I have Edward Jones as a broker. I keep asking about Index fund, and he keeps steering me away from index funds. Should I purchase index funds and if so, should I buy from him or go direst to someone like Vanguard. Terry Says: If you go to a traditional brokerage firm like Edward Jones, […]
February 3, 2015 Hi Terry, My Wife and I were considering rolling over our kids (8 & 6), Bright Start College Savings to the Bright Directions Plan.. They each have about $38K in their accounts, we are still upset over the loss that we suffered 5 years ago with the Bright Start debacle, our concern […]
what would you suggest for investments any reputable for stable ?hybrid annuities? any help would be appreciated! i do mean any i am leaving my company april 30 ,2015 i am 62 yrs of age.thanks terry my risk tolerance is ok ? any info is fiine i dont want to leave my money with the […]
i am 62 i have as of now my lump sum i am taking to invest i see you dont like annuities too much for investments .my question is i have over 4 hundred thousand to invest,any suggestions for investing.? any ideas would be helpful . Terry Says: Well, you have a wonderful problem! And […]
I am 71 years old. I am taking RMD’s from an IRA CD which is about to mature. If I roll over the CD at the same bank and then find a better interest rate at another bank later, say in 6 months, can I rollover the money to the other bank without any penalty? […]
How is a pension buyout calculated? Terry Says: The actuary for the company and the pension fund determines the “present value” of your future pension when making an offer to give you cash from your pension. Of course, you don’t want to take cash now and lose all future growth of benefits. So they should […]
Hi Terry, Can you recommend a reputable gold company I can rollover my $25 401 k; i started out w $48,000 w them now I’m Down this quarter to $25,0000. I’d also like to keep a portion of the gold and invest the rest ? Is that possible? Again can you refer a company […]
Retired drawing pension. Part time employed with $4,000 per year. Can 457 plan be withdrawn. Retired from employer where all funds were earned. Terry Says: Well, the first thing you probably should do is a ROLLOVER — directly from your previous employer to a new custodian, probably at Vanguard or Fidelity or T. Rowe Price. […]
I have a 401k plan from a previous employer; I left employment in my 40s to become a stay-at-home mom, but continued in the plan because it was doing well. Is it possible to take penalty-free monthly distributions at age 55 if I am no longer employed and am not retiring? Everything I read only […]
Hi Terry: OK, I’ll admit it; I’m a DIY (Do It Yourself) investor; yes, one of THOSE that draws the silent ire of many a financial professional. Thanks to you and your guidance, along with other sound information if been able to parse from other publicly available resources, I find myself moderately confident about my […]
I opened a Roth IRA at my bank about one and a half months ago. It’s only $3,000. My sister says I should go with her guy who will put real effort into making good investments for me. He’s with Edward Jones. What kind of penalty would I be looking at to get the Roth […]
Between retirement at 66 and the RMD at 70.5, should I be takeing money out and placing it in different types of accounts to bypass the RMD with a forced withdraw? Enjoyed you at GSU on Tuesday. Thanks in advance, Al Terry Says: It all depends on when you want to pay your taxes!! The […]
I am 82 and need my 401k for an assisted living place how much will i be taxed Terry Says: Well, first congratulations for having saved so much money that your 40l(k) still has money left in it! I presume you have been taking the minimum required distributions for the past decade — ever since […]
Let me preface this by saying that this is not my primary retirement fund. This fund is something I’ve been meening to move for years and never got around to it. I have a 401k from a previuos job that is in active. I would like to make a with drawl as a gift for […]
I’m 68, wife is 65. Wife will soon retire from Chase and get a lump sum $95,000. Chase is recommending an annuity she could roll it into. Do you think rolling it into an annuity is a good idea, and if so, what type of annuity? There are so many! Would a mutual fund IRA […]
Hi Terry, I would like to roll over an old 401k into an IRA and wanted to know what questions I should ask the financial firms I contact. I have 15 years until I plan on retiring so I won’t be using most of the money before then but I may need access to it […]
Terry, I wanted to take a portion of my 401k (from past job) and transfer to an IRA. I learned that since I’m not a current employee, I’m not allowed to take out just a portion of my money. Either all of it or nothing. My 401k has been doing well an average of 15% […]
Hi Terry, We need to get a new financial person, I meet Jim Flanagan of Bentron Financial Group, Inc. at his office regarding taking early retirement (I’m 61) because of no job for 2 years. He looked at my rollover IRA accounts which have not been doing very good for at least 10 years. What […]
I have an old 401(k) with Fidelity. My wife says you’ve recommended Fidelity 529 plans. Can that be rolled over into their 529? I understand I can roll over into my existing ROTH IRA but is there anything I can do to move this money into a college plan? Terry Says: No, you can’t move […]
Hi Terry, can i merge 2 different traditional IRA’s ( held at different banks ) together to make one account ? Terry Says: The way to do that is to do an official IRA ROLLOVER, from one custodian to the other. In other words, don’t touch the check. Simply instruct one bank to roll the […]
