ... A: Under normal RMD distributions, the amount withdrawn is based on a % of the prior year end account ... | |
| Keeping stock in street name | 9/3/2009 |
| Q: Where can I find information about the risk of keeping stocks with brokers, (i.e. in "street name") ... A: I would visit the SEC website as mentioned in my previous answer. If you don't find the information ... | |
| Keeping stock in street name | 9/3/2009 |
| Q: Where can I find information about the risk of keeping stocks with brokers, (i.e. in "street name") ... A: As long as you keep the stocks registered with an independent custodian and get accurate record ... | |
| 72(t) | 7/28/2009 |
| Q: I received a check from a mutual fund where my IRA used to be. This check was part of a settlement ... A: Based on my understanding of Rule 72t, since the amount you are required to withdraw is fixed and ... | |
| hello | 7/27/2009 |
| Q: I have made an output table of my income and list of expenses. I am trying to do the following, but ... A: I aplogize, if my response does not answer your question as I am not sure I completely understand ... | |
| Investments in Roth IRA | 7/18/2009 |
| Q: My question concerns asset location in a Roth IRA vs. a traditional IRA. Does it make sense to put ... A: You bring up an important concept as asset location is something me and my firm spend a lot of time ... | |
| Pay off the mortgage or invest. | 7/18/2009 |
| Q: I owe 70,000 (value 200,000 home) with 8 years remaining on a 15 year mortgage with a 5.5 % interest ... A: Your question is a good one, although there is no right answer that applies to everyone. From a ... | |
| questions about the future of the global economic crisis | 7/17/2009 |
| Q: I reside in the US and I'm seriously considering relocating to another country for different job ... A: Your question is a good one and at the same time a complicated one. For me personally, I do not feel ... | |
| Thrift Savings Plan Conversion to IRA/Roth | 7/16/2009 |
| Q: I read your answer to the Roth IRA rules on another question. I'm thinking of converting my Thrift ... A: Please see below for the answer to yourTaxation and Penalties for Roth IRA Distributions Qualified ... | |
| Simple IRA - Rollover | 7/15/2009 |
| Q: Can a participant in a Simple IRA held in the US rollover those assets to a Canadian Retirement Plan ... A: Since my area of expertise is in the US, I am not in a position to answer this question. Although ... | |
| Personal Investment & Financial Planning Q`s | 7/15/2009 |
| Q: doctor.I'm a bussiness and idustrial student and I'like to ask you about what is your advise for ... A: I apologize but your question is to general in nature to answer since the idea of a good investment ... | |
| student loans and home ownership | 7/9/2009 |
| Q: I own my home. I think I can sell it for around $150,000. When I finish law school, I will have ... A: The answer to your questions depends on what your specific financial goals are and what you are ... | |
| Investment Advisor | 6/22/2009 |
| Q: When consulting an investment advisor, does it matter which investment firm one chooses, as long as ... A: The answer to your question depends on what you are looking for from a financial advisor. Different ... | |
| Penalty Free Annuity withdrawal | 6/18/2009 |
| Q: I currently have an ING annuity which I've had since 2004. I've never taken any withdrawals from ... A: If you are under age 59 1/2 then any withdrawal from an annuity is subject to a 10% tax penalty for ... | |
| education savings for my son | 6/17/2009 |
| Q: Our son is 1 year old and we want to start saving money for him when he graduates high school, ... A: If you are looking to save for college then I would consider a college savings plan such as a 529 or ... | |
| Finance or accounting | 6/11/2009 |
| Q: Mr. Smith, First I would like to say thank you for taking the time to read this question. My ... A: Since I am not too familiar with University of Phoenix it is hard for me to answer this question. I ... | |
| Finance or accounting | 6/11/2009 |
| Q: Mr. Smith, First I would like to say thank you for taking the time to read this question. My ... A: If you desire is to pursue a CFP position or analyst position them I would pursue the business ... | |
| Xsfer of Credit Union Deferred Savings | 6/10/2009 |
| Q: As a county employee in Texas I enrolled in a county endorsed (but non participatory)457(b)Deferred ... A: There were law changes a few years ago that allowed for some 457 Def Comp plans to be rolled into ... | |
| Is it as important to max out 401K and IRA instead of investing in regular funds? | 6/8/2009 |
| Q: I am 36 years young. I have been investing for the past 10 years primarily in no-load mutual funds ... A: Since you sound like you have a fairly good understanding of investments, I will share the following ... | |
| Pay Debt vs. Invest | 6/7/2009 |
| Q: I have always heard that you should pay off your credit card debt before you take any money to ... A: Conventional wisdom based purely on the opportunity cost of $$ would suggest that you need to earn ... | |
| Is it as important to max out 401K and IRA instead of investing in regular funds? | 6/5/2009 |
| Q: I am 36 years young. I have been investing for the past 10 years primarily in no-load mutual funds ... A: With the advent of extremely tax efficient vehicles such as ETF's, the tax free growth of 401k plans ... | |
| net worth | 6/2/2009 |
| Q: I am trying to complete a FAFSA application for my daughter who has just finished her first year of ... A: Net worth is the total value of everything you own (house, car, bank or investment accounts, company ... | |
| Retirement | 6/1/2009 |
| Q: I want to open a Roth IRA to save for retirement. I want to know: 1) Where should I open the Roth ... A: With $100 to start the account, your options will be limited. Your best bet may be to open an ... | |
| Roth IRA question | 5/21/2009 |
| Q: I understand a ROTH IRA must be open for a five year period before earnings can be taken out tax ... A: Below is a summary of the withdrawal rules applicable to Roth IRA's. Bottom line is you can always ... | |
| Deferred Coimpensation | 5/19/2009 |
| Q: Currently taking monthly paymeents from my deferred comp. I'm not happy with the earnings. Can I ... A: Whether or not you can roll the deferred comp over depends on how the plan is written. You should ... | |
| annuities | 5/19/2009 |
| Q: My parents have most of their life savings in annuities. Half of that amount is with a company ... A: Unfortunately, in today's day of uncertainty, this is a difficult question to answer since the ... | |
| Personal finance for me | 5/12/2009 |
| Q: I am 19 years old i would like to start a career from now and i like to invest and start my own ... A: I would be happy to review the website, although I need addt'l time to do so. Please email me the ... | |
| Retirement Acct Distribution (ESOP) | 5/11/2009 |
| Q: Current ESOP is being distributed. Our income has decreased significantly but of course debt is the ... A: Whether you choose to pay off debt or not depends on your specific financial situation and what you ... | |
| mortgage pay off | 5/10/2009 |
| Q: I have recently retired. I have enough money in a guaranteed growth annuity to pay off the mortgage, ... A: Whether you choose to pay off your mortgage or not depends on your specific financial situation and ... | |
| Medicare and Social Security Relationship | 5/4/2009 |
| Q: I am fortunate in that my husband's job will continue our health plan after we retire. I just read ... A: Sorry if my prior response was not clear. Since you and your husband have already paid into the ... | |
| Medicare and Social Security Relationship | 5/1/2009 |
| Q: I am fortunate in that my husband's job will continue our health plan after we retire. I just read ... A: When you start collecting social security at the allowed retirement age, you also become eligible ... | |
| Website for money matters | 4/29/2009 |
| Q: What recommendation for websites do you have that can help me understand money matters that we have ... A: Your prior question was not too long; it was not clear. To clarify, are you looking for a website ... | |
| Website for money matters | 4/27/2009 |
| Q: What recommendation for websites do you have that can help me understand money matters that we have ... A: Can you please clarify the information you are trying to obtain. The first part of your email ... | |
| 401K distribution | 4/27/2009 |
| Q: I have been contributing to my companys 401K plan for 3 years. My employer used to do a company ... A: the rules regarding 401k plans prevent you from taking $$ out and rolling into an IRA while still ... | |
| mutual funds | 4/27/2009 |
| Q: What fund would you suggest at this time for a long term investment and an aggressive investor? A: Since each person's financial goals and risk tolerances are unique, it is difficult for me to answer ... | |
| 401K usage | 4/23/2009 |
| Q: Smith, I was wondering if I can use my 401K/403B funds to help pay for home improvement/room ... A: Unless something changed when your wifes employer sold ownership, she can borrow against a portion ... | |
| why buy an IRA CD vs a traditional CD | 4/23/2009 |
| Q: If I don't care when I pay taxes on the money I put in a certificate of deposit, why should I buy an ... A: Depending on your income situation you may be able to deduct contributions made to an IRA account. ... | |
| 401k loans to buy down mortgage | 4/22/2009 |
| Q: We have a 5yr arm (460K), 1 year left. Qaulifying loans are 418k in our area. Jumbo loans are at ... A: The answer to your question is not straighforward since there are tradeoffs. From purely a financial ... | |
| Scudder is closing our 401K | 4/17/2009 |
| Q: my husband had a 401K with former employer that has just been sitting there. Scudder has informed ... A: If your husband is younger than age 59 1/2, then yes, you will be faced with a 10% early withdrawal ... | |
| IRA mistake | 4/15/2009 |
| Q: After doing my taxes and seeing that I was going to owe the IRS $3,000.00, I went to my bank and put ... A: You should be able to pull the $$ out of the IRA as an overcontribution, but certain taxes and ... | |
| Quick Question | 4/14/2009 |
| Q: I received an annuity from my fathers death, of 8,000. Are there any taxes that need to be paid an ... A: Whether or not there are estate taxes to be paid by your fathers estate depends on the total value ... | |
| cashing in our retirement IRA | 4/11/2009 |
| Q: My husband is seventy and one half, and his retirement IRA is down over a third since the market ... A: unfortunatley the question you are asking is not easy to answer in a forum such as this since the ... | |
| IRA / leaving the U.S. | 4/10/2009 |
| Q: I am a Canadian citizen leaving in the U.S. with Green Card status. I am going to be moving back to ... A: If you roll the 401k into an IRA prior to moving back to Canada, then this should be OK. However, ... | |
| Percentage & Total Return | 4/9/2009 |
| Q: How is the average total return determined when the amount earns compound interest? For example, ... A: The total return % is a calculation that links together the returns to come up with the average. I ... | |
| investing | 4/6/2009 |
| Q: Smith, My dad recently died and left me an estate of about $150,000-which is a significant to me. I ... A: Althought the above detail is very helpful, it is difficult for me to answer the question "what is ... | |
| Income stream from an award/settlement | 4/4/2009 |
| Q: I am about to receive approx $3M from a non taxable settlement. I am married/46yo with children. I ... A: If you are trying to achieve an income stream of %150,000, that equates to approx 5% income yield. ... | |
| CDs in IRA | 3/31/2009 |
| Q: Smith: I have an IRA with a large investment company. The cash part is invested in their ... A: In order to get the best CD rates you would need to seek out the banks that have offers that appeal ... | |
| ira contribution | 3/29/2009 |
| Q: I made a 6000 dollar contribution to a traditional IRA.Now it is not allowed because I do not have ... A: The income requirements are the same for a Roth IRA as they are for a regular IRA. If you do not ... | |
