IRA
Pages
Yes, take advantage of a rollover IRA
Thursday, May 24, 2012
My wife and I have taught in Alabama public schools for the past 2 years and have made (forced) contributions to the state retirement system in that time frame. Together, we've got around $8,000 invested in the state retirement system. Realizing the limited income prospects for career teachers, we both applied and were accepted to a top 25 law school on full-tuition scholarship. My question to you is this: For my retirement account, I have the option of either a) taking a lump-sum payment of the $8,000, minus 20 percent in federal income tax, or b) rolling it over into a 401(k), IRA, or similar long-term savings plan. Should I take the money and run, or should I start building a retirement nest egg while I'm financing the rest of my life with borrowed money? Alex, Montgomery, AL
Setting up a rollover IRA
Tuesday, May 8, 2012
My wife will soon lose her job after several years working in non-profit. I am confident in her ability to find another job, but in the meantime, we have been told that she will have to take money out of her 403(b), totaling about $45,000. What should we do with it? Roth IRA? Something I don't know about? James, Louisville, KY
Funding an IRA when retired
Wednesday, April 11, 2012
My wife and I just retired last June. She just turned 60 and I will turn 59 soon. We own our home and cars, we have no credit card debt and our savings (not including retirement accounts) is almost $100,000. Our kids both finished college without accruing debt (thank you very much!). As I completed our taxes this spring, the amount owed is almost $2,400. If we open an IRA for $8,000, the amount owed drops to under $1,200. Does it make sense for us, at this point in our lives, to invest in the IRA for the tax savings? Part of me says it is a no-brainer; the other part says that investing in an IRA when you are already retired doesn't pass the common sense test. What do you think? Mike, Blue Earth, MN
To annuitize or not to annuitize -- with apologies to Shakespeare
Thursday, March 29, 2012
I am ready to convert my 401(k) into an IRA. I am 61 years old and want to start taking annual distributions. The current balance in the 401(k) is $562,000 and I would like to withdraw 4 percent annually. Fidelity Investments is recommending a Guaranteed Annuity of $400,000 and the remaining in a managed portfolio fund (balanced). The annual fee for annuity is 1.90 percent of the balance and the managed portfolio 1 percent. These are the only fees. There is a 2 percent penalty if withdrawn within the first 5 years. Is this a good option, or should I keep the money in moderate conservative index funds? Emma, Las Cruces, NM
Is a CD a worthwhile investment?
Wednesday, March 21, 2012
Should I consider a CD as a worthwhile investment? I am 26, work for a neat nonprofit, paid off my car in 1 year and plan to be paying student loans for 20 years. I have about $5,200 invested in stocks and mutual funds (most of which is split between a Roth and a traditional IRA). I have another $1,000 I'd like to invest. Should I continue with IRA contributions and modest stock purchases or consider something like a CD? The thing is, my online savings account APY is higher than the CD rate. I guess a third option is paying down an additional $1,000 on my student loans. What should I do? Thanks! Michael, Salisbury, MD
A bleak snapshot of America's retirement future
Tuesday, March 13, 2012
Americans share little confidence in their ability to afford a comfortable retirement. The 22nd Retirement Confidence Survey by the Employee Benefits Research Institute is stagnant at historically low levels.
2
The best way to own TIPS
Monday, March 5, 2012
Are there any disadvantages to purchasing TIPS through something like Fidelity's Inflation Protected Bond (FINPX) for my Roth IRA? Or would it be a better idea to just purchase TIPS directly from the Treasury? Thanks, Danny, Davis, CA
Two IRA questions
Wednesday, February 8, 2012
My questions are: 1) Should we set up something for my husband that would be appropriate for us, or should we be adding more of my income to my employee 403(b) match and continue saving that way? 2) What should I do with my 403(b) from a previous employer -- let it continue or roll over?Mary, Spring Lake, MI
Naming your IRA beneficiary
Tuesday, January 31, 2012
I live in New York State. Can I have my son as the beneficiary for my IRA and Roth IRA account? If yes, what do I need my husband to sign? Thank you. Wendy, Lockport, NY
Got the Roth IRA: Now what?
Friday, December 30, 2011
I'm 25. After listening to your show, I decided, Hey, I ought to start saving for retirement, so I opened a Roth IRA. Now my question is: Is that it? Do I just put money in there and it grows? Or is this the type of thing where, once it's created, I then have to allocate the money in there to various investments? If it's the latter, what the HECK should I direct my first investments toward? Love the show, cheers! Sam, Concord, NH
Pages
Buzzworthy
Recent comments on our stories..
Times-Picayune to cut back jobs and production schedule
As someone born and breaded in New Orleans I'm sorry to see this news from my hometown paper, but as someone who's found reading it an...
BostonPeng | May 24, 2012
High-frequency trading: Bad for markets... and the soul?
Hi,
First I'd like to thank everyone for listening to what I had to say, it's really an honor to have been on marketplace. Second...
Nick Hanauer on the TED talk, income inequality controversy
If the idea of "trickle-down economics" hasn't worked---when governments have actually *tried* it, rather than a form they...
kingjon | May 18, 2012 Time to bring back Glass-Steagall?
I can finally agree with Robert Reich100%. To our detriment, banks have forgotten that there is a difference between manipulating money, and...
pauliswood | May 16, 2012
