| Subject | Date Asked |
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| mortgage | 11/16/2009 |
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 ...
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| rollover LPL | 10/22/2009 |
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 ...
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| Retirement Insurance? | 10/10/2009 |
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 ...
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| gifting | 10/1/2009 |
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 ...
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| Full Withdrawal of IRA at 87 years old | 9/28/2009 |
Q: I am in the process of transferring my mom's IRA into her checking account to help pay for her care. ...
A: Loretta, thanks for your question. Keep in mind that I am not your CPA or tax preparer so the ...
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| CFP | 9/18/2009 |
Q: In a target-benefit plan, what determines the amount of retirement benefit a participant will ...
A: Marie, thanks for your question. A target benefit plan is different from a defined benefit plan in ...
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| IRS definition of retirement | 9/1/2009 |
Q: I understand that I can take money out of my 401 after age 55 (and before 59 1/2) if I am retired. ...
A: Ron, thanks for your question. Hope this helps. You can make penalty-free withdrawals from a 401(k) ...
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| IRA Accounts | 8/27/2009 |
Q: I know someone who inherit IRA monies because of the death of a love one. She is over 60, She can ...
A: If non-spouse individuals are named as beneficiaries each will be required to take distributions ...
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| withdrawal from IRA to pay bills | 8/17/2009 |
Q: I am 57 and what is left of my retirement funds is about $150K in an IRA. I am going through a ...
A: I appreciate the opportunity to hopefully give you some advise. The only issue that I have with ...
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| social security | 8/14/2009 |
Q: I am a 58 year old woman working full time in a low paying job, i just got a divorce from my 54 year ...
A: Brenda thanks for your question. Here's some good news about your divorce! If you were married to ...
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| Long term care | 8/13/2009 |
Q: Given the following scenario, would you advise the purchase of long term care insurance? Husband ...
A: Dave, thanks for your question. Lets be simple about this. Long-Term care insurance is an insurance ...
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| ROTH IRA | 7/31/2009 |
Q: I have a roth IRA account for 5 years and used to make my contribution around the April 15th of ...
A: Your question is better asked to a CPA since this is their expertise. At the very least I would ...
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| Withdrawal of retirement lumpsum rollovers | 7/22/2009 |
Q: Retirement funds have to be distributed by 70 1/2. To avoid having to pay taxes at this time, ...
A: Eleanor, thanks for your question. I believe you might be a little confused. What is required to ...
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| Retirement | 7/19/2009 |
Q: Me & my wife retired almost a year ago from the same state (Texas)agency and have a set gross income ...
A: Steve, thanks for your question. Unfortunately, It is impossible to answer your question in a ...
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| still working exception | 7/13/2009 |
Q: This was your answer to a previous person's"You are right. This is the "still working exception" for ...
A: For those who have 401(k)s or other employer plans (not IRAs, self-employed plans or SIMPLEs), your ...
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| Retirement 59 1/2 | 7/3/2009 |
Q: I worked at a company for 10 years, at 59 1/2 can I start getting that money although I am out of ...
A: Hope that I could be of service to you. The fact that you worked at a company for 10 years in this ...
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| Retirement--Roth IRAs | 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: Nikki, thanks for your question. Hopefully I can give you a little help with my answer. First a ...
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| Revocable Living Trust | 5/24/2009 |
Q: Revocable Living Trust Under what conditions would you recommend that a person get a Revocable ...
A: Steven, good question although I am not sure that this should go to me but rather and estate ...
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| 401k as part of divoirce settlement | 5/21/2009 |
Q: MY SISTER IS GETTING HER HUSBAND'S 401K AS HER DIVORCE SETTLEMENT, SHE WAS PLANNING ON BUYING A ...
A: Cecelia, thanks for your question. I have answered this previously and there is an easy solution. ...
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| Roth IRAs | 5/18/2009 |
Q: My wife and I invest in Roth IRAs through a financial planner. He has my wife invested in American ...
A: Matt, thanks for your questions. I hope I can give you some guidance. You have a couple of issues ...
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| roth ira establishement date | 5/10/2009 |
Q: I understand that a roth ira can be established for calendar 2008 if 2009 tax return was not yet ...
A: I hope that I can help you with your question. In reference to the first part of the question I ...
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| Rolling over pension payments into IRAs | 4/20/2009 |
Q: I am just shy of my 61st birthday and have been retired for a year from a government job from which ...
