AllExperts > Retirement Planning 
Search      
Retirement Planning
Volunteer
Answers to thousands of questions
 Home · More Retirement Planning Questions · Question Library  · Free Encyclopedia ·
More Retirement Planning Answers
Question Library

Ask a question about Retirement Planning
Volunteer
Experts of the Month
Expert Login

Awards

About Us
Tell friends
Link to Us
Disclaimer

 
 
 
About David M Iannopollo
(Top Expert on this page)

Expertise
I am a professional financial advisor who can assist you with answers on mutual funds, annuities, IRA's, rollovers, qualified and non-qualified retirement plans, retirement planning, educational planning, life, disability and LTC insurances.

Experience
I have over 20 years experience in the business and financial world.

   

You are here:  Experts > People/Relationships > Retirement Planning > Retirement Planning

SubjectDate AskedExpert

401K withdrawal due to Seperation of Service11/18/2009David M Iannopollo
  Q: My husband was laid off in December 2008 but received severance payments well into 2009. He turned ...
  A: Sorry about your husband's layoff. The rule you are speaking of states that an employee must be 55 ...
mortgage11/16/2009Richard E. Reyes, CFP
  Q: For the long term, would it be better to prepay on one's mortgage or pay the required minimum amount ...
  A: Paul thanks for your question. Hope I can provide some insight for you. Paul your last sentence ...
Retirement planning with 3rd party sick pay11/13/2009David M Iannopollo
  Q: I receive LTD payments (3rd party sick pay) under a policy my employer paid for. The income is ...
  A: Since you have nothing that is considered "earned income" by the IRS, you are correct that you are ...
Immediate Annuity11/13/2009David M Iannopollo
  Q: I want to retire in three years when I have 520000 in my 401. My house is free and clear and I have ...
  A: 1) Yes, the internal rate of return is not that great inside of an immediate annuity. While you are ...
erisa defined benefit plan11/11/2009Willard R. Brumbaugh, LUTCF
  Q: Is there a prohibition against the plan beneficiary paying cost of maintenance for the plan and then ...
  A: If I understand your question correctly, for those plans with which I am familiar, administration ...
Immediate Annuity11/10/2009David M Iannopollo
  Q: I want to retire in three years when I have 520000 in my 401. My house is free and clear and I have ...
  A: If you don't care about leaving anything behind and do not want access to or control of your ...
IRA's11/9/2009Willard R. Brumbaugh, LUTCF
  Q: I am 26, and thinking about opening an IRA. Do I just go to any of my local banks? I plan to do a ...
  A: I commend you for thinking long-term. By starting now you gain the advantage of compounding interest ...
Early Retirement11/6/2009Willard R. Brumbaugh, LUTCF
  Q: My sister is 63 and looking ahead to plan for an early retirement. She is not sure who to talk to ...
  A: The short answer is me. For the record, I am now licensed in seven states. The most recent is ...
Early Retirement11/6/2009Lic.Gregory Kearney Lawson
  Q: My sister is 63 and looking ahead to plan for an early retirement. She is not sure who to talk to ...
  A: She can talk to a retirement specialist at a social security office or bank. I can help you if you ...
Early Retirement11/6/2009Aaron Hall
  Q: My sister is 63 and looking ahead to plan for an early retirement. She is not sure who to talk to ...
  A: If she is a do-it-yourselfer, she can read lots of books that discuss retirement income planning. Or ...
Early Retirement11/6/2009David M Iannopollo
  Q: My sister is 63 and looking ahead to plan for an early retirement. She is not sure who to talk to ...
  A: I guess it would really depend on the amount of assets she has and how complicated her needs may be. ...
Early Retirement11/6/2009Josh Elliott
  Q: My sister is 63 and looking ahead to plan for an early retirement. She is not sure who to talk to ...
