| Subject | Date Asked |
|
| 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 ...
|