A: John thanks for your question. Hope that I can help. The straight answer is "NO" you may not ...
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| SEP Distribution | 4/4/2009 |
Q: We would like to take out some funds from a SEP plan (not IRA) to cover education costs for our two ...
A: Yes, you can avoid the 10-percent tax penalty on early distributions from an IRA when you are paying ...
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| IRA Contributions | 3/23/2009 |
Q: May anyone make an IRA contribution on my behalf? I have $26,000 of earned income this year. My ...
A: Amy, thanks for your question. You must make YOUR OWN IRA contributions as long as you have earned ...
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| paying for medical expenses | 3/21/2009 |
Q: I am caring for my ailing husband at home. Our Long Term Care insurance pays for four hours of Home ...
A: Gloria, thanks for your question and I hope I can help. Gloria, if you need to tap into your ...
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| Best IRA investments after 70 1/2 | 3/19/2009 |
Q: I was required to take an initial RMD for 2008, and at the time rolled over an employers' 401k plan ...
A: Sarah, thanks for your question. Hope I can help. Based on the information you provided, I would ...
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| Need advice about 403Bloans please | 3/17/2009 |
Q: Can anyone give me some advice on what to do here. I know this will sound really irresponsible but I ...
A: Michelle, thanks for your question. I hope that I can help. Sometimes the investment company for ...
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| SEP withdrawal | 3/15/2009 |
Q: I am a 66 year old single female, trying to eek out a living in real estate. Last year, I had to ...
A: Susi, thanks for your question. Tough being a real estate agent these days. However, don't let the ...
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| RMD | 3/13/2009 |
Q: No RMD is required for tax year 2009. Assuming all "things being equal" would a $50000 withdrawal be ...
A: Ralph, Thanks for your question. This is a no brainer. Absolutely from a taxable account. Would you ...
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| Selling my funds to lock in cap loss and then buying another fund with similiar objective | 3/8/2009 |
Q: Reyes, I invested in Vanguard Windsor a few years ago. Is it persmissible for me to sell my ...
A: As far as the sale of the Vanguard Windsor to buy Vanguard Windsor II, I would see absolutely no ...
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| Pension roll over into IRA | 3/1/2009 |
Q: My wife is changing companies and we would like to know if we should keep her $180,000 pension with ...
A: Hope I can help. If you are an employee who has terminated employment with a company or an ...
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| Over 70 1/2--Wants More Tax withheld | 2/21/2009 |
Q: My wife is over 70 1/2 and has a Fidelity IRA. She must make an annual withdrawal and some ...
A: Nighttrain, very good question. And very nice name. I would venture to guess that because of your ...
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| pensions | 2/16/2009 |
Q: "I understand or believe I understand once you retire and recevie your pension it is guaranteed and ...
A: Lee good question. Thanks for your time. I will tell you that the answer to your question is "yes" ...
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| lump sum/ taxes | 2/12/2009 |
Q: Recently retired took lump sum and got taxed on that, Now when filing my taxes (gov't/ state) trying ...
A: Jay thanks for your question. You are not getting taxed twice. When you took your lump sum ...
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| keogh plan | 2/9/2009 |
Q: My dad is 80, he had his own sole proprietor business, and has a keogh money purchase and profit ...
A: Sue, thanks for your question. Basically what is happening here is that the custodian for your dads ...
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| IRA | 2/5/2009 |
Q: Just over a year ago, I opened an IRA with an aggressive risk tolerance and a “sales load of 5.49%.” ...
A: Chris, thanks for your question. First what the 5.49% sales load means is that someone got a ...
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| Calculating Net Worth | 1/27/2009 |
Q: I have a 401k that I have borrowed against. If I have $25000 in the account with a $12000 loan on ...
A: Well there are two ways you can look at it and really at the end of the day it will come up the same ...
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| 403b to index annuity | 1/10/2009 |
Q: I am 58 years old and retiring after 35 years as an educator. I have money in a 403b and need to ...
A: ABSOLUTELY NOT. RUN, RUN, RUN as far away as you can from this guy. This is an insurance agent who ...
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| long-term savings | 1/7/2009 |
Q: why is it a potential problem if long-term savings are too low?
A: Happy New Year Demetra and thanks for your question. This one is quite simple. Lets define what ...
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| recesssion | 12/28/2008 |
Q: reyes im married with 2 kids and living in shreveport louisiana and i work and wife 2. With this ...
A: Antoine, thanks for your question. Antoine, this is a loaded question as you might imagine. In ...