| safe two year investment | 3/28/2009 |
| Q: I was thinking of investing a small inheritance in an e trade savings account at 1.70%. I will need ... A: What you are referring to is a 529 educational plan in which Vanguard is one of many institutions ... | |
| Financial Planning | 3/26/2009 |
| Q: I have a universal life insurance policy with cash value and do not need the life insurance ... A: Here is the correct answer: No, you cannot. 1031 exchanges are for like kind property exchanges ... | |
| safe two year investment | 3/26/2009 |
| Q: I was thinking of investing a small inheritance in an e trade savings account at 1.70%. I will need ... A: For short term safety the E Trade account should be fine. You mentioned it being a savings account ... | |
| Career as a cfp in india | 3/12/2009 |
| Q: I have done graduation frm du in india in commerce with 47% and now want to be a cfp is it a good ... A: I am not familiar with what is required or necessary to be a financial planner or expert in India. ... | |
| housing market | 3/10/2009 |
| Q: if this is not your area of expertise please help direct me as i had trouble finding the right ... A: I am a not aware of a specific index that tracks companies that focus only on the housing market. A ... | |
| UTMA's & Precious Metals | 3/7/2009 |
| Q: I have UTMA accounts set up for each of my 3 children. As an inflation hedge I would like to ... A: Once $$ are placed in UTMA titling, it needs to remain in UTMA titling or ussed for the benefit of ... | |
| Career as a cfp in india | 3/7/2009 |
| Q: I have done graduation frm du in india in commerce with 47% and now want to be a cfp is it a good ... A: Whether or not becoming a CFP is a good option for you depends on what you are trying to accomplish ... | |
| Will the recession ever end??!! | 3/3/2009 |
| Q: I'm really confused. My husband owns a successful business, has 100 employees, but with the economy ... A: I can empathize with your concerns. Although it may take a few more months for the markets to ... | |
| 529's | 3/2/2009 |
| Q: I have just sent my son a check to open 529's for his sons, ages 4 and 11. Given current economics, ... A: For college investing, the tax benefits of 529 plans still make sense. The question you are ... | |
| retirement accounts | 2/27/2009 |
| Q: our company just stopped matching contributions (up to 3%)in our 401k. Since I have lost about 40% ... A: If it is performance you are mose concerned about, then your company 401k should have a conservative ... | |
| Future 403b Contributions | 2/27/2009 |
| Q: Currently in my 403b I contribute the max and have the following allocations for new contributions: ... A: Whether or not you should make changes to your allocation is dependent on your specific risk ... | |
| Fees for Mutual Funds | 2/22/2009 |
| Q: Would you tell me what the range of fees is for mutual funds? I'm trying to determine if I'm paying ... A: the range of fees vary. At the lowest level you pay only .10% for an index type fund and at the ... | |
| the market | 2/20/2009 |
| Q: when do you think the market will bottom out? A: Sorry i don't feel comfortable answering this question since it's anyones guess. The one thing I do ... | |
| Paying off my mortgage | 2/16/2009 |
| Q: I currently have a fixed 10yr/$60,000/4.65% on $179,000 condo. My spouse and I recently got new high ... A: Whether or not you pay off the mortgage involves several factors based on your specific financial ... | |
| IRA policy | 2/13/2009 |
| Q: My mom has an IRA policy,she passed away many years ago.My dad was the beneficary and he did not ... A: I am not an estate attorney so you should confirm my answer is correct. I believe the rightful owner ... | |
| early annuity withdrawal | 2/12/2009 |
| Q: My husband passed away and left me an annuity worth 133,613.00. I am 39 and own my home outright. I ... A: The best option is dependent on sveral factors that cannot be properly addressed in a forum such as ... | |
| money market ira | 2/11/2009 |
| Q: I'm 68. Four months ago, I quit my money market fund from which I was paid a small monthly ... A: Since I am not a CPA, you should confirm my answer with a tax professional, however, I believe this ... | |
| portfolio | 1/28/2009 |
| Q: I am 68, and have a small portfolio with $135,929.00. My portfolio is with Wachovia. $54,294.18 is ... A: Whether or not you should make a change to your allocation is dependent on your specific financial ... | |
| Can I purchase my company stock for IRA | 1/16/2009 |
| Q: John, I want to open an IRA and would like to know if I can put my company stock that I own in an ... A: You would need to check with the institution where you plan to open your IRA or have an IRA already ... | |
| tax refund | 1/13/2009 |
| Q: Each year I get a significant tax refund (5K+). I am looking to improve my financial standing and am ... A: Unfortunately, there is not a straight answer to your question since the right thing to do is based ... | |
| retirement | 1/10/2009 |
| Q: My wife and I will retire from federal service--USPS-- I under csrs and her under fers. I have 5 or ... A: First, it is important to realize that earning 4% in CD's is very difficult right now. 3% is ... | |
| Fiduciary Duty | 1/10/2009 |
| Q: John As a CFP and a B.S. degree in Financial Planning & Counseling I hope you can you give me some ... A: Yes, in my opinion it may. Do you have a signed IPS (investment policy statement) or risk tolerance ... | |
| Fiduciary Duty | 1/7/2009 |
| Q: John As a CFP and a B.S. degree in Financial Planning & Counseling I hope you can you give me some ... A: In most instances, advisors have arbitration clauses written into their contracts which means a ... | |
| RE Taxes | 12/13/2008 |
| Q: I sold my house in Utah in June 2008. My wife purchased a home in New Orleans in November 2006. We ... A: The rule is if you occupy your home for 2 of the past 5 years then you can avoid paying capital ... | |
| Annuities | 12/11/2008 |
| Q: Good afternoon My mother has the bulk of her savings in 2 mature fixed annuities with AIG of about ... A: At age 83, it may be difficult to get a new annuity issued to her although some dompanies will issue ... | |
| 401K Catchup Contributions | 12/9/2008 |
| Q: My wife and I are both trying to maximize our 401K contributions by utilizing the 5K/yr catchup ... A: Whether or not you should make the additional contributions to your 401k depends on your specific ... | |
| Roth redemption | 12/7/2008 |
| Q: My mom is almost 70 1/2 years old. She has a Roth and a small business account,(401K or SEP), from ... A: In regards to the Roth IRA, there are no minimum distribution requirements so she is OK with that ... | |
| 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: a good general rule of thumb is that you should have between 3-6 months of spending needs in an ... | |
| 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: The real question is how much you want to lock into your 401k for future retirement needs. ... | |
| Pension | 11/22/2008 |
| Q: I have two union pension funds that are taking a dive due to the stock market. Should I withdraw ... A: It;s hard to comment on what you should do since many factors go into a decision such as this and ... | |
| REITS | 11/21/2008 |
| Q: I own shares of Piedmont Office Realty Trust in an IRA. How stable an investment do you feel this ... A: The general consensus of REITs from the sources I pay attention to is that there are some good ... | |
| 403b | 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: In regards to closing out the 403b, if you choose to do this you will only receive the balance less ... | |
| coverdells | 11/17/2008 |
| Q: We have 5 kids (6 yrs. and under) We have Coverdell's set up for the first 4. Didn't do last child ... A: If you want to keep the $$ in the coverdell accounts but don't like seeing it go down in value until ... | |
| investment company | 11/12/2008 |
| Q: I want to change to another investment company, and would like to know of one that you might refer. ... A: The right investment company to use will depend on factors such as what your specific goals and ... | |
| inherited cb&t ira rollover account | 11/3/2008 |
| Q: my mother passed 3 yrs. ago. i am the sole beneficiary.it is in a mutual fund that has performed ... A: Yes, if the value is now below the basis you received upon her death, then there would be not tax ... | |
| questions about saving | 10/31/2008 |
| Q: I recently got married in June 2008. My husband and I now have a combined income of $114,000. We ... A: Congrats! In regards to your questions, please give me a few more details in regards to what the ... | |
| UTMA trust distributions of mutual funds | 10/30/2008 |
| Q: My son is the trustee for a UTMA trust set up for himself and one for his sister. The trusts are ... A: Since your son is Trustee, then technically speaking he should be able to distribute the $$ for his ... | |
| How best to use my $$ | 10/27/2008 |
| Q: I have now gotten over $19,000 in my account & have no other debt than my house ($62000) & taxes ... A: I apologize for the mutiple times going back and forth. I realize in your mind your goals are clear, ... | |
| Annunities | 10/26/2008 |
| Q: At age 58 should I start an annunity or invest in some other retirement form. I havea 401K and a ... A: There is no universal right or wrong. Everyone's situation is different so for some people an ... | |
| Buy Investment Home or Pay Off Mortgage? | 10/25/2008 |
| Q: I apologize if you already answered a question like this. I'm 34-years-old, and I work in ... A: Although your questions and concerns are great ones, it is difficult to answer this with any ... | |
| How best to use my $$ | 10/23/2008 |
| Q: I have now gotten over $19,000 in my account & have no other debt than my house ($62000) & taxes ... A: If saving for college is your most important goal, then the following may be useful. Based on a ... | |
| 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: There is something called rule 72t that allows you to withdraw from an IRA prior to age 59 1/2 and ... | |
| How best to use my $$ | 10/22/2008 |
| Q: I have now gotten over $19,000 in my account & have no other debt than my house ($62000) & taxes ... A: The best way to invest your $$ is dependent on your specific goals, time horizong for investing and ... | |
| Keeping records in IRA accounts. | 10/21/2008 |
| Q: John, I found the question and your answer on keeping records on buy, for example, stocks in IRA ... A: That is correct. Since amounts withdrawn from IRAs are considered taxable income, the only thing to ... | |
| Index Value of 10 year Treasury Note | 10/21/2008 |
| Q: Can you please explain or refer me to info that would explain the meaning of "Index Value" of a 10 ... A: In this instance, the index value is actually the yield of the 10 yr treasury note. In instances ... | |
| Retirement Income | 10/21/2008 |
| Q: Is there a rule of thumb as to what each One Hundred Thousand Dollars of personal cash savings might ... A: A general rule of thumb is 4% of your account can be withdrawn each year without running the risk of ... | |
| ira recharacterization | 10/13/2008 |
| Q: I transferred $4000.00 from a tradtional IRA to a Roth earlier in 2008. Now that the market has ... A: I am not a CPA, so you may want to run this question past one. However, I believe when you ... | |
| 401k vs. Mortgage | 10/10/2008 |
| Q: My husband & I are both 30, have three kids and work full time. We live in Michigan and are ... A: the "lesser evil" really depends on alot of specifics in regards to your finances and future goals ... | |
| 401k vs. Mortgage | 10/10/2008 |
| Q: My husband & I are both 30, have three kids and work full time. We live in Michigan and are ... A: Do you have the ability to borrow from your 401k vs taking the money out? If you can borrow then you ... | |
| Hello | 10/7/2008 |
| Q: 86 hr we have 12,000 save cash in the bank what is the best thing to do to save and make some money ... A: There is no one "best" way to invest that applies to everyone. The "best" way to invest depends on a ... | |
| 401k advice | 10/1/2008 |