  A: She needs to speak with a retirement planner who can take a look at her situation, run some ...
Roll over into real estate11/4/2009David M Iannopollo
  Q: I have funds totaling approximately $350,000 in 401Ks 403Bs, IRAs etc. These are my personal funds. ...
  A: Purchasing real estate inside of an IRA requires you to open a "self directed IRA". This is not ...
Conveting MPP to 401(k)10/29/2009Willard R. Brumbaugh, LUTCF
  Q: Are there any tax penalties for converting from an Money Pension Purchase to a 401(k) for an S corp ...
  A: It appears that you may have been asking the wrong questions. If you mean a Money Purchase Plan, ...
Conveting MPP to 401(k)10/27/2009Willard R. Brumbaugh, LUTCF
  Q: Are there any tax penalties for converting from an Money Pension Purchase to a 401(k) for an S corp ...
  A: Can you give me more information? What do you mean by Money Pension Purchase? What is your ...
401b10/26/2009David M Iannopollo
  Q: I am recently retired, 60 years old and have a 403b of about $25,000. I would like to move this ...
  A: 403b's are eligible for rollovers, however, since a 403b is funded with pre-tax contributions and a ...
excess roth IRA contribution10/22/2009David M Iannopollo
  Q: Both my husband and I made a genuine error. In April 2009 we each contributed the max for us to an ...
  A: First off, please realize that I am not an accountant so this would not be my area of expertise as I ...
rollover LPL10/22/2009Richard E. Reyes, CFP
  Q: i met with a financial advisor who is affiliated with the credit union at my previous employer for a ...
  A: Stan, thanks for asking your question. Hope that I can provide you a little peace of mind. When it ...
401K10/22/2009Willard R. Brumbaugh, LUTCF
  Q: I am 55 years old. I was laid off almost 1 year ago, I left my 401K intact $200,000,00. What is the ...
  A: On the basis of no current income, I suggest that you have two IRAs. Specifically, $50,000 in a ...
401K10/22/2009Willard R. Brumbaugh, LUTCF
  Q: I am 55 years old. I was laid off almost 1 year ago, I left my 401K intact $200,000,00. What is the ...
  A: You most certainly should transfer your funds to an IRA. As to which IRA or IRAs, I need more ...
401K rollover to IRA10/21/2009David M Iannopollo
  Q: I am over 59 1/2 and on Social Security disability. I also have a small 401K (>15K) from a previous ...
  A: I cannot find your specific situation on the SS website, but I do not believe you would be affected ...
401K withdrawals10/21/2009Willard R. Brumbaugh, LUTCF
  Q: My husband has a 401K plan that we need to make withdrawals from or close out. He was diagnosed ...
  A: At one time a person could "retire" at 55 and get 401(k) distributions penalty-free. I wanted to see ...
401k aftertax rollover into Roth IRA10/20/2009David M Iannopollo
  Q: Is it advisable to rollover the portion of a 401k contributed aftertax into a Roth IRA next year, or ...
  A: If you don't need these funds or will face early withdrawal penalty you will probably want to ...
cashing out whole life insurance10/20/2009Josh Elliott
  Q: My husband is changing jobs where he has a whole life insurance policy that he has paid into for 18 ...
  A: Without knowing the exact specifications of the policy, it is somewhat difficult to analyze, but in ...
401K10/15/2009Richard Fritzler
  Q: I am 75 1/2 and will retire October 30, 2009. I intend to set up quarterly disbursements from my ...
  A: If by "qualified IRA" you mean one that can make a charitable non-taxed contribution, yes. But. . . ...
401K Loan Default Error10/13/2009Willard R. Brumbaugh, LUTCF
  Q: ILLINOIS -- I was downsized in early June 2009 with an outstanding 401K loan balance of $7,600. On ...
  A: I'm not a lawyer, but it looks like you might have to sue the persons that told you that you had ...
Rollover to Roth IRA10/11/2009Willard R. Brumbaugh, LUTCF
  Q: What would be the procedure to cash in whole life insurance policy & rollover to Roth IRA?
  A: What you have described are two separate actions. Roth IRAs, just as traditional IRAs, require ...
