Retirement FAQs

  1. Can I close my existing Roth IRA and invest in a new Roth IRA at a different financial institution without a tax penalty?

  2. Is it easier to save for retirement if you start earlier in life? Can I make up for what I don't save now by contributing more later on?

  3. Is my 403(b) account owned by me or by the institution?

  4. If there are two plans and one is terminated, creating a distributable event, can loans in the terminated plan be rolled over?

  5. Can an individual contribute to both a Roth IRA and a Traditional IRA in the same year?

  6. What are the requirements that a trust needs to meet to be qualified?

  7. Can high-income earners deduct yearly defined-benefit plan contributions of over $100,000?

  8. I overcontributed to my Roth, then lost half of this money to the market. Does the 6% penalty apply to my original contribution, or only what's left of it?

  9. Are my IRAs secure against possible liens?

  10. If an employee covered by a SIMPLE leaves his employer within the two-year period and his new employer doesn't have a SIMPLE, what happens to the plan? Can the employee roll it over without penalty, or keep it at the old company until the two years expire

  11. Where can I find information on how to distribute my deceased parent's assets?

  12. Why is there a cap on the Federal Insurance Contribution (FICA) tax?

  13. What's the difference between Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI)?

  14. Will I pay taxes on my Social Security payouts?

  15. Can I deduct my Individual Retirement Account (IRA) contribution on my tax return?

  16. Can I contribute to a Roth IRA and still participate in my employer-sponsored retirement plan?

  17. At what age will I be eligible for the maximum Social Security payout?

  18. Can I take money out of my Individual Retirement Account (IRA) while working?

  19. What's the difference between an individual retirement account (IRA) and an annuity?

  20. What's the difference between an individual retirement account (IRA) and a certificate of deposit (CD)?

  21. Why is Social Security running out of money?

  22. Can my spouse and children collect my Social Security when I die?

  23. How Can I Fund A Roth IRA If My Income Is Too High To Make Direct Contributions?

  24. If I don't have any kids and want to leave all of my worldly possessions to my dog, how would I do it?

  25. How do I list the beneficiaries of my life insurance policies if I have a trust?

  26. Are 401(k) loans taxed?

  27. What pension benefits are available to military personnel?

  28. What should you do when you're five years from retiring?

  29. What are the differences between a 401K and an IRA?

  30. How do I retire?

  31. I want to transfer my house title to my child, what are the costs and tax consequences of doing so?

  32. What are Government Pension Offsets, and who is subject to them?

  33. How do you plan for retirement if you have multiple employers? Can you combine retirement plans from multiple employers?

  34. My daughter would like to use some of her Roth IRA to pay for some current tuition fees and loans. Can she do this without a penalty?

  35. I have a 403(b) from a old employer. I would like to convert it to a 401(k). How can I do that?

  36. Our broker switched firms in the middle of 2011. As a result we lost track of our required minimum distribution (RMD) amounts and ended up withdrawing much more than our RMD. Is there a way to defer some of the withdrawal to 2012 to avoid the tax liabilit

  37. What happens during the consolidation phase of an investor's life cycle?

  38. How can I start an IRA for my child?

  39. What is the difference between qualified and non-qualified plans?

  40. Which investment would be most suitable for a client investing for retirement and seeking protection from purchasing power risk in the future?

  41. The reason why ERISA qualified plans should have an investment policy statement is to:

  42. How do 401(k) loans work?

  43. What are the exceptions to the premature withdrawal penalty rules for IRA accounts?

  44. Can I refuse a gift by providing a "Qualified Disclaimer," and what does this entail?

  45. I have a profit-sharing plan with my former employer. I am now trying to buy a home. Can I use my profit-sharing money to put a down payment on a house?

