AboutAaron Hall Expertise I can answer questions regarding asset allocation, investment selection, investment managers, hedge funds, investment expenses, most common tax shelters, retirement accounts.
Experience I have worked with MetLife Financial Services, Ameriprise Financial, and Merrill Lynch. I also manage millions in client assets, though I am not actively searching for more clients, and I do not accept commisions for financial products.
Organizations Financial Management Association
Education/Credentials I am in the process of attaining my Ph.D. in Finance with a support area of econometrics, and have a bachelors degree in Finance with a concentration in Real Estate from Florida State University.
Education
Florida State University, Tallahassee, FL
Ph.D. in Finance, pending
Florida State University, Tallahassee, FL
B.S. in Real Estate and Political Science, Spring 2002
Related Industry Experience
Merrill Lynch, Financial Advisor with Merrill Lynch, with $3,000,000 in assets on the books, $2,000,000 of which was fee based, where clients followed specific portfolio recommendations based on optimized portfolios tailored to risk tolerance and goals, 2006-2007
Independent, Financial Planner, continuing to work with select clients, 2005-2006
MetLife, Financial Services Representative, Selling Life Insurance and Annuities, 2003
Guernsey and Associates, Boutique Financial Planning Firm Internship, Selling Life Insurance and Fee-based Financial Plans, Fall 2002
Honors and Awards
College of Business Ph.D. Fellowship/Assistantship
College Teaching Fellowship Award
Full Undergraduate Academic Scholarship at FSU
National Merit Scholar Award
Question I will be 59 1/2 on July 15th of this year. I would like to have the interest from my IRA accts (not the principle)sent to me by check monthly. Can I have a check sent to me (to avoid the 10%penalty) as early as the 16th of July even though the interest reflects earnings that occurred prior to my reaching 59.5? Also, if I take the interest in my IRA's and then next year decide to have the bank compound my interest (in other words stop taking the interest)is that allowed. Will I get a 1099INT next year if I don't take the interest in my IRA? I am just concerned that once Istart taking the interest I must continue to do it and continue to pay taxes on it. I know that what I am trying to say is confusing, so if you don't understand what I am asking please let me know.
Thanks,
Gary
Answer Mr. Gary,
It matters not to the IRS when your money earned you interest, all that matters is when the money crosses that invisible barrier between your account and you.
I believe your retirement account distributions will come on a 1099R as opposed to a 1099INT.
Your concern about needing to continue to take money from your account stems from a special rule to allow people to access their money BEFORE they turn 59 1/2, so it doesn't apply to you.
As to arrangements for distributing interest versus principal, you'll need to ask your custodian how you might arrange that. They may be able to specifically accomodate your request, or they may only be able to send a prespecified amount monthly.
I recommend instead of a check in the mail, to have the money direct deposited to your checking account, to reduce the chance of someone intercepting your check in the mail.
If this doesn't answer your questions, feel free to ask a follow up question. Good luck,