| Q: WE cashed out our 401k and now feel we may have made a mistake. Can we return the money without ... A: If you took the $$ out as a distribution and not a loan, then yes, it is too late. To confirm there ... | |
| investments for children | 9/30/2008 |
| Q: I have 2 grandchildren, 5 & 1 1/2. Their father was killed in an accident. What is best to invest ... A: The best vehicle to invest in depends on factors such as the ability for you to control the money, ... | |
| Pay down loans, save, or invest? | 9/12/2008 |
| Q: I'm a recent college graduate with about $35K in debt (12K in student loans @ just above 6%, 20K on ... A: As much as I would like to offer assistance in this area, the questions being posed are too detailed ... | |
| cashing out an IRA | 9/12/2008 |
| Q: We are sinking in debt. I am going back to school - but cannot get student loan relief due to part ... A: Its hard to say whether or not this is a good idea since everyones situation is different. ... | |
| retirement investment into real estate | 8/28/2008 |
| Q: Is is allowable to reinvest a portion of my IRA money into real estate, a condo, for example. Would ... A: Investing your IRA in personal real estate is allowable, however there are very specific ... | |
| ira and credit card debt | 8/23/2008 |
| Q: I am 58 and have several IRAs' that amount to $60,ooo and I have credit card debt that is not ... A: This is a hard question to answer in a forum such as this. From a financial stanpoint, if you earn ... | |
| terminated pension plan options | 8/18/2008 |
| Q: My company has terminated its pension plan. The value of my account is currently $30k. I am ... A: To clarify, the final amount of taxes you will have to pay will be dependent on your tax bracket ... | |
| question | 8/13/2008 |
| Q: Why do all financial research focus on analysing top 500 listed companies only? A: Not all financial analyst research is performed on the largest 500 companies. There are analysts ... | |
| Renting vs. Owning | 8/11/2008 |
| Q: My monthly income is $8222 net. My partner has his own start up business which he's been working on ... A: The answer to this question is dependent on a lot of specifics and details which cannot be prudently ... | |
| 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: First of all, congrats on the proactive thinking in regards to retirement! To help answer your ... | |
| 401k division due to divorce | 7/31/2008 |
| Q: My daughter is in the process of a getting a divorce. Her husband's 401k will be divided 50-50. ... A: There are rules that allow people to borrow from their 401k without penalty. However, in this ... | |
| SEP account retirement funds | 7/28/2008 |
| Q: How do I transfer/cash out my SEP account funds to purchase a new business without being taxed? I ... A: In certain instances you can take $$ out of retirement plans and IRA accounts without penalty, ... | |
| Variable Annuity | 7/27/2008 |
| Q: John, this may be outside your area of expertise, but I appreciate you opinion. I own a VA, which ... A: Since I do not sell annuities, I may not be the right person to ask, however, a couple of questions ... | |
| investment | 7/23/2008 |
| Q: i asked a question about why i, as individual should invest in financial securities and ur reply was ... A: As I hope you can appreciat, I answer many questions for users like yourself and often times the ... | |
| Self Directed IRA | 7/19/2008 |
| Q: Can I set up a self directed IRA and use the funds to make real estate loans? Money from the fund ... A: Investing in direct real estate through an IRA is allowable, but complex. Since this is too ... | |
| Securities vs. Annuities | 7/17/2008 |
| Q: What is the difference? A: Securities are typially registered investment products that you can purchase or sell through an ... | |
| transferring from a 403B | 7/16/2008 |
| Q: I was investing in a 403B through a former non-profit employer for 5 years. I changed jobs a little ... A: It is important to realize you can invest an IRA or 403b "agressively" by having an allocation that ... | |
| 401k | 7/16/2008 |
| Q: I read an article today about Principal Financial may need more capital for losses incurred (ie ... A: The fact that your wife has $$ in Principal funds is unrelated to any potential financial problems ... | |
| Child Investment | 7/15/2008 |
| Q: I have $10,000 I would like to invest in my child's behalf. I do not want all of it in an education ... A: If you want to retain control over the money until your child reaches the age of majority (18 or 21 ... | |
| personal finances going backwards! | 7/14/2008 |
| Q: I am a recetly divorced single mom with 2 children in college. 3 yrs ago I owed $101,000 (11 yrs to ... A: I wish I could offer advice for this situation, however, as you can imagine, there are many factors ... | |
| Relocating: sell/rent old home vs. buy/rent new | 7/11/2008 |
| Q: Contemplating relocating from SLC, UT to LA, CA. Current house is nearly paid off, has a fantastic ... A: Whether you sell or rent the old home and buy or rent a new one depends on specific circumstances ... | |
| Which type of account | 7/10/2008 |
| Q: In your opinion, what are the best options for putting emergency money. They suggest that you have ... A: For emergency funds, I would agree with the thought of using a money market account, CD, or some ... | |
| IRA CD | 7/10/2008 |
| Q: I am 57 yrs. old. I have a 12 month IRA CD coming due next month. Can I roll this over to another ... A: As long as you roll the proceeds into another account titled in the name of your IRA there will be ... | |
| should I sell my house? | 7/10/2008 |
| Q: I hope you can help me make a decision. I am a divorced mother of two. I get $2000 a month in ... A: Your question is a good one and unfortunately too complicated to give a direct answer in a forum ... | |
| 401k transition | 7/2/2008 |
| Q: I recently changed companies and want to move my 401k to end paying additional administrative fees. ... A: The comments about rolling your 401k to an IRA are somewhat correct, however, I would not let that ... | |
| MONTHLY DISABILITY PAYMENT BUYOUT | 6/30/2008 |
| Q: I am 61 years old born 06/07/1947 I am getting $427. @ month for a long-term disability it pays ... A: This does make a difference, however, not a huge difference. In order for the $13,000 to provide ... | |
| MONTHLY DISABILITY PAYMENT BUYOUT | 6/28/2008 |
| Q: I am 61 years old born 06/07/1947 I am getting $427. @ month for a long-term disability it pays ... A: Unless there are details I am unaware of, this is a terrible deal and Aetna should be ashamed of ... | |
| irrevocable trust | 6/19/2008 |
| Q: Can an irrevocable trust purchase and sell land to add value to the trust without affecting Medicaid ... A: It sounds like it is a Self Settled Special Needs Trust, also known as an OBRA Trust. In the Trust ... | |
| irrevocable trust | 6/19/2008 |
| Q: Can an irrevocable trust purchase and sell land to add value to the trust without affecting Medicaid ... A: The answer to this question isn't very straightforward. Please clarify a few things: 1) who is the ... | |
| college funding | 6/19/2008 |
| Q: Have you heard of 123College? They purport to have a turn-key system to conduct searches for all ... A: I have heard of 123college, however, I am not very familiar with their website nor their tools. In ... | |
| IRA question | 6/17/2008 |
| Q: What is the difference between a tax deductible IRA & a nondeductible IRA? I have a traditional ... A: I don't know that there is an advantage, per se, of these up front charges. The charge is a ... | |
| Is buying a foreclosed home a good investment? | 6/15/2008 |
| Q: I have approx. $500,000 cash that I would like to invest. I am thinking of buying a foreclosed home ... A: These questions are too general in nature for me to answer. Whether to buy a forclosed property is ... | |
| IRA question | 6/14/2008 |
| Q: What is the difference between a tax deductible IRA & a nondeductible IRA? I have a traditional ... A: A tax decuctible IRA is one in which you made contributions that were deductible on your income tax ... | |
| 401 k to ira | 6/11/2008 |
| Q: I have an L fund with the federal gov. and have retired. It sounds like I could lose it all if ... A: Please go to the following link to help answer your question. ... | |
| First Investment | 5/19/2008 |
| Q: I don't have a lot of capital to invest, I have done some research and have a good idea of what I ... A: Yes, in my opinion, being diversified is very important. With small amounts to invest you may be ... | |
| 2nd Mortgage Payoff vs Savings/Stud Loans/Walk | 5/19/2008 |
| Q: John, We purchased a home a little over 2 years ago with the intend of relocating after 5 years. ... A: This question is more complicated than a forum such as this will allow for the correct answer. In ... | |
| 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: There are broker sold CD's at institutions such as Schwab, Fidelity, etc, however, their rates are ... | |
| UTMA Distributions | 5/15/2008 |
| Q: As you know, an any UTMA contributions are considered irrevocable gifts and can not be used for the ... A: When you request $$ to be paid to the custodian you are required to sign an affidavit stating the $$ ... | |
| Fee Schedules for RIA's | 5/9/2008 |
| Q: Is there a standard fee structure for RIA to use for their clients and services? A: There is no "standard" since different advisors offer different services. A typical fee structure ... | |
| Gold | 4/24/2008 |
| Q: I am 5 years away from having to take RMD. I am thinking about making small annual withdrawals now ... A: As you may be aware, any $$ you take from your IRA are taxable, so it is important to keep this in ... | |
| Financial Advisor vs Life & Annuities Sales | 4/22/2008 |
| Q: What is the difference between a financial advisor who sells stocks and bonds verses a salesperson ... A: Generally speaking, the commissions a life insurance agent collects up front for selling insurance ... | |
| 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: First, to clarify, since you are no longer with your previous employer you wil not incease your ... | |
| I am studying to be a financial planner | 4/15/2008 |
| Q: I am struggling with my financial planning assignment. The question I have been asked is: "Assuming ... A: Normally I do not answer homework questions, so let me ask the following which I hope will put some ... | |
| Role of Real Estate in Retirement Planning | 4/15/2008 |
| Q: I'm trying to evaluate two potential paths toward retirement for my situation. Experts appear to ... A: Your question is a good one, and at risk of falling in line with the other "experts" you have ... | |
| Retirement | 4/14/2008 |
| Q: I like some of my friends don't have any retirement saved. I'm 54 and what can I do? My finances ... A: I apologize but your question is to general in nature for me to answer. Each persons retirement ... | |
| choosing an investment advisor | 4/13/2008 |
| Q: My question is that I am going to my local credit union & they have a team of financial advisors ... A: There is something called CFP (which stands for Certified Financial Planner) which I feel is a ... | |
| paying for school | 4/11/2008 |
| Q: I have more of a comment than a question- My wife and I just came back from some college interviews ... A: I would still encourage you to visit www.finaid.org to make sure you have reviewed all of your ... | |
| paying for school | 4/10/2008 |
| Q: I have more of a comment than a question- My wife and I just came back from some college interviews ... A: I understand your frustration. As unfortunate as it is to say, the reason I believe the system "does ... | |
| 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: Nobody know for sure what will happen,however, there is a liklihood that Heloc loan rates may be ... | |
| Owning vs. Rental | 3/26/2008 |
| Q: I am a 55 years old male and I am planning to retire in 2 years and I can live off my pensions. I ... A: The answer to your question involves many factors unique to your situation such as cashflow, taxes ... | |
| 403B inquiry | 3/18/2008 |