  46. When is it a good idea to use an irrevocable life insurance trust?

  47. What does a "5 by 5" power in a trust document mean?

  48. How does an employer benefit from a 401(k) matching plan?

  49. Why is accidental life insurance so inexpensive?

  50. Should I collect early Social Security?

  51. What is the "stretch IRA" concept?

  52. What are the pros/cons of naming a trust as the beneficiary of a retirement account?

  53. Does it make sense to convert a Traditional IRA to a Roth when the market’s down?

  54. What is the difference between early retirement and full retirement as it applies to Social Security retirement benefits?

  55. All of the following are allowable deductions used in determining taxable estate EXCEPT

  56. If my spouse passes away, will I have to sell my home to meet creditor obligations?

  57. When is the best time to purchase long-term care insurance?

  58. What documents should I have ready in case my partner or I should die?

  59. Which of the following accounts does ERISA cover?

  60. What is the "three-legged stool"?

  61. What is pension maximization?

  62. Is it wise to put an IRA account into a fixed or variable annuity?

  63. Which statement(s) is/are FALSE about market risk?

  64. What is long-term care?

  65. What are activities of daily living (ADL)?

  66. Why should I invest in the market when I can buy and sell houses or cars?

  67. A lot of retirement projections seem to assume an 8% rate of return. Is this realistic?

  68. Should a Canadian citizen who lives and works in the U.S. continue to contribute to a RRSP account?

  69. What is cliff vesting?

  70. How do I use a conduit IRA?

  71. We are in a 401(k) at work. Can we also do a Roth each year? If we can, can it also be deducted from our taxes?

  72. Do I still have to pay penalties and taxes on money that I don't roll over from a DROP fund?

  73. Is a person an active participant in an employer-sponsored retirement plan if he or she was only active for a short time?

  74. What are the penalties for withdrawing from my Traditional IRA less than a year after acquisition?

  75. Am I entitled to any of my ex-spouse's retirement plan benefits?

  76. What happens when someone is given the golden boot?

  77. What kinds of investments are allowed in a qualified retirement plan, and what kinds are forbidden?

  78. Is it permissible for a 70-year-old person to buy an IRA?

  79. I have conservative views on investing. How should I go about investing in a Roth IRA?

  80. My 80-year-old mother used her Roth IRA assets to make an $11,000 annual gift tax exclusion. Will these still be considered Roth IRA assets?

  81. Can a spouse who is not named as a beneficiary receive assets from an IRA?

  82. I make over $100,000/yr and my adjusted gross income precludes standard IRA contributions. My contributions to my 401(k) plan at work are limited to about $7,000/yr. It seems I'm being penalized for my income. Are there other retirement savings options av

  83. Earnings within a Roth IRA are tax free, so are these earnings included in the modified adjusted gross income which is used to determine Roth IRA eligibility?

  84. I stopped distributions from my retirement account while under Rule 72(t). Will this have any effect on future distributions that I do take? Am I subject to the 10% penalty?

  85. Can an IRA beneficiary roll the IRA over into another account and designate another beneficiary?

  86. Can my spouse and I combine our Traditional IRAs?

  87. Can I return funds to my Roth IRA after I have taken it as a distribution?

  88. How can I budget for both short-term expenses and long-term goals?

  89. How can a trust lower federal transfer tax liability?

  90. I work for two companies. How much can I contribute to each company's SIMPLE IRA?

  91. I do not want to totally get out of my retirement 401(k), but I want to take 72(t) distributions. What should I consider?

  92. Can an IRA be used as security for a loan?

  93. My recently deceased spouse's IRA has been rolled over into mine. Does the cost basis change for me?

  94. Can the non-spouse beneficiary of an IRA name a successor beneficiary?

  95. What are some common and useful retirement planner designations? Are they expensive or difficult to obtain?

  96. My spouse is the primary beneficiary of my IRA. I also have a contingent beneficiary. Can my spouse still transfer my IRA assets tax-free to her own IRA?

  97. I have some stocks in a taxable account. Can I use them to fund my Roth IRA instead of using cash?

  98. What will happen to my SEP IRA if I leave my current employer?

  99. Are there special benefits for U.S. armed forces personnel?

  100. Why should I bother creating a budget?

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