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. […]
With interest rates so low on CD’s, I am considering a rollover of an existing IRA from a maturing CD to a church. This is a new situation for the church. What is needed to authorize a church to become a custodian of individual IRA’s? SAVAGE SAYS:? WHOA!!!? And I put that in bold and […]
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 […]
Hello Terry, I work for a company that will be closing its door in California and have been given a date for my last day there. I have been with this company for 11 years and my question is this, If I collect my pension in full now, would this be beneficial to me? Will […]
Time flies – and never so quickly as we approach the annual deadline for taking a Required Minimum Distribution from traditional IRAs and 40l(k) and 403(b) plans. With more boomers reaching age 73 each year, it’s worth reviewing the rules. And even more importantly, it’s worth sitting down right now to calculate and take your […]
U.S. Treasury Bill interest rates are still mostly higher than the comparable bank CDs. As of December 4, 2025, the yield on a 26 week (6-month) Treasury bill is 3.7%. That’s what you received if you participated in the weekly T-bill auction described below. It’s easy (see links below) and SAFE! And you can start with […]
The promises are enticing – stock market upside with no risk on the downside. Or market “participation” with downside “protection.” File this under “too good to be true.” But as with all sales pitches, the devil is in the details. Index-Linked annuity sales reached $65.6 billion in 2024, marking a 38% increase from the previous […]
Update on Thursday, April 10 The shock of the original tariff announcement was equaled and exceeded by the stunning and unexpected reversal midday yesterday. From my viewpoint, this whole process has exposed a level of irresponsibility that is shocking. Only when the ability to borrow — refinance our debt at reasonable rates– was called into […]
The upcoming holiday gifting season is a perfect time to review the incredible 529 College Savings Plan opportunity to build a tax-free fund for college, which can be used by any member of your family. And with recent improvements, even if your child gets a scholarship or decides not to attend college, the money can […]
Required minimum distributions (RMDs) loom for millions of seniors who have reached age 73. These distributions from retirement plans such as an IRA, 40l(k), or 403(b) must be completed by year end. Avoid the holiday rush, and contact your retirement plan custodian now. The rules are simple, but the penalties for failure to withdraw on […]
Whether your retiring and rolling over your 40l(k) or just starting to build your financial future, it pays to get trusted financial advice. The key word here is “trusted”! There’s plenty of financial advice around, but does it come from someone who is “on your side” – working to build your retirement – not theirs? […]
What’s inside your retirement plan? That’s a question every boomer should be asking these days, according to Ron Surz, of Target Date Solutions and the Baby Boomers in Jeopardy newsletter. Surz has patented a “safe glide” strategy that he says will better protect retirees from the risks inherent in most Target Date Funds. For two […]
The most unexpected and costly expense of retirement is the need to pay for long term custodial care – a burden that is not covered by Medicare or supplements. No one wants to think about needing help to eat or shower or do the basic activities of daily living. But you ignore the possibility at […]
If you have a retirement account – and IRA, 40l(k), 403(b) or other “qualified” retirement account — and you are, or have have reached, the age of 73 this calendar year, it is time to calculate and withdraw your Required Minimum Distribution or RMD. It’s actually a very simple process, but failure to calculate the […]
Congress gave American workers a last minute holiday gift – a set of new incentives to save more for retirement. Passed just before Congress adjourned, as part of the huge Omnibus spending bill, the Secure Act 2.0 increases limits on many retirement plans and creates a few new opportunities for workers to become more financially […]
It’s time to start thinking about RMDs – those Required Minimum Distributions that you must take from your retirement plans every year, once you reach age 72. Of course, those withdrawals can be made at any time of the year – but many people leave it to the last minute, which could be an expensive […]
If you’re going to read just one financial book this year, read Money Magic by well-known economist Laurence Kotlikoff, who also co-authored the definitive book on Social Security, “Get What’s Yours.” Kotlikoff has the extraordinary ability to make complicated money matters understandable – and to debunk the lures of Wall Street and the financial planning […]
Help with repayment of student loans is one of the most enticing benefits a company can offer to today’s young workers. And now there’s a new opportunity for employers to act before year-end to use a portion of the CARES Act that makes tuition repayment benefits even more attractive. Traditional employee benefits like healthcare and […]
A new rule promulgated by the Securities and Exchange Commission known as Regulation Best Interest (Reg BI) goes into effect June 30. It promises to give investors a clearer picture of the fees and other costs they are paying, as well as the disciplinary history of brokers and advisers who are giving financial advice, although […]