Retirement Insurance?10/10/2009Richard E. Reyes, CFP
  Q: I am a 41 year old male who works for an employer who only offers the 401K program for individuals ...
  A: Thomas, thanks for taking your time to ask me this question. I would tell you that you do not need ...
403B to IRA10/8/2009David M Iannopollo
  Q: My employer provided access to a 403B account which I participated in and had borrowed funds which I ...
  A: Because your 403b plan has been terminated it will be treated as if you had left your job in that ...
403 B early withdrawal10/6/2009David M Iannopollo
  Q: Due to a loss of my wife's employment with a private college(her position was eliminated)this ...
  A: You are referring to the "separation of service rule" which states that a person may take early ...
should we get married?10/6/2009Willard R. Brumbaugh, LUTCF
  Q: We are domestic partners in California. Next year we will both be receiving social security as our ...
  A: As an unmarried individual your partner would only have his $800 per month should you pass away ...
401k over-funded for 200910/1/2009David M Iannopollo
  Q: I changed jobs this year. At my 1st employer, I contributed $13,000 (in 2009) to a Roth 401k. My ...
  A: Yes, you are correct in assuming the IRS won't allow you to over contribute! Fortunately you've ...
giving to children10/1/2009Lic.Gregory Kearney Lawson
  Q: My mother has a lot of money and she is starting to think of giving some to her chidlren. How much ...
  A: I am not sure in the USA, because I specialize in Costa Rica however, I believe distributing it when ...
gifting10/1/2009Richard E. Reyes, CFP
  Q: My mother has a lot of money and she is starting to think of giving some to her chidlren. How much ...
  A: Dan thanks for your question. Hopefully I can give you a little help. What I would first say is that ...
parent's gifts10/1/2009David M Iannopollo
  Q: My mother has a lot of money and she is starting to think of giving some to her chidlren. How much ...
  A: Your mother can make an annual gift of up to $13k to each individual without any tax consequences. ...
husband turned 70 in october of 20089/30/2009Willard R. Brumbaugh, LUTCF
  Q: My husband turned seventy in October of 2008, I think his first distributions on his IRA would have ...
  A: The rule is the first distribution must be no later than the calendar year following the year that ...
Retirement - Lump Sum9/30/2009Aaron Hall
  Q: I was permanently laid off in February of this year. I will be 50 in November. I was offered a ...
  A: Tina, If you take your retirement in a lump sum, it will all be taxable income, and will likely ...
husband turned 70 in october of 20089/30/2009Willard R. Brumbaugh, LUTCF
  Q: My husband turned seventy in October of 2008, I think his first distributions on his IRA would have ...
  A: It looks like you have until April 2010 to start the withdrawals. But if this conforms to previous ...
Full Withdrawal of IRA at 87 years old9/28/2009Willard R. Brumbaugh, LUTCF
  Q: I am in the process of transferring my mom's IRA into her checking account to help pay for her care. ...
  A: Her age has no influence on the tax status of her IRA. I believe that you might be wise to move only ...
Full Withdrawal of IRA at 87 years old9/28/2009David M Iannopollo
  Q: I am in the process of transferring my mom's IRA into her checking account to help pay for her care. ...
  A: I'm sorry to hear of your mom's condition. Traditional IRA withdrawals are fully taxable as income, ...

Page:   1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10  |  Next      All


Questions by
Active Experts:
David M IannopolloJosh ElliottAaron Hall
Richard FritzlerWillard R. Brumbaugh, LUTCFRichard E. Reyes, CFP
Lic.Gregory Kearney Lawson  

Email this page
     
User Agreement | Privacy Policy | Kids' Privacy Policy | Help
Copyright  © 2006 About, Inc. AllExperts, AllExperts.com, and About.com are registered trademarks of About, Inc. All rights reserved.