| Q: My company does not match my 403B until I have been at the company for 2 or more years. I have ... A: To clarify, are you still working for the same company that sponsors the 403b? If so, then you ... | |
| RMD | 3/13/2008 |
| Q: "Since I have reached 70 1/2 and started making RMD from my IRAs, I don't know what to do with the ... A: Once you take your RMD from the IRA, you can invest this money however you would like. The tax ... | |
| selecting a registered financial advisor | 3/10/2008 |
| Q: What are the benefits of hiring someone to manage your money as opposed to doing it yourself? The ... A: Only you can answer the question about the benefits of hiring an RIA vs doing it yourself. I would ... | |
| Annuities | 3/10/2008 |
| Q: Would you advise investing in an annuity for me at age 74? Where is a safe place for my money with ... A: How you should invest your money is dependent on your risk tolerance and specic investment and rate ... | |
| safety of investment | 3/7/2008 |
| Q: I am 57 yrs old, i have a non qualified variable annuity with axa presently in their fixed income ... A: subject to the strength of the insurer (AXA in this case) the amount you initially put into the ... | |
| guaranteed annual gain over inflation | 3/6/2008 |
| Q: I am looking for a fund manager who will ensure and guarantee me an annual earning from his ... A: I am not aware of any money manager that will guarantee this and charge thier fees as you described. ... | |
| Roth IRA reporting on 1040 | 3/4/2008 |
| Q: We just set up a Roth IRA for my wife in April of 2006. I remember when I set one up for myself a ... A: I am not a CPA so please double check my comments before using this information to file your taxes. ... | |
| Roth IRA reporting on 1040 | 3/4/2008 |
| Q: We just set up a Roth IRA for my wife in April of 2006. I remember when I set one up for myself a ... A: The rules for Roth IRA's have not changed. Once the account has been opened for 5 years, you can ... | |
| 403b allocation change | 2/28/2008 |
| Q: I have some money in a 403b through Vanguard. It is currently in the Vanguard Prime Money Market ... A: If you could accurately predict when the exact bottom of the market will occur, then I would say you ... | |
| Fund allocation | 2/27/2008 |
| Q: My portfolio includes a Roth I.R.A. It is conventional wisdom, I believe, to arrange one's overall ... A: In my opinion, a persons portfolio allocation should be based on their specific risk tolerance and ... | |
| 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: As you can imagine, every person situation is different and alot of factors go into what is the ... | |
| early cash out of IRA? | 2/9/2008 |
| Q: John, I am 39 years old, employed (making approx $140K per year), with a wife (homemaker) and 3 ... A: The answer to your question comes down to opportunity cost and whether or not your net IRA wd (after ... | |
| non-qualifed defererd compensation rollover | 2/8/2008 |
| Q: I was in a non qualified deffered compensation plan and my companie was bought out. Can I roll over ... A: Your specific def comp agreement will address this issue, however,since it is a non-qualified def ... | |
| paying off student loans for college | 2/6/2008 |
| Q: I am 18 years old and I am planing to go to an out of state college that will end up costing me ... A: I apologize, but your question is to general in nature for me to answer in a forum such as this. ... | |
| Parent Annuity | 2/6/2008 |
| Q: Have a parent that purchased an non-qualified annuity several years ago, the term is about up on it ... A: What they should do with the annuity when it expires is dependent on certain factors unique to their ... | |
| 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: The advantage of a Roth IRA vs other forms of retirement savings as that you pay no taxes when you ... | |
| retirement planning | 2/4/2008 |
| Q: I am in a NJ state pension plan which is contributory, and I also put money in a TSA through the ... A: Tax law does allow a person to be a participant in a pension plan and 401k plan at the same time. ... | |
| Investment Planning | 1/31/2008 |
| Q: I am 22 years old and I have a good sum of money that is sitting in my checking account. I am ... A: Since many factors go into this decision and the right answer ultimately depends on factors such as ... | |
| 529 educational plans | 1/27/2008 |
| Q: I have oneI'm in Ca and thinking about opening an out-of-state 529 plan because of the lower ... A: Each state can treat the taxation of earnings differently as it relates to using an out of state 529 ... | |
| refinance now? | 1/24/2008 |
| Q: I am 2 years into a 10 year interest only mortgage at 6.25%. I put 70K down with a mortgage of ... A: If you choose to refinance into a 30 yr fixed, assuming a rate of 5.75%, your monthly payment would ... | |
| Retirement Plans | 1/24/2008 |
| Q: I am a US Citizen currently employed by a Hong Kong listed company. There is no retirement plan ... A: If you report earnings on a US tax return then you are elgible to make contributions to an ordinary ... | |
| IRA question | 1/22/2008 |
| Q: My wife and I are educators. We earned $115,000 last year and have been saving in our 403b plans. ... A: In most instances, if you are eligible to contribute to a qualified retirement plan such as a 401k ... | |
| Tax strategy | 1/22/2008 |
| Q: I am retired and collect a pension. My wife and I are both over 50. To supplement my pension, I do ... A: A qualified retirement plan is normally a good option. A Solo 401k would need to have been ... | |
| UTMA vs 529 college savings | 1/15/2008 |
| Q: My daughter, age 17, high school senior, has an UTMA mutual fund <50K, approx 17K profit. She will ... A: If you liquidate the UTMA and place the proceeds into a 529 UTMA you will still have to pay taxes on ... | |
| Licensing | 1/12/2008 |
| Q: is a Series 7 required to start my own personal financial planning fee-only practice that advises ... A: Depending on the services you want to offer, neither series is required to start your own firm. ... | |
| Inheritance | 1/8/2008 |
| Q: I just recently inherited $50,000 from my grandmother. My husband & I are looking to invest it, but ... A: Regarding your question about taxes: unless your grandmothers total estate exceeded the exemption ... | |
| mutual funds | 1/7/2008 |
| Q: I'm not sure if you can answer this or not, but I have a question about investing in mutual funds, ... A: Your rate of return depends on the success of your invesmtments. Each year can and will be ... | |
| cashing in 401k to payoff mortgage. | 12/7/2007 |
| Q: John, I just got laid off from my job after 24 years.I am 48 years old,married with 2 small ... A: Generally speaking, I rarely recommend someone liquidate their retirement plan to pay off debts, ... | |
| Daughter Trust from Grandfather | 12/1/2007 |
| Q: 29 year old Daughter is receiving 120,000 in when she turns 30 years of age. She also receives ... A: There is no universal "best way" for her to invest this money since the best way to invest is based ... | |
| Saving for a home | 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: The scope of your question is a little deeper than you may think. 403b and 401k plans allow you to ... | |
| Series exams | 11/21/2007 |
| Q: I'm considering what it would take to become a Financial Planner. There are several Series exams ... A: If you are looking to get paid commissions for your work, then you would need to get the proper ... | |
| CFP criteria | 11/20/2007 |
| Q: Is this accurate? Also, I know this is a stupid question, but does a Financial Planner give advice ... A: The CFP designation requires you take a curriculum of specified coursework sanctioned by the CFP ... | |
| question | 11/19/2007 |
| Q: At this time I have about 50K in my money market account in the bank. I need to put my mother as the ... A: If you don't mind, I would prefer to use Allexperts as a means of communication since my advice ... | |
| question | 11/17/2007 |
| Q: At this time I have about 50K in my money market account in the bank. I need to put my mother as the ... A: If your mother is listed as the sole primary owner of the account then she will have access to this ... | |
| advice for education savings | 11/9/2007 |
| Q: Experts, I have a rather unique situation. I've budgeted bi-weekly contributions to be saved over ... A: A 529 plan can be used for any qualified expenses, which go beyond tuition. In your instance, if you ... | |
| using 529 funds | 11/1/2007 |
| Q: I been investing in a 529 plan for my daughter and have used some funds for her college. It turns ... A: If your daughter end up not using this money and you have no other beneficiaries you would like to ... | |
| Use reverse mortgage to buy condo | 10/29/2007 |
| Q: My wife wants to buy a condo cost about $90000.00 we cannot put a mortgage on it because we cannot ... A: Generally speaking, reverse mortgages are not good deals because of the high costs to obtain and the ... | |
| Additional withdrawal after 72t established | 10/19/2007 |
| Q: I have been receiving withdrawals from my IRA using a 72t distribution for the last two years after ... A: Revised Answer: Rule 72t allows you to take distributions based on your life expectancy for the ... | |
| retirement planning | 10/15/2007 |
| Q: I recently "retired" from my job in law enforcement . I am under 40 and collect a pension. I have ... A: Yes, if you are self employed and have income, there are various plans you can start that allow for ... | |
| avoiding taxes | 10/12/2007 |
| Q: I am join owner of a house with my brothers. My brother is going to give me my share in cash - ... A: Going under the assumption the house was an inheritance, you should have received a step up in cost ... | |
| financial plans | 9/29/2007 |
| Q: I graduated from college last spring and took a job this fall. I have no loans and about $12,000 ... A: To clarify, is it assumed the $12,000 needs to be there for law school or is the investment time ... | |
| about portfolio investment | 9/14/2007 |
| Q: what are the advantages and disadvantages of investing in a share portifolio using my own funds ... A: Maring lending involves "borrowing" money from your portfolio to invest. In some instances you can ... | |
| investment | 9/5/2007 |
| Q: i have $20000 to invest currently i receive every month from citi bank 5 interest on them money ... A: The best way to invest your money is dependent on your specific financial goals and risk tolerance, ... | |
| Inheritance | 9/4/2007 |
| Q: I inherited $21,000. I am 66, married and still gainfully employed. How can I make this money work ... A: I am sorry, but as mentioned previously, the answer to your question is dependent on factors that ... | |
| Inheritance | 9/4/2007 |
| Q: I inherited $21,000. I am 66, married and still gainfully employed. How can I make this money work ... A: The best way to have this money "work for you" is dependent on your specific financial goals, risk ... | |
| Financial Planning... | 8/30/2007 |
| Q: Mr. Smith, My name is Keith Evans. I'm 22 years old and I want to begin investing short-term ... A: In my opinion, generally speaking, Fidelity and T Row Price are both decent fund companies. The key ... | |
| 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: Due to what appears to be a significant amount of dollars and the complexities that are involved it ... | |
| LIFE PLANNING | 8/24/2007 |
| Q: I am starting my life over and currently going to college w/ no job, living w/ family members who ... A: Congratulations!! It is great you get this wonderful chance. I apologize, but this question is to ... | |
| investment plan | 8/14/2007 |
| Q: I am 34 years old with a monthly salary of 5000 dollars and has about 30,000 dollars in my saving ... A: The answers to your questions are based on information and specifics that are too detailed in nature ... | |
| Retirement | 8/11/2007 |
| Q: I too am a volunteer for this site under the firefighting category and need your expertise if you ... A: You are correct in saying there are alot of variable that go into determining the best way to save ... | |
| Forex | 8/9/2007 |