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| Rollover IRA vs IRA | 12/18/2008 |
Q: is there any rationale to continue to have segregated IRAs due to portability laws now in effect? i ...
A: Ralph, thanks for your question. This is a preference question vs. anything else and you will ...
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| retirememt accounts | 12/6/2008 |
Q: I contribute the maximum yearly to a 401K from my employer. Recently I have been earning a ...
A: Jane, thanks for your questions. That is great to hear that you are doing well in your business. I ...
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| mortgage insurance | 12/5/2008 |
Q: My father-in-law passed away in 1988. We recently found an insurance policy on the mortgage loan. ...
A: Good question and this is beyond my level of knowledge. However, common sense would lead me to ...
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| real estate trust | 11/23/2008 |
Q: Mr. Reyes: Could you kindly explain the advantages and mechanics of how living trusts work. I ...
A: First of all, please do not take the information you find on this forum, any other forum, radio ...
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| Social Security | 11/18/2008 |
Q: I am 64. I wanted to hold off taking my Social Security till I am 67. My hours have been cut back ...
A: Ginny, I like the way you think outside the box. However, the answer is NO. You see you are only ...
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| starting / deciding about retirement plan | 11/11/2008 |
Q: Richard, Here is a "big" question for which probably there is no definite answer. But any ...
A: Well you are right about a definite answer.It is obviously difficult to plan out your entire life ...
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| contributions to 403 K | 11/8/2008 |
Q: I am 60 years old. I contribute the maximum to my 403 K and my employer contributes 10%. I have ...
A: Welcome to the club, everyone has lost a lot on paper. Many have lost, panicked, and sold. So those ...
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| Retiring next month | 10/4/2008 |
Q: My wife is retiring from the state of Florida next month. She will be getting approximately $170,000 ...
A: Congratulations on your upcoming retirement. I am also here is Orlando, Florida and I guess the best ...
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| Required Minimum Distribution | 9/17/2008 |
Q: I have a 401K and I am over 70 1/2 but I also still have earnings. Do I have to take the required ...
A: Great question Linda, and I will assume that this 401k is with your current employer. If you are ...
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| Annuity of municipal (non-tax) bonds? | 9/10/2008 |
Q: Is there such a thing as a lifetime annuity based on a mutual fund of municipal bonds (i.e., no ...
A: Unfortunately, there is NO SUCH thing. An immediate annuity will provide a small amount of interest ...
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| early withdrawal from SEP | 8/12/2008 |
Q: How do we determine what the taxes and penelty would be on an early withdrawal from our SEP? ...
A: This is very simple. A withdrawal from your SEP counts as income taken for that year for which the ...
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| DAD'S ESTATE | 7/10/2008 |
Q: My mom passed away and left a CD w/Dad as co-owner, and named 3 of 5 children ad beneficiaries -- He ...
A: You did not provide too much detail on the specifics of the CD. However, it seems hard to believe ...
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| Estate Planning-Lump Sum for Grandpa? | 7/7/2008 |
Q: Lump sum for my Grandfather? My family has offered to sell me my grandfather’s home in Florida, ...
A: Paul, this question is rather long and has several components. It also leaves out a lot of important ...
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| Suggestions? | 6/2/2008 |
Q: I am 55, retired military with a $1660/mo pension...taxable...and a non-taxable VA disability of ...
A: Denver, thanks for your question in advance. Based on the situation you provided for me I would ...
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| 401k | 5/18/2008 |
Q: My mother is 65, had a heart attack, and will be retiring next month. She will be receiving about ...
A: Mary, thanks for your question. Based on the information you are providing, I would say that her ...
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| Pension Plan Rollover to IRA | 5/15/2008 |
Q: I have a pension plan through my company (no longer employed there) Bruel & Kjaer Instruments. I ...
A: Steven, thanks for your question. It is obviously not great to hear about your troubles with the ...
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| PSP Loan against | 5/14/2008 |
Q: I have a PSP plan and I have a loan against this. I'm retired from this company but working again ...
A: Steve, thanks for your question. I am somewhat surprised that the loan you currently have against ...
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| 401K early distribution | 3/1/2008 |
Q: I am considering early retirement at the end of this year to lock in a lower health insurance rate. ...
A: Randy, thanks for your question and a very good one it is. Making the decision to retire early and ...
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| 401k | 2/5/2008 |
Q: One of our staff died today and he has frozen his 401k in OCt 07, amount 1,300.00 before his death. ...
