Search Results for: rollover

I had a 401k and rolled it over to IRA when I left that employer. If I want to convert some traditional IRA’s to Roth will this older Rollover IRA count count in the conversion calculations?

Hi Terry, have been following your dedicated help to many regarding our financial concerns. I have a traditional IRA ( 100,000. ) with an internet bank at 1.40 % interest. It will mature at the end of Jan. 2017. I am 83 y.o. & now looking for an easy way to keep this IRA , […]

I am working with a financial planner who wants me to roll my 401k into an annuity that he says will get me a 7percent return on my money. He said the fees are about 2 percent but would be worth it. Are annuitys a good way to invest or should I stay away. Terry […]

Was listening to WGN this morning and the financial advisor was quite adamant about rolling over funds in my 401k and IRA into a commercial market bridge loan. He said it will be a safe haven for our money for the next year. He also said that there is no penalty to roll it over […]

Terry, I am curious about what to do with money that I have in an employer (fire department) sponsored 457 account with Nationwide Retirement. I have about $220k in the account, but I cannot make additional contributions now that I am retired. I am 57 years old and I do not intend to collect until […]

My question: I’m 71. I attempted to roll over the balance in my employer 401K account and was told I was too old (over 70 1/2) to roll my 401K over. Is this correct? If so, will I have to pay the taxes on the full amount in my 401K? Do you have a suggestion […]

Hi, My bank had rollover over my old 401k into a Qualified Variable Annuity over 10 years ago. Is there any way I can rollout money from this annuity into a Retail Mutual Fund IRA I have with Vanguard. I’m 56 years old and was trying to avoid the annuity high fee’s . tks Terry […]

I heard that you may only rollover 1 401K account per calendar year, or pay taxes on any additional. I have 2 accounts tat I’m looking to rollover. Is that true? Terry Says:  No, this is an error.  You can do only one non-direct rollover each year –  That is the type of rollover where […]

I rolled my 401 K over to my local State Employees Credit Union when the stock market starting its down turn. My money is in their money market which is currently an Interest of 1.5%. I really do need a better return but it do not know to invest in at this time. I will […]

I recently lost my job I want to re invest my 401k what is safest way to do this and can I do it without claiming it in my taxes and pay a penalty Terry Says: Oh, I’m so glad you asked before you did anything that would incur penalties and taxes.  You want to […]

I rolled over a matured traditional IRA CD this past Oct., 2013 to a liquid cash IRA acct. I plan to merge another small IRA next month to then have all IRA’s combined into one. I will then plan to find a CD that pays a little more interest. The IRA in the liquid acct. […]

I am 60 years old and retired. Effective April 1, I will be receiving a monthly check from my 401K plan to supplement the small monthly pension check I am receiving from my former employer. I have made arrangements with the 401K plan administrator to receive this check for the next 20 months to help […]