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 was permanently laid off in February of this year. I will be 50 in November. I was offered a chance to take my retirement in a lump sum (75K) and I also have a 401(k) of about 22K. My spouse will also be 50 this year and has a retirement. I am not financially secure as I have some debt totalling about 10K. I would like to take the lump sum - perhaps putting it in a CD or several CD's without any tax ramifications. I'd also like to be able to get to money if I needed it - which I am sure I will. Any advice will be greatly appreciated.
Tina
Answer Tina,
If you take your retirement in a lump sum, it will all be taxable income, and will likely push you into higher tax brackets, and because of your age, may also subject you to early withdrawal penalties (though there are exceptions according to the IRS publication 575.)
It is quite possible that if you have all of this money you will be tempted to spend it. I recommend making a budget and a plan for paying off the debt, and when the debt is then paid off, you'll have a little extra money in your budget for other things.
I would do this: roll the money along with your 401k money into an IRA in which you can buy CDs as well as other types of investments.
