FAQs tagged as

Saving And Budgeting Retirement

  1. What are the pros and cons of overdraft protection?

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

  3. What pension benefits are available to military personnel?

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

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

  6. How do I retire?

  7. Why should I pay myself first?

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

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

  10. 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?

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

  12. 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

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

  14. How can I use layaway plans for budgeting?

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

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

  17. A parent would choose to set up a Coverdell Education Savings Account for a child in order to save for college expenses AND:

  18. How do 401(k) loans work?

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

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

  21. 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?

  22. Why do you need an emergency fund?

  23. What are the requirements to be able to contribute to an HSA?

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

  25. Should I collect early Social Security?

  26. How do I know if I qualify to open a HSA (Health Savings Account)?

  27. What is the "stretch IRA" concept?

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

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

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

  31. How do I stop emotional spending?

  32. Which of the following accounts does ERISA cover?

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

  34. What is pension maximization?

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

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

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

  38. 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?

  39. What is cliff vesting?

  40. How do I use a conduit IRA?

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

  42. 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?

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

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

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

  46. I understand that I can withdraw from a 401k the year I turn 55 without the 10% penalty (IRS 575). Can I do the same thing with an IRA without the 10% penalty?

  47. I will be receiving monies from a QDRO executed pursuant to my divorce. I would like to take a portion of the money as a distribution to pay for a new home. What are the tax implications of doing this?

  48. Does the five-year rule apply if a non-spouse inherits an IRA after the required beginning date and the required minimum distribution is not satisfied in the year of death?

  49. My husband has a 401(k) account which is 100% vested with an $8,000 balance. We are in foreclosure and need a hardship withdrawal. The investment management company which handles my husband's account says we can't withdraw anything because we have not con

  50. My uncle died recently. He designated my mother and father as his beneficiaries in 1997, after his divorce, and did not make any changes after he remarried in 2000. My uncle's current spouse is now fighting for money from the plan. Does she have a leg t

  51. How can I make sure that past IRS errors have been corrected?

  52. I am only 17 years old. I don't have a job or pay taxes. Can I contribute to an IRA?

  53. I just learned that my 2004 and 2005 Roth IRA contributions are not allowed because my income exceeds the limits. Can I just withdraw the contributions plus earnings without penalty?

  54. If a company undergoes an acquisition can an employee withdraw 401(k) funds tax free?

  55. Is my non-qualified Roth IRA distribution subject to taxes or early distribution penalties?

  56. How does online banking assist with budgeting?

  57. Is it possible to reverse an IRA? I received a QDRO and owe money to my ex-husband. Is it possible to reverse the QDRO, which was put into a CD Traditional IRA account, without incurring any type of penalty?

  58. I overcontributed to my 401(k). What are my options?

  59. What are the "certain requirements" that must be met for substantially equal periodic payments (SEPPs)? Is it taxed at 20%? Is there any downside to the SEPP?

  60. Can a simplified employee pension (SEP) IRA be converted to a Roth IRA in the same manner that a Traditional IRA can?

  61. I'm having trouble getting my former employer to distribute my 401(k) plan balance to a rollover. Can you tell me the reasons why an employer might delay distributions and if there is a government agency I could contact to encourage the distribution?

  62. What is a good book on creating a trust that would qualify as the beneficiary for an IRA?

  63. Can IRAs be held jointly by spouses?

  64. Can I add my higher income spouse's name to my Roth IRA in order to raise our contribution limits?

  65. I am 61 years old and would like to contribute to my employer's 401(k) plan. Is there an age limit?

  66. Can I contribute to my company-sponsored 401(k) after the company's year-end but before its tax-filing date?

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

  68. Can a creditor seize my retirement savings?

  69. I have several CDs in my IRA with different maturities. Can I roll them over to another institution with a better rate as they mature?

  70. Can I convert non-deductible contributions made to my Traditional IRA to a Roth IRA without being taxed?

  71. What are some of the features and benefits of SEP IRAs and Roth IRAs?

  72. The company I am working for said that 401(k) contribution can be based on only straight time pay! The company I previously worked for allowed me to contribute on gross earnings. Has the law changed, or is the current employer wrong?

  73. I have several Roth IRA conversions, each with different custodians. When I spoke to an IRS representative, he maintained that the total amount of the conversions is always available. He told me that at any time I can take out what I had paid taxes on (wi

  74. Can 529 plans be used to transfer wealth to other family members if the original beneficiary does not use the money?

  75. How do I sign up for the saver's tax credit?

  76. I have a small business, and I'm considering setting up an SEP IRA. What are leased employees? Does this term refer to outside contractors who receive 1099-Rs? If so, how would the 5305-SEP need to be worded to make it acceptable to the IRS?

  77. My spouse and I now earn more than the dual-income limit specified by our IRAs. What will happen to our previous contributions?

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

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

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

  81. After receiving a required distribution when and how are my taxes affected?

  82. Why should investors pick less risky investments as they approach retirement?

  83. I'm a teacher. Which is better for me, a 401(k) or 403(b)? What is the difference? From whom do I get these plans?

  84. I work for a university, and I have a 403(b) with TIAA-CREF. But TIAA-CREF says I cannot transfer money to another provider. Can they prevent me from transferring my money to a better investment?

  85. How do I go about opening up a Roth IRA?

  86. I am over 60 years old and have a Roth IRA to which I have made contributions for more than five years. Are all distributions tax free?

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

  88. 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

  89. 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?

  90. 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?

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

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

  93. What are the exceptions to the early distribution penalty for a non-qualified Roth IRA distribution?

  94. I failed to distribute an inherited 401(k) that was found in an audit. What happens now?

  95. What is the difference between a ROTH, SEP and Traditional IRA