A: Deborah, Since this is a 401(k), the account value will pass to the beneficiary on the account. ...
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| Retirement Account Mix | 1/14/2008 |
Q: I currently have around 800K in retirement funds in three places. One is Fidelity and I intend to ...
A: Congratulations on your upcoming retirement. I hope you are prepared mentally for that challenge. ...
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| Paying Tax on 401-K | 1/8/2008 |
Q: My husband is 69 and we are now dealing with the prospect of paying tax on his 401-K. The 401-K is ...
A: Lookup Net Unrealized Appreciation and educate yourself on the process. Make CERTAIN that you find ...
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| Paying Tax on 401-K | 1/7/2008 |
Q: My husband is 69 and we are now dealing with the prospect of paying tax on his 401-K. The 401-K is ...
A: Mary, thanks for your questions. The area of distributions from retirement plans is one that is very ...
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| Asset allocation | 1/4/2008 |
Q: I have a question about my portfolio balance and I was wondering if you could let me know if I have ...
A: Sam, thanks so much for your question. I hope I am able to lend you a little clarity. Unfortunately, ...
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| 401k profit sharing plan | 12/6/2007 |
Q: my employer stopped contributing to the profit sharing over 2 years ago and the money i have in the ...
A: Lori, first thanks for taking the time to ask me this question. For you to get a better ...
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| IRA early withdrawls | 11/19/2007 |
Q: If I withdrawl money from an IRA to pay"qualified education expenses" is there a lifetime limit to ...
A: College can be expensive. Thankfully, certain higher education costs for you, your spouse, children ...
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| Question about annuities | 11/16/2007 |
Q: Just out of curiosity. Is the following correct? *All other things being equal*, a lifetime ...
A: Great question. However, your question has some flaws. Please be mindful that when it comes to ...
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| Withdrawal of all IRA savings | 10/29/2007 |
Q: I am 61 years old. I want to know what are the fees, besides taxes, will be levied on me for ...
A: Jerry, I am not certain what your particular individual situation is or how much money we are ...
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| Equity Index Annuities | 10/29/2007 |
Q: From what I understand, and EIA (Equity Index Annuity) is an annuity that credits interest based ...
A: NEVER consider using an EQUITY INDEXED ANNUITY Great Idea? Invest in the market with no downside ...
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| IRA | 9/29/2007 |
Q: I have a question about retirement accounts. I am 32. Two years ago (at age 30) I started a ...
A: Yes same thing. Basically you open up the IRA account with E-trade. All that E-trade is is just a ...
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| IRA | 9/28/2007 |
Q: I have a question about retirement accounts. I am 32. Two years ago (at age 30) I started a ...
A: One of the the surest methods of reaching financial independence is that you start early putting ...
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| Retirement | 9/14/2007 |
Q: i am a physician and just left one group and have about 400k in a 401k. my new group makes all new ...
A: I would go to www.napfa.org. This is the organization for fee only advisors in the country. You will ...
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| life insurance | 9/3/2007 |
Q: While on vacation, someone told us about a company that would buy a life insurance policy on you and ...
A: Linda, there are strings attached - YOU MUST DIE. In life insurance you only collect the death ...
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| Whne my father dies | 9/2/2007 |
Q: When my father dies and has a will and an insurance policy am I responsible to pay any outstanding ...
A: Jennifer, Yes the Estate of the deceased is responsible to pay the creditors of the estate ...
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| 401k distribution. | 8/30/2007 |
Q: I am 84 years old, and still actively employed, and contribute to my company's 401K. I was told ...
A: You are right. This is the "still working exception" for RMD distributions from your employer plan. ...
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| Trad IRA to Work 401k | 8/29/2007 |
Q: I have a an Traditional IRA that I am considering rolling over into my workplace 401k. None of the ...
A: This is always a question I enjoy answering. Primarily, because it is important to clear up some ...
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| max 401k , traditional ira before roth? | 8/21/2007 |
Q: Should one usually put in the maximum allowable into their 401k and traditional IRA per year BEFORE ...
A: The benefits of a Roth IRA are hugely misunderstood even among CPAs and financial planners. In ...
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| disabled - cash in IRA or Life Insurance Policy? | 8/16/2007 |
Q: I am permanently disabled and have a question regarding my IRA and my Life Insurance Policy. I ...
A: Lisa, Thank you for your question and I hope I can offer some assistance in the answer. Although ...
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