Retirement
When it comes to rollovers or transfers between 401k accounts and IRA accounts, one word makes a lot of difference. A 401k rollover requires that 20 percent of the amount being rolled over be withheld for taxes, even though the account owner still has to deposit 100 percent of the amount within 60 days to [...]
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Financial advisors and other financial professionals throw around certain terms like everyone already knows what they mean. In some cases, they are right, and in other cases, most people only have a partial grasp on what exactly a certain financial term means. In many cases, knowing the full definition of a word or phrase makes [...]
As the end of the 2010 tax year comes to a close, an interesting question is coming up more often. Should I convert my IRA to a Roth in 2010? There is a special 2010 tax trick that allows you to convert your traditional IRA to a Roth IRA and spread the taxes from the [...]
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What is the difference between a Roth IRA and a traditional IRA? That question about retirement planning is very common. I’ve written up short answers, detailed answers, courseware, seminars, flyers, tear sheets, white papers, and who knows what else about what a Roth IRA account is versus a traditional IRA account. Lately, the questions, while [...]
Figuring out what the best thing to do with your money is can be difficult. Many people get caught up in all of the possibilities. They wonder is it wise to pay off your house mortgage? Should they pay off credit cards or put higher down payment on a new home? Should I pay off [...]
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With the meltdown of the banking industry just the latest in a long line of shenanigans that Main Street remembers happening thanks to Wall Street, it is no wonder that ordinary people are nervous about their finances. In particular, many people are worried about their 401(k) and how they will ever be able to retire [...]
Using a Roth IRA as your emergency fund? Make sure you are doing it right.
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Listen to the book authors, newspaper and magazine columnists and many web sites, and you will hear that [tag]financial advisors[/tag] or [tag]financial planners[/tag] are nothing more than glorified snake oil salesmen out to separate you from your hard earned money. To listen to some in the finance industry and their champions, financial advisors and financial [...]
Continue reading about Financial Planners and Financial Advisors an Introduction
The 401(k) Primer is up at www.financegourmet.com Direct Link to 401(k) Primer
Over on the Finance Gourmet information site, there is an article on the downside that most people forget when they take out a [tag]401(k) loan[/tag]. Most plans require you to repay the full amount within 90 days if you leave the company. If not, it is an early withdrawal for people under 59 1/2 — [...]