| Q: Would you go to the following site and give me your honest opinion about the investment strategy it ... A: I appreciate your feedback on my answer. Please keep in mind that the question you asked was not ... | |
| Pension terminated by employer | 7/30/2007 |
| Q: My employer of 21 years has terminated their defined pension plan. I am 56 years old. The plan ... A: You options to invest that are not related to the stock will be dependent on what you do with your ... | |
| Income Generation UNTIL Retirement | 7/30/2007 |
| Q: My situation is probably a bit different than that of many folks. Not only am I funding a 401(k) at ... A: If you invest the 100k and earn 7% per year, you could expect to withdraw approximately $8500/year ... | |
| Pension terminated by employer | 7/30/2007 |
| Q: My employer of 21 years has terminated their defined pension plan. I am 56 years old. The plan ... A: Your options as it relates to the termination of your pension are based on the type of termination ... | |
| retirement | 7/29/2007 |
| Q: I am a postal worker age 58 under the csrs retirement. I am thinking about making a voluntary ... A: Whether or not making the voluntary contribution of 50k makes sense is dependent on many factors ... | |
| investment mix for retirement | 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: As a general rule of thumb, investors should feel comfortable withdrawing 4% of the portfolio during ... | |
| investment mix for retirement | 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: In order to help answer this question it would be helpful to know the following: how much do you ... | |
| debt & saving ?? | 7/12/2007 |
| Q: I have a line of credit with $6000 owing on it. And have about $3000 in a savings account. I REALLY ... A: If you primary goal is to pay off your debt as quick as possible then adding to savings does not ... | |
| debt & saving ?? | 7/12/2007 |
| Q: I have a line of credit with $6000 owing on it. And have about $3000 in a savings account. I REALLY ... A: In order to maximize your debt payments and savings, you will need to first determine if you can ... | |
| business loan vs. equity vs. renting | 7/2/2007 |
| Q: We are about to expand our bakery and are thinking about moving closer to downtown (Seattle). We're ... A: Running some quick numbers, I have the following comments to share: If you purchase a new condo and ... | |
| business loan vs. equity vs. renting | 7/2/2007 |
| Q: We are about to expand our bakery and are thinking about moving closer to downtown (Seattle). We're ... A: This is a pretty specific question with a lot of different factors playing into the right thing to ... | |
| pay off mortgage or 401k | 7/1/2007 |
| Q: My wife and I are both 49. I earn $84000 a year and she makes $82000. We have $400,000 in retirement ... A: Your question about saving in a 401k vs paying off a mortgage can normally be analyzed from a ... | |
| rent, buy or lease | 6/24/2007 |
| Q: I’m thinking of selling my house in which I’ve lived for 20 years and either buying another house or ... A: There is no one answer regarding the decision to buy vs rent that applies to everyone. There are ... | |
| Financial forecasting | 6/21/2007 |
| Q: Being the finance manager of a company how will u make a financial forecastig? A: If I understand the question correctly, you are asking how a finance manager of a company makes ... | |
| Annuity | 6/18/2007 |
| Q: Greetings. I bought an annuity 11 years ago with after-tax dollars (non-qualified). The surrender ... A: Yes, if you are under age 59 1/2 you will be subject to the 10% early withdrawal penalty. The ... | |
| 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: Unless you choose to do something different, the life insurance proceeds will be paid to you in a ... | |
| Real Estate Investment or Other Investment | 5/8/2007 |
| Q: We currently own a triplex in which we live in one unit. The triplex's mortgage, taxes and expense ... A: Regarding your question about the 100k; 7.25% is a pretty competive rate for the 2nd mortgage on ... | |
| Real Estate Investment or Other Investment | 5/7/2007 |
| Q: We currently own a triplex in which we live in one unit. The triplex's mortgage, taxes and expense ... A: There are several factors of consideration that go into this decision. To help me better analyze, ... | |
| Financial planning service | 4/27/2007 |
| Q: My husband and I (50 & 46) are in the process of searching for a financial planner. We did our ... A: First let me say that it is too bad that the charges came as a surprise to you and your husband. In ... | |
| 50K to invest | 4/19/2007 |
| Q: My wife and I just sold a rental property and have 50K to invest. We are both 30 years old. We ... A: As you somewhat made reference to, there are alot of options and considerations in deciding how to ... | |
| Financial Job | 4/8/2007 |
| Q: I needed advice, I have been searching for a job lately in government. Nonetheless been very ... A: This is a commision paid job selling financial products. Your ability to earn income will be based ... | |
| retirement fund withdrawals | 4/6/2007 |
| Q: I will be retiring soon at age 55. It is my understanding that since I am retiring I can take money ... A: Sorry for the delayed response. Rule 72t refers to making withdrawals from IRA accounts prior to ... | |
| teenager with first job wants to use money right | 4/2/2007 |
| Q: I'm a teenager just got my first job $7.25/hr. What should I invest in? What things might I be ... A: I would start by buying the book "Get a Financial Life" by Beth Kobliner. This is a great book for ... | |
| Investments | 3/21/2007 |
| Q: My aunt received money when her company closed. Her financial adviser informed her that she has to ... A: I am not aware of New Jersey law so if there is something unique there I am not the person to advise ... | |
| Parent's retirement | 3/14/2007 |
| Q: My parents are in their 50's. My father contributes the max to his TSP and my mother just started ... A: I am a firm believer that there is not one allocation that is right for someone just because of ... | |
| new car/lease car | 2/24/2007 |
| Q: For years I leaned towards leasing a car rather than buying, mostly because I enjoy driving a newer ... A: I am not aware of a way to get out of the purchase agreement and turn this into a lease instead. ... | |
| 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: There is a distinction between "leaving a job" and "retiring" at age 55. If you are still working ... | |
| SEP and old 401k | 2/22/2007 |
| Q: Just so I am clear, I only contributed to SEP 1 year when self employed. I will move into an IRA ... A: If you roll your existing SEP into and IRA with your 401k plan and then become self employed again, ... | |
| fund expense example | 2/19/2007 |
| Q: In an effort to understand the effect of mutual fund operating expense on return I found a website ... A: At my first attempt, I came up with the same answer you did. After performing a couple of ... | |
| Medicare | 2/13/2007 |
| Q: John: I am a volunteer with a local community organization called Senior Focus. We help seniors ... A: I am not a CPA so my answer may not be 100% accurate. As you stated, my understanding is also that ... | |
| Investing for children's education | 2/13/2007 |
| Q: I have 2 small children, both under 5 years old and had a question on the best way to save for their ... A: Before I answer your question, let me direct you to a website that I think you will find helpful; ... | |
| Paying for a Mutual Fund Advisor | 2/8/2007 |
| Q: I am a client at a major brokerage house. My registered representative is strongly suggesting that ... A: It is difficult to answer the question as to whether or not paying the $7500 makes sense. What I ... | |
| Which is best? | 1/23/2007 |
| Q: They were quite informative. I do have one additional question I hope you can clarify. You ... A: I apologize for the multiple responses. I realized I neglected to mention the part about the ... | |
| Which is best? | 1/23/2007 |
| Q: I will try my best to make this question as brief as possible. We have some very good friends that ... A: My experience has been that most people like real estate investing because they can have the full ... | |
| advice | 1/22/2007 |
| Q: I am 30 years old single male from Detroit, MI. I live with my 2 siblings and our mother. I make ... A: Your question involves alot of different assumptions and what if's, so it is very difficult for me ... | |
| Finaccial planning | 1/16/2007 |
| Q: I'm 28 years old and I live in the Bay Area, and I make about 40,000 a year and I don't have the ... A: To clarify, most 401k plans allow you to borrow up to 50% of your vested balance, which you then pay ... | |
| pensions | 1/11/2007 |
| Q: can my husband lose his pension from his New Jersey firefighter job if he also works another job in ... A: Unless there is something unique to your husbands pension, then the answer is no, he will not lose ... | |
| pensions | 1/10/2007 |
| Q: Can an employee's pension be forfeited from one employer in one state if the employee has wages and ... A: Can you please describe what you mean by "forfeited"? I obviously know what forfeited means, but ... | |
| question | 1/7/2007 |
| Q: How are you; I hope you are doing fine; I need your help about making an important decision. -I ... A: If you go to www.bankrate.com, you can get the rates other banks are paying on money market ... | |
| Personal Investments | 12/21/2006 |
| Q: I have a follow up question about investing my money. How do you feel about banking overseas? ... A: You're welcome. Regarding your follow up question, I apologize, but I am not familiar enough with ... | |
| Matrix scam? | 12/19/2006 |
| Q: I have recently been asked to join a business which deals with travel accommodations. The online ... A: I am by no means and expert on Pyramid schemes so I would suggest you "Google" the term and read ... | |
| Personal Investments | 12/16/2006 |
| Q: I will be selling our family business next year and will be getting around 700k. I would like to ... A: Bankrate.com provides a good listing of local savings, CD, money market rates, etc. My exeriense ... | |
| 401K | 12/13/2006 |
| Q: I work for an Indian casino in California. We have a 401K plan with Transamerica to which I ... A: $$ that you contribute into a 401k go into a separate fund that is protected from company ... | |
| should I invest and what in | 12/12/2006 |
| Q: I will be 22 soon and I am going to medical school after I graduate next semester. I will be living ... A: The financial answer to this question is if you can invest the $$ and earn a higher return than the ... | |
| T-Bills & Tax Deferment | 11/29/2006 |
| Q: i have apparently been misinformed as to the function of treasury bills. the sources i received this ... A: To make sure I understood your original question properly, your thought was to take the proceeds ... | |
| 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: If I am understanding your question properly, taxes are due on investment gains when they are ... | |
| 401k vs. 457 | 10/25/2006 |
| Q: I work for the state of California, and we have the option to contribute to both a 401k and a 457 ... A: The biggest difference is a 457 can be accessed at age 50 if retired, the 401K is subject to the age ... | |
| Money Planning | 10/22/2006 |
| Q: I have just medically retired from Illness I received due to deployment on hurricane Katrina. I have ... A: How you invest this money depends on your specific financial goals and risk tolerance. "Burying it ... | |
| 401(k) | 10/20/2006 |
| Q: I have just changed jobs where they do not offer a 401(k), but my previous employer did. I did ... A: This is a difficult question to answer without knowing much more about the 401k. Typically, moving ... | |
| A 5 yr. plan | 10/4/2006 |
| Q: and thanks in advance for your response. My husband and I would like to move out of the corporate ... A: Based on your situation, it sounds like you could benefit most from a comprehensive financial ... | |
| Who best to invest my wife's families trust | 9/26/2006 |
