Author: John

Mutual Funds

Mutual Funds or Mutual Fund companies as the name implies, are companies that manage and sell Mutual Funds. An example of these would be Vanguard, TrowePrice, and Fidelity. Mutual Funds are great investments for your 401k rollover IRA and opening…

401k Required Minimum Distributions (RMD)

Are you required to take the Required Minimum Distribution (RMD) from a 401K if you are still actively employed? Answer If you continue to work beyond age 70 1/2, and do not own more than 5% of the business you…

IRA Deductibility Rules

Traditional IRA deduction rules for 2011: Each year the IRS increases the income levels whereby your contributions to a traditional IRA are tax deductible. As you do your taxes for 2011 or as you consider making a contribution to your…

IRA Plan Descriptions

Below is a brief description of the most popular IRA accounts. More details are available for each IRA type. IRA: An IRA, or Individual Retirement Arrangement, is usually set up by individuals and contributions are generally tax deductible when you…

Financial Advisors

A typical Financial Adviser or a Broker normally works for a full service brokerage firms (Merrill Lynch, Morgan Stanley, Edward Jones, American Express, and many other firms you may or may not have heard of before) and sometimes call themselves…

IRA Withdrawal for Educational Expenses

My daughter is 24 and she just went back to school. Can I withdraw money from my IRA to help her with her educational expenses? Answer You can withdraw money from an IRA at any time, however if you are…

Discount Brokerage Firms

These are brokerage firms for the do-it yourself investor. Unlike full service firms, they don’t employ commission-based brokers and do not offer investment advice. Discount brokers or discount stock brokers offer substantial discounts on transaction costs when you buy and…

403b Plan into Roth IRA

Can I roll over my 403b into a Roth IRA? The only option I saw was 403b in to an IRA then Convert the IRA in to a Roth. Answer You are correct in that a 403b can not be…

401k Contribution Limits

Below are the maximum 401k contribution limits, 401k employee deferral limits for this year as well as the maximum catch up 401k contribution you can make if you are 50 years or older. 401k Contribution Limit 401k Employee Deferral 401k…

401k Loan To Buy A House

I have funds in an employer’s 401k retirement account. I want to be able to take a loan against the 401k to purchase a house, but I don’t want to be liable for the balance if my employment with the…