Financial Planning / Retirement Questions
Working while on Social Security
Good afternoon. I started taking social security at age 62. I was recently offered a job but the pay would..
Savings ratio to total investments
What ratio do you recommend of savings compared to total investments and RMD’s. Currently, savings are 22% in a platinum..
BANK ACCOUNTS
WHAT IS BETTER? A BANK ACCOUNT A JOINT ACCOUNT A POD , TRUST OR A WILL WHEN I DIE?
401k contributions and buy out
Hi Terry, I will be taking an early retirement from my company that will be effective end of June. As..
7702 plans
What do you think of 7702 plans?
Federal Tax question dealing with passive activity loss limitations
My friend made a withdrawal from her 401K plan to rehab a house for rental property purposes. My question is,..
RMD if I’m 71 this year?
Just a quick question. I turn 72 on November 23rd 2021. Am I required to take a RMD for the..
Paying down mortgage amount
My wife and I are 54 years old. Youngest son is out of college so financially we are in a..
Possible early mortgage payoff
Terry, We’ve refinanced our mortgage last january to a 8 year, 4.625% that currently has $168K left. We have been..
Retirement
I am 70 years and 9 months old. When can I start taking the MRD from my IRA account?
Retirement asset allocation
Looking to retire in 2021 at 63 and a financial advisor wants me to put 45% into an index annuity...
HELOC and best option how to pay off
Husband and I have $80k balance for HELOC I have approximately $900k in different IRA and retirement funds rate of..
Investment options
Hi Terry, My husband and I have about 75K in our savings account that is not making any interest. What..
Extra Money in Penny Stocks?
Hi Terry, I am 59 years old I retired in December of 2019 1year ago. I have a pension I..
Retirement accounts vs. IRA Rollover
I am a retired Chicago public school teacher. I have a vanguard target 2020 retirement 403b. Now that I am..
House purchase after divorce
Our son-in-law left our daughter and her babies(ages 1 and 5) they had just purchased a new bigger house. The..
Pension protections
What are the $ limits of the Pension Protection Act ? Do they protect against lawsuits?
Defined-Benefit Pension Plan payout
Hello Terry – I have read your article about changes to retirement plans. Are there any changes to defined-benefit plans..
Congress makes changes some significant changes to retirement account rules.
In an article you recently wrote concerning changes Congress made to IRA’s you stated “Of course, the dreaded RMDs are..
Not prepared to retire
Hi Terry, I am a 46 year year old mother of 3, however only 1 is a minor. I have..