| Q: My wife is a trustee of her parents trust. She wishes to maximize return on investment without ... A: In this situation, it is very difficult (and not prudent) of me to offer specific investment advice. ... | |
| Early Social Secuity relating to survior benefits. | 9/23/2006 |
| Q: I plan on drawing At full retirement age at 66. My wife will draw reduced off my benefits @63. She ... A: Your wifes benefit will be 100% of your PIA (primary insurance amount) assuming she has reached FRA ... | |
| ira rollover | 9/19/2006 |
| Q: Six months ago, I rolled over 70k from my 401k from a previous employer and invested in an ira ... A: A couple of things can be occuring. 1st, the annuity is what is called an indexed annuity, which ... | |
| Hong Kong Stock Exchange | 9/19/2006 |
| Q: Can a U.S. Citizen open an account and trade in HKSE and/or Shanghai SE or Shenzen SE? What is the ... A: There are many barriers of entry to investing in Chinese stocks. The only way at this point in time ... | |
| fixed deposit account | 9/10/2006 |
| Q: What is the generally accepted lowest interest rate for a fixed deposit in a bank over a period of 1 ... A: This depends on the type of fixed deposit account. Right now, in the USA, an average rate for a ... | |
| Retirement planning | 9/7/2006 |
| Q: I own a real estate company and a real estate investing compnay in which we flip or hold ... A: How you invest the $30,000, in my opinion, is based entirely on your specific financial objectives ... | |
| Finance | 8/20/2006 |
| Q: How much would I have to invest to get an income of $500 per week for 5 years and have the entire ... A: To clarify, is the $500/week you want before or after tax? If it is before tax, then assuming a 5% ... | |
| Road to achieving CFP | 8/7/2006 |
| Q: John D Smith, I am a new finance graduate at CSU Eastbay with no prior work experience in finance ... A: There are several directions you can take, depending on the opportunities available in your area and ... | |
| future plans | 8/2/2006 |
| Q: I'm 17 years old and I HAVE MANY FUTURE PLANS. My goal is to be a millionaire by the time I RETIRE. ... A: Congratulations on having the ambition that you do! Instead of trying to explain how the stock ... | |
| IRA | 7/30/2006 |
| Q: My husband and I are in our 60's. We have an IRA managed by a financial consultant at a financial ... A: Although I am knowledgable in the estate planning area, whether or not you should have a will ... | |
| 23 year old college student | 7/30/2006 |
| Q: I am 23 years old and still attending college. I have saved $10,000 so far. I don't have any debt ... A: How you invest this $$ depends on your specific financial goals, risk tolerance and time horizon for ... | |
| Retirement Income | 7/24/2006 |
| Q: I was let go from my job without warning last year and had to retire because of a heart problem. I ... A: The answer to your question depends on factors that are unqiue to your situation such as risk ... | |
| Advice for future physicians | 7/24/2006 |
| Q: John, 20 years ago, physicians graduated from medical school with little or no debt and were able to ... A: The answer to your question is mostly dependent on your future cashflow situation, your definition ... | |
| mutual funds | 7/23/2006 |
| Q: I have a couple thousand to invest.Is vaapx or vgstx good funds to invest in. I am 30 years old. A: The right way to invest your $$ is dependent on your specific financial goals, tolerance for risk, ... | |
| financial planning | 7/21/2006 |
| Q: Who do you think financial planning is more important to a millionaire or an individual who lives ... A: I think financial planning is appropriate for anyone who has financial issues that need to be ... | |
| 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: Whether a variable annuity, vairable life insurance, or neither, are right for you depends entirely ... | |
| financial records | 7/8/2006 |
| Q: I am trying to find out how long to keep financial records including reciepts, bank accounts (what ... A: If this is for tax purposes, the look back period for an IRS audit is 3 years. However, if you are ... | |
| Investing | 7/5/2006 |
| Q: i am planning to work on the cruise ship so i will be unable to pay attention to my investments for ... A: In some ways, not paying attention for months at a time may serve you well. The only reason I say ... | |
| Paying for College | 6/28/2006 |
| Q: Great answer, thank you very much. I did have one more question looking at the referenced document. ... A: I agree the example is confusing. In their example, the assumption is that the IRA withdrawals are ... | |
| Paying for College | 6/27/2006 |
| Q: My daughter has a scholarship that specifically states that it may only be applied to tuition and ... A: I apologize. I would like to amend my answer to your question. I too was under the impression a ... | |
| Outlook on US bond market | 6/22/2006 |
| Q: With the volatile market situation in Asia Pacific, I am intending to park my money in either ... A: The short term outlook for US interest rates is slight increases over the next few months (.25% - ... | |
| 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: I agree with your strategy of investing the $$ in mutual funds and "forgetting" about it. If the ... | |
| IRA and Divorce | 6/4/2006 |
| Q: I have several questions relating to the settlement of a divorce and the splitting of IRA funds. ... A: Typically, the spouse receiving the settlement share of the IRA will open his/her own IRA and ... | |
| Payment Method for Financial Advisor | 6/3/2006 |
| Q: I recently started working with an AXA financial planner. I just finished part 1 which is ... A: Yes, this is a fare question, and in my opinion, he should be disclosing this information without ... | |
| Self-directed IRA's | 5/30/2006 |
| Q: I've just read an article in Forbes (June 5, Investment Guide, page 161), which refers to ... A: That's correct. However, the typical procedure is to roll another qualified plan (IRA, SEP, 401k, ... | |
| Loan | 5/29/2006 |
| Q: I have approximately $190,000.00 in rollover IRAs. I would like to pay off education expenses ... A: Actually you can't "borrow" against your IRA. If you take $$ from your IRA and want to avoid the ... | |
| credit card debt | 5/26/2006 |
| Q: Unfortunately over the past couple years I have accumulated about $20,000 in credit card debt. I ... A: Unfirtunatley there is no one answer that is right for everyone in this situation. Normally, I do ... | |
| Should we sell our home? | 5/23/2006 |
| Q: The other 1/3 is to buy a new house. I mentioned retirement only because I do not think it will ... A: Unless the 1/3 will be enough to buy a new house, then you will be forced to take out another ... | |
| Should we sell our home? | 5/22/2006 |
| Q: Please settle a raging debate. We bought our home in 1998 and added on by finishing the basement. ... A: Unfortunately, the right thing to from a financial standpoint rests on the unknown. If, you sell ... | |
| cashing in RSP's for mortgage | 5/19/2006 |
| Q: I'm 48 this year. I have just built a new home ( but it is a new home on land we have lived on for ... A: Although there is no right or wrong answer that applies to everyone, In most instances, I do not ... | |
| pay off mortgage? | 5/5/2006 |
| Q: My wife and I are 40 and 41 we have 3 children;12,12,10. We have a primary residence and a second ... A: There are 2 issues at bay here....student loans vs financial aid. Im assuming you are asking about ... | |
| Early Social Security Payments | 5/4/2006 |
| Q: Should someone start taking his Social Security payments when he qualifies for them and continue ... A: When to start taking social security benefits depends on several factors such as a persons age, work ... | |
| My debt | 4/25/2006 |
| Q: I have a mortgage of $50,000 on a condo that's worth about $250,000. I just refinanced last year. ... A: In my opinion, the course of action you should take depends on how long it will take you to pay off ... | |
| 529 Plans | 4/22/2006 |
| Q: I am saving money to return to school in 2007 to get a law degree. I'm still deciding but a 529 ... A: First, to clarify, make sure there is a clear undersanding of how the 529 you open will impact ... | |
| early investment | 4/16/2006 |
| Q: I am a 20 year old Georgia Institute of Technology chemical and biomolecular engineering student. I ... A: There are a number of routes you can take but in my opinion, starting your investments in a low ... | |
| Mutual Funds | 4/11/2006 |
| Q: I am looking at different options for mutual fund investment. I would not expect you to give ... A: That is a very common question these days. For the long term (greater than 5 years) I think REIT's ... | |
| annuities | 4/8/2006 |
| Q: John, Can you explain to me what an income annuity is, I'm 56 and plan on retiring when I'm 62, I ... A: There are 3 types of income annuities: Guaranteed - Income payments remain level for the period of ... | |
| savings accounts vs. mutual funds | 4/5/2006 |
| Q: I was wondering would someone earn more interest by putting money into a savings account or a mutual ... A: Risk and rate of return go hand in hand. Although a savings account is very safe, the long term ... | |
| Consolidation of Student Loan | 4/4/2006 |
| Q: My daughter has already consolidated her loan for the first two years, $8200 at 2.875%. She had ... A: Actually, assuming all the loans are paid off over the same time period, both option are the same. ... | |
| lease vs buy | 2/27/2006 |
| Q: John, I'm considering a new vehicle in the near future. I own two vehicles today, both are paid ... A: If it's OK, I would like to refer you to 2 different website that discuss buying vs leasing since ... | |
| Pension - When to Start | 2/26/2006 |
| Q: I am 55 and still working in my profession full-time and plan on doing so for at least another 5 ... A: Most pension benefits are paid out based on the amount of time you are anticipated to collect the ... | |
| Management Fees | 2/24/2006 |
| Q: Many brokerage firms offer managed investment accounts. The cost to operate or to manage one of ... A: It depends on the services you are getting for this fee. The standard fee is around 1% for ... | |
| Pension withdrawl | 2/16/2006 |
| Q: My wife's defined pension plan was terminated and she now has the choice to withdraw the money. If ... A: The increase in benefit from $491/mo to $825/mo over the next 7 years equates to a 7.7% increase per ... | |
| Loans | 2/9/2006 |
| Q: I have just sold my home and came across a substantial amount of money but I have bad credit. How ... A: If you are looking to take out a small loan to help build up your credit rating, then I would ... | |
| pension distribution decision | 2/9/2006 |
| Q: Because the company my husband worked for was purchased by another company, he was offered and ... A: These are great questions, and situations like this are part of what I help my clients with on a ... | |
| mortgage paydown | 2/9/2006 |
| Q: I am writing in regard to a financial matter in which I am in need of professional advice. I ... A: The financial answer to this question is if you can invest the $$ instead of paying down the ... | |
| tracking capital gains in IRAs? | 2/3/2006 |
| Q: John, thanks for the great info. Just to confirm: (1) So I do not need to keep records of what I buy ... A: You're welcome. Glad I could help. To answer your question,that is correct, there is no need to ... | |
| tracking capital gains in IRAs? | 2/3/2006 |
| Q: I won't be taking distributions from my IRAs for a while. However, I was wondering if I have to ... A: The assets inside of an IRA grow tax deferred until withdrawn, meaning no taxes are due from profits ... | |
| 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: Your rationale makes sense, however, I cannot determine if this strategy makes the most sense in ... | |
| IRA account | 2/2/2006 |
| Q: My wife has a small earned income and we both are collecting S.S. and I am collecting a company ... A: The answer to this question depends on your tax situation. The benefit of adding to the IRA is the ... | |
| retirement | 1/22/2006 |
