Financial Planning / Retirement Questions
Roth IRA conversion
I see a lot of advice regarding converting traditional IRAs to Roth. I honestly don’t understand it. Won’t most of..
Social Security – Survivor’s Benefit
Both my husband and I worked for 35+ years. We are both 62. My husband earned more money than I..
IRA/Trust
I have a traditional IRA. I have a living trust. Should I place the IRA in the living trust to..
Should I move 401K Account
I ‘m 63 1/2 years old, I was permanently laid off from my job of 23 years. I am in..
Ira
I’m 78 and have a small IRA. What is the benefit of an IRA versus just having a savings account?..
Amendment to existing trust
Can you recommend a reliable honest trust attorney to make changes to my existing trust?
What move to make with inherited IRA
Dear Terry, I currently have a Roth IRA with about $70K in it and inherited a IRA with a little..
Fixed Indexed Annuities
Terry, I’m in conversation with [broker named] about Fixed Indexed Annuities and using them to replace the Bond part of..
Foreign Pension distributions , Income and Social security
Do foreign distributions from foreign pensions, count as income? Does a tax-free lump sum as part of a foreign annuity..
Surviving Spouse Social Security
Good morning Terry, My husband passed away 8 years ago. I started to receive Surviving Spouse SS. In one of..
Youth savings
Grandson os 16 started working p/t wants to put money away towards retirement. Has to be at his job a..
Proceeds From Home Sale
Hello Terry! My elderly father recently moved back to Illinois after living out of state for twenty-three years. He has..
Bank Accounts signatory
My wife and I are closing in on 78 years old. We have a trust agreement and wills. Should our..
Roth IRA Contribution
Terry, I am 74 and worked in 2023. I contributed $21,436 in 2023 to a 403b traditional plan at my..
Should I pay off mortgage from retirement funds
I’m almost 70 and am ready to retire. I own a house with a mortgage balance of $130k . Interest..
RMW
I missed my RMW for one of my accounts through no fault of my own. My former employer switched providers..
Will Selling Home affect SS Benefits or taxes
Im selling my home and moving into a senior complex. I will have a small amount of profit like 60k...
Medicare – Medigap and effect on residence relocation to another state
I am retired, live in Illinois have Medicare F and BlueCross of Illinois. If I relocate to another state do..
Social Security offset
Why payed in 100 % to ss and only able to collect 40% because of government offset. Something rosenkowski put..
Protecting your married adult children
My daughters husband has shown over the years to want the best of everything and usually overules what my daughter..