my husband purchased a house using money from his investments to purchase a house in a real estate IRA??? We have owned the house and have collected some rent for 5 years. We are now nearing retirement – 62 and wondering what way to rollover the house – sell and not get penalized? or do […]
I have a 40 year old VALIC IRA fixed account paying 4.5%. ($4400 in it.) I also have 85,000 in an IRA with my broker just sitting in my account (against his wishes!) But as a 74 yr. old, should I move this money into VALIC. When I called VALIC, the woman told me they […]
I have been retired now for 3 yrs. I am 61 yrs.old and I have no bills. I still have my 401 at my last employer. I don”t need the money right now. My investment advisor is always asking me to transfer it too a IRA or Roth, I have about 15 different stocks in […]
Can I transfer the funds from one 529 to another? Specifically, I have some funds (unhappily) in the Montana Family Education Savings Investment Program. They put the funds into long term CD’s with the lowest interest rates in the universe. I want to transfer those funds to Illinois Bright Start or Utah Educational Savings 529, […]
Hi Terry – Does the IRS allow a direct roll-over of 401K funds to pay LTC insurance premiums? I currently itemize so I am aware of the tax benefit of declaring this out-of-pocket expense, however I would appreciate just being able o transfer the funds directly from my 401K to pay the premium instead and […]
What is your opinion of GNMA reinvestment income trust 120.Have approx 16K as of 9/2014 in it as part of trad IRA. Will be 70 yo this Nov. FAdv wants me to liquidate this and apply proceeds to purchase of symbol WRHIX. Also have 3 other equity UIT’s that combined w GNMA equal 40.2% of […]
I have a TSP account with the government and although I am only 68 I need to start planning what to do when I reach 70 1/2,when I have to withdraw that account. Where should I invest that TSP account? Terry Says: For those who are not aware, the TSP refers to a government Thrift […]
Dear; Terry I am sorry to bother you with my question and your time: I lost my job on 2009 and i rolled my 401k to a regular IRA… Now my question is. Can I roll it over to a ROTH IRA? One year from now i will retire. Thanks again Terry Says: The simple […]
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 […]