| Q: I am a 57 yr old postal worker. My wife is a 50 yr old postmaster. I plan to work 5 to 10 more yrs. ... A: The "best way" to invest is always a difficult answer to give on a forum such as this because the ... | |
| 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: I just saw your comments regarding the answer I provided to your question. Thank you for the ... | |
| Termination of IRA | 1/9/2006 |
| Q: John, I'm closing a small IRA (about $2,500k) and I need to decide whether to have Fedral income ... A: Assuming you are already having adequate taxes witheld from W-2 income or through estimated ... | |
| Balance transfers | 12/22/2005 |
| Q: I would like to transfer my current auto loan to a credit card, advertising a transfer APR of 3.5%, ... A: I don't believe banks will allow you to pay off an installment loan balance with a credit card, nor ... | |
| Reverse mortgage | 12/15/2005 |
| Q: Cash flow is the reason. We were told to cut our spending or find additional income to maintain our ... A: I do not think you are wrong in your line of thinking, however, the way to fund this retirement ... | |
| Investment advisory services | 12/13/2005 |
| Q: Please list your opinion of the top 3 or 4 independent individual stock market advisory services. ... A: If you are referring to rating agencies/analysts for indivudal stocks, I apologize, but my area of ... | |
| paying for college | 12/12/2005 |
| Q: John, What I'm getting at is at retirement I'm going to use portions of the sale of my house or dig ... A: Taking money out of your 401k to pay the loans will result in unecessary income taxes since ... | |
| paying for college | 12/12/2005 |
| Q: John, My youngest son is in his first year of college,as of now I am paying off a consolidated ... A: To clarify, is the main question you have how to pay off your portion of your kids college loans ... | |
| Retirement | 12/9/2005 |
| Q: My mother-inlaw is 68 years old and has $400,000 from a life insurance policy . She has nothing else ... A: How she invests this $$ depends on several factors; 1) how much does she need in monthly income from ... | |
| Student loans vs. retirement | 12/5/2005 |
| Q: My basic question is - should I put my money into retirement savings, or to pay my student loans? ... A: There is no specific answer to this question that applies to everyone. The financial answer is if ... | |
| Where to put my money? | 10/20/2005 |
| Q: I have 1.2 million dollars in MMFs and another 500,000 in IRAs. I've lost more in the stock market ... A: The answer to your question depends on your specific goals, risk tolerance, etc, and in a forum such ... | |
| General investment advice | 10/18/2005 |
| Q: I am a 40 year old man with a few tens of thousands of dollars that have been sitting in an ... A: The answer to this question depends on your specific financial situation and your particular goals ... | |
| Investing smart at a young age | 10/12/2005 |
| Q: I am 19 years old and I have little knowledge about investing other than some ways to do it and why ... A: Let me suggest a book called "Get a Financial Life" by Beth Kobliner. This book is geared to the 20 ... | |
| IRA | 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: There are 2 parts to a Roth IRA balance...the contribution portion and the earnings portion. In the ... | |
| equity indexed annuities | 9/22/2005 |
| Q: Would Alliance (a German Co.) be an institution where it would be safe to invest in an equity ... A: Alliance is a financially stable a secure insurance company, so you're investment with them would be ... | |
| UGMA (Florida) | 9/18/2005 |
| Q: 17 years ago I established a UGMA (Florida) account with Vanguard for my grandaughter. The account ... A: Contributions to a UGMA account for the benfit of a minor are considered irrevocable gifts when ... | |
| Investing | 9/14/2005 |
| Q: 1.Does it make sense for a 64 year old, who expects to work at least another 2-3 years, to open up a ... A: Whether or not it makes sense to contribute to a Roth IRA depends on several factors that are unique ... | |
| 2 options | 9/12/2005 |
| Q: Age has clouded my investing smarts so I ask for this tutorial, John" 1.Assume I buy 73K bank bond ... A: The yield to maturity on this bond is 4.77%, with an average duration of 8.5 years. In my opinion, ... | |
| Government Grants | 9/10/2005 |
| Q: finaid.com. There seem to be a lot of information about programs pertinent to education. My wife and ... A: I apologize, when you said grants, I assumed you mean college grants. Unfortunately, business ... | |
| Government Grants | 9/9/2005 |
| Q: What's the viability of Government Grants? Many companies are selling information about grants and ... A: It is true that there is alot of grant $$ that goes unused each year, however, this does not mean ... | |
| 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: That's a great question and I understand your concerns, which I think are valid. How your company ... | |
| 401k rollover | 8/4/2005 |
| Q: Good morning John..I plan to retire at the end of this year..We plan on using my 401k part of our ... A: Regarding your question, you have several options. The first (and most common) is to roll your 401k ... | |
| Saving & Paying | 7/25/2005 |
| Q: I just graduated from college and will soon start my first job in the 'real world'. Not only do I ... A: If it is retirement you are saving for, then I would contribute to your companies 401k to the extent ... | |
| Sell/ liquid. rental condo OR 401K (59 1/2+) | 7/19/2005 |
| Q: What is better choice in California: 1.) sell rental condo, or 2.) liquidate wife's (@ 59 1/2+) 401K ... A: To help clarify, if you sell the condo, any gains realized from the sale will be considered capital ... | |
| Foreign Investing | 7/18/2005 |
| Q: Smith, I haven't made the leap into individual stocks yet and was looking to invest in India through ... A: For exposure to India, I am not aware of one specific mutual fund company that specializes in this ... | |
| Sell/ liquid. rental condo OR 401K (59 1/2+) | 7/17/2005 |
| Q: What is better choice in California: 1.) sell rental condo, or 2.) liquidate wife's (@ 59 1/2+) 401K ... A: From what I gathered from the information you provided, it appears to be a wash financially (appears ... | |
| Financial Planning and Relocating | 7/16/2005 |
| Q: I am hoping that you can give me some advice regarding the following question. My husband and I are ... A: I apologize, but this question is to general in nature for me to answer in a forum such as this and ... | |
| Financial indecision | 6/30/2005 |
| Q: I have 2 checking accounts. I have saved $8,000 in my first checking account. I have $15,000 of ... A: Yes, the online accounts are safe. As long as the account is FDIC insured, it is just as safe as ... | |
| 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: From a financial standpoint, if you can make more than 2.77% on the $15,000, then you would be ... | |
| I need advice on investing | 6/27/2005 |
| Q: John: I am a 45 yr old male with zero savings. As a result of an Insurance Award, I have come into ... A: In my opinion, any amount you feel you will need within the next 5 years, or that you want to be ... | |
| credit | 6/26/2005 |
| Q: My economics assignment is to interview a bank manager or financial planner, but I don't know any. ... A: I would be more than happy to help. Since the assignment was to interview someone, Im not sure ... | |
| finance | 6/21/2005 |
| Q: I'm just wondering, if i can ask you 3 questions about the problems that i'm stuck with? Can you ... A: These questions involve using your fincial calcualtor formula buttons (present value, IRR, etc) to ... | |
| 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 inherited ... A: Sorry for the delayed response. I have been out of my office quite a bit the past couple of days. ... | |
| help | 6/9/2005 |
| Q: My husband and I are in debt. This is the scenario for your input, which follows this intro. ... A: Assuming the credit cards have credit card type rates, you can certainly build the case for using ... | |
| Moving abroad & IRA's/Retirement planning | 6/7/2005 |
| Q: My husband, who is British, and I will eventually move back to England(10+ years). I need some help ... A: I apologize, but seeing as how you plan on moving back to Britain, I am not familiar with how the ... | |
| retirement | 6/5/2005 |
| Q: My wife and I have a disagreement about planning for retirement. We now have our kids college paid ... A: I apologize, but this question is too specific in nature for me to answer in a forum such as this. ... | |
| Financial Planners | 5/15/2005 |
| Q: I have been using the same fee-based financial planner since for the past 6 years at a charge of ... A: In my opinion, the things that are going through your mind are justified and not without merit. ... | |
| investing | 5/7/2005 |
| Q: My husband is 49yrs old. We declared bankruptcy 4yrs ago...so now we are renting. We owned our ... A: I apologize, but the solutions to your above mentioned issues require a much more in depth ... | |
| 529 Education | 4/29/2005 |
| Q: Smith, my name is Melinda. I just received an inheritance and would like to invest some of it into a ... A: My guess is, the 529 plans you have looked at are broker sold, meaning there is a commission being ... | |
| Roth + college | 4/27/2005 |
| Q: I am looking into opening up a Roth IRA there are so many how do I know how to pick one? Also on the ... A: Unfortunately, your questions are too general in nature for me to answer in a forum such as this, ... | |
| Should I refinance my student loan? | 4/19/2005 |
| Q: John I have been paying on a student loan for 7 years. The current payoff balance is $6,000. The ... A: Since you are no longer paying interest, the loan isn't costing you anything each month, so I ... | |
| Hello, Hoping you could... | 3/28/2005 |
| Q: Hoping you could advise me on a reverse mortgage. My wife and I ( age 55 and 54 respectively) are ... A: The following link should be useful in answering your questions about reverse mortgages and whether ... | |
| Rith IRA -> 401K ? | 3/27/2005 |
| Q: I have a Roth IRA acct in mutual funds, but I haven't contributed to it for a while because I'm ... A: Actually, transferring a Roth IRA to a 401k is not allowed. However, even if it was, it would not ... | |
| 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: I apologize, but the answer to that question requires a much more in depth converstion than can be ... | |
| Financial Aid for College | 3/11/2005 |
| Q: I'm scared I won't be able to afford college. Right now i'm a junior in high school. My grades are ... A: Im sorry, but the specific area of college scholarships is outside of my area of expertise. I would ... | |
| estate/will/probate courts | 2/28/2005 |
| Q: ..Thank you in advance for taking the time to answer my question. My Father recently recieved what ... A: There are essentially 3 ways assets pass at : by will, by title and by beneficiary designation. A ... | |
| Financial Planning | 2/21/2005 |
| Q: My wife and I are a couple in our 30's, with one 19month old daughter. We interviewed several ... A: In my opinion, for college savings, a 529 plan makes more sense. Depending on your specific state ... | |
| RRSP or Mortgage | 2/8/2005 |
| Q: I'm a little unsure whether I should be putting extra money on my mortage or use that money for ... A: I apologize, but there is no universal answer to this question that applies to everyone. ... | |
| Federal non-reportable information | 2/2/2005 |
| Q: Smith, I'm feeling a little anxious while looking at my Federal non-reportable information on my ... A: I apologize, but I can't be certain what this means based on the information you have given me. ... | |
| 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: Yes, you can contribute to both, subject to the normal Roth IRA contribution rules. Assuming you ... | |
| Need immediate help! Panic!!! | 1/29/2005 |
| Q: I have a closing date that is about 3 days away, the thing is that this is a refinance with cash out ... A: Im sorry, but without knowing in much greater detail your financial situation, I cannot offer advice ... | |
| m.mkt. substitute | 1/29/2005 |
| Q: In Sept you advised me that Vang Short Term Corp Bond Fund (now Short Term Investment Grade could be ... A: It is highly unlikely there is much of a tax consequence with selling your position in the Short ... | |
| Debt Reduction | 1/28/2005 |
| Q: Mr. Smith: I have several Loans and bills I am trying to payoff. Also, I have a fixed amount that I ... A: Without knowing the amount of each loan, interest rate, and repayment terms, it is tough for me to ... | |
| Annunities | 1/28/2005 |
| Q: My situation is that I am 48 years old and this will basically be all the money I will have to live ... A: If getting paid the highest interest is your only goal, then I am not sure an annuity is the best ... | |
| Annunities | 1/24/2005 |
| Q: I may be getting close to a million dollars soon and would like to put it into an annuity so that I ... A: Unfortunately, with the amount of $$ you are talking about, I would not feel comfortable making a ... | |
| retirement funds withdrawal | 1/22/2005 |
| Q: I work for the NYPL and am part of the NYS Retirement System. At this point, I have been "vested" ... A: Any contribution made on your own behalf are immediately vested. Only the employer contributions ... | |
| 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: First, let me say that I am not an estate attorney, so if you are seriously contemplating this ... | |
| retirement - FL vs CA | 1/20/2005 |
| Q: My wife and I are residents of CA and contemplating retiring in CA or FL. We understand the tax ... A: I apologize, but that is a better question for an estate attorney. I practice out of Illinois, and ... | |
| capital budgeting | 1/12/2005 |
| Q: I was recently looking through a finance book and attempted this question below, however i don't ... A: I apologize for the dealyed response. I've had a hectic few days. Regarding your question, ... | |
| 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: Unfortunately, there is no universal right or wrong answer that applies to everyone when deciding on ... | |
| Should i sell to pay off dept? | 12/9/2004 |
| Q: my question is, should my husband and I sell our rental apartment to pay off our credit line dept? I ... A: Sorry, but without knowing in much greater detail the piece of property you are considering, I ... | |
| Financial Planning | 11/23/2004 |
| Q: I have a number of long term investments, but no overall financial plan. Whenever my wife and I ... A: There aren't industry specific standards per se. However, the CFP credential is a well known and ... | |
| Investment | 11/22/2004 |
| Q: ------------------------- I have got no company to manage, I want some sort of portfolio before I ... A: Is there any particular reason you only want to invest in a Balanced Fund, Global Fund and Equity ... | |
| what shoud i do | 10/28/2004 |
| Q: I have 60,000 in cash, 60,000 in 401k, 30.000 invested in the stock market, and I have a 58,000 ... A: Im sorry, but your question is too general in nature for me to answer without knowing in much ... | |
| why pay fee for financial management | 10/25/2004 |
| Q: Financial managers all seem to charge about 1% to manage investment accounts and to allocate assets ... A: This is a difficult question for me to answer because different firms offer different services for ... | |
| Retirement | 10/18/2004 |
| Q: Im a 37 year old male with no retirement investment plans as of right now..I could place 100 to 150 ... A: The specific fund you choose to invest in and the type of account to use is entirely based on your ... | |
| Investment | 9/13/2004 |
| Q: my relative has a lump sum of £50,000 that has just matured in a bond. Could you advise him of the ... A: With that being said, for no-nonsense approach to low risk and safety of principal, I would invest ... | |
| Vang Short Term Investment Shares (0039) | 9/12/2004 |
| Q: Age 85. 80% portfolio in high rated bonds avg 6% long term. As holding tank have used m.mkt at about ... A: I checked the Vanguard website and it looks like the money market rates vary, depending on which ... | |
| Insurane / Mutual funds | 9/12/2004 |
| Q: I am 25 and I'm wondering if I should invest in whole life insurance? Or if I should get term life ... A: The answer to this question is rarely as straightforward as it may seem. Unfortunately, due to the ... | |
| criteria to hire a planner | 9/11/2004 |
| Q: My discount brokerage has recommended 2 cfp firms which I plan to interview next week. Both work on ... A: If you visit the following website, there is great guidance on choosing a fee only planner. ... | |
| saving for the future | 7/19/2004 |
| Q: i guess "most" would be defined as getting a good return with a lower risk of losing his principal - ... A: There are pro's and cons's with the various ways to save for college. In most cases, a college ... | |
| Endowments | 7/18/2004 |
| Q: I am considering giving an endowment to my daughter's alma mater. I have heard that there are ... A: Im not sure of your exact question. However, if you are inquiring about the types of gifts you can ... | |
| saving for the future | 7/17/2004 |
| Q: ..i'm looking to get the most out of my son's savings...he still has about 12 years of saving left ... A: Before I can answer this question, can you please further define "most". What are your specific ... | |
| Investing in tax-exempt municipal bonds | 7/16/2004 |
| Q: in answer to your questions, all the bonds are AA or AAA, none more than seven years or less. Thank ... A: The biggest decision to make with your portfolio is how much to have in each asset class (cash, ... | |
| Investing in tax-exempt municipal bonds | 7/15/2004 |
| Q: A little background; I'm 78 years old, retired and have a bit over 200,000 invested in tax-exempt ... A: Whether or not this makes sense for you would require me to know in much greater detail you overall ... | |
| Credit Reports | 7/7/2004 |
| Q: I'd like to obtain my credit report and score, and I wanted to know if there's any benefit to ... A: Since different lenders, etc, use different credit agencies, it is very possible that each credit ... | |
| financial planning | 7/6/2004 |
| Q: I'd like to get started with a financial plan, but I'm quite in debt, and it makes me feel like I ... A: One thought that comes to mind is to considering hiring a fee only planner that will work with you ... | |
| Is Real Estate the next Area for Investment? | 7/5/2004 |
| Q: Is real estate the next investment area for me to diversify into? If so land, home rentals, or ... A: however, it is very difficult to properly assess whether or not an investment in real estate makes ... | |
| Bonding | 6/30/2004 |
| Q: John, she has been totally understanding with any hesitancy I have, and wants me to be as ... A: In my experience, your hesitancies are normal and I wouldn't feel guilty about it. You hear the ... | |
| Bonding | 6/29/2004 |
| Q: John. If that's the case, then what does a client do to feel comfortable about giving someone ... A: When you say "access", do you mean actual access to the money in the bank accounts, or just access ... | |
| College Savings Options | 6/27/2004 |
| Q: John, I was wondering if you could help me decide about the various college savings options that I ... A: The specific type of college savings account that is best for your specific situation can vary and ... | |
| Contemplating Bankrupcy? | 6/18/2004 |
| Q: I am considering filing for Chapter 7 bankrupcy; however, prior to consulting an attorney I intend ... A: I apologize, but am not very familiar with bancruptcy laws, therefore, cannot not offer much in the ... | |
| saving | 6/6/2004 |
| Q: My daughter is going to college in September 2005. I was thinking of not contributing to my 403b for ... A: The only way I can accurately answer this question would be to talk to you in more detail about all ... | |
| 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: In order to correctly answer this question, what is the anticipated cost per year for your daughters ... | |
| CFP | 4/19/2004 |
| Q: I am interested in becoming a CFP. I was hoping you would answer some questions in regard to that ... A: It is first important to realize that in order to use the CFP trademark, once you have completed the ... | |
| Pay down student loan debt or buy a home? | 3/31/2004 |
| Q: Recently I relocated to DC and sold my condo in NJ. O do not intend on staying in DC for more than ... A: I apologize, but the questions you have listed are far too many and far to general to answer in a ... | |
| Nonqualified Annuity | 3/31/2004 |
| Q: I am 43 yrs old and opened a non qualified annuity in 1998 with $8500, it is now only worth $9100. ... A: The insurance company is in a better postion to tell you what the tax consequenses will be since a ... | |
| Retirement planning | 3/26/2004 |
| Q: Can you please explain how you got the amount as answered in the statement: "For example, if you ... A: Your calculation assumes the balance would yield 6.6% each year, therefore generating the $40k per ... | |
| Property | 3/25/2004 |
| Q: I am about to sell my home and move to an area that has a much cheeper cost of living. My husband ... A: Unfortunately, there is no one answer that is right for everyone regarding this question. It really ... | |
| 529 Plan | 3/16/2004 |
| Q: I invested in a 529 Plan shortly after my 6-month-old son was born. It is California's "Golden ... A: Investments in a 529 plan do count as assets of the child, so, for financial aid qualification ... | |
| UGMA transfer to annunities | 3/16/2004 |
| Q: My youngest daughter has an UGMA invested in mutual funds. This will hurt any chances she will get ... A: Is the suggestion you received to transfer the $$ to a retirement annuity in your name? If so, ... | |
| Stretch IRA | 3/11/2004 |
| Q: -------------------------Thank you, I did copy the ML pages on Stretch IRA. Not sure if I need to ... A: Your specific bequest desires will determine how you should name the beneficiaries. You are correct ... | |
| 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: The following link has a fairly straightforward description of stretch IRA's. Please read this and ... | |
| 401 and buy house | 3/3/2004 |
| Q: ... I need your advice ... I would like to buy a house soon and I don't know if could be a good idea ... A: First, it is important to realize that you can only borrow up to 50% of your vested balance in the ... | |
| What to do with large sums of money currently in savings. | 2/23/2004 |
| Q: My girlfriend and I have over $50k in savings and checking accounts. We've work hard over the past ... A: Unfortunately in todays low interest rate environment, it is extremely difficult to achieve much in ... | |
| Retirement | 2/20/2004 |
| Q: I am due to come into approx. £50,000 and would like to invest it for my retiremnt I am 53 and would ... A: Unfortunately, how to "best" invest your money is based on more specific circumstance regarding your ... | |
| Plans for my grandchildren and my retirement | 2/19/2004 |
| Q: 1)What is the best plan to provide something for my grandchildrens future? I don't think I'm ... A: Unfortunately, in a forum such as this, it is hard for me to answer specific questions that attempt ... | |
| Where to invest | 2/18/2004 |
| Q: I am in a quandary. I will have about 50K to invest in 2 months. Should I pay down investment rental ... A: If the only way you would not payoff the debt is by being able to earn 15% a year, then I would ... | |
| FICO | 1/23/2004 |
| Q: Short question, someone told me that everytime you have your credit report run, it lowers your FICO ... A: I do know that each time your credit report is run, this does have a negative impact on your credit ... | |
Personal Investment & Financial Planning Q`s
Answers by Expert:
John D Smith, CFP
Top Expert on this page
Expertise
I can answer detailed questions regarding mutual fund investing, retirement planning, education planning and related financial planning/investment issues. I have a B.S. degree in Financial Planning & Counseling. I am also a Certified Financial Planner (CFP) and have performed fee only investment management and financial planning services for the past 11 years.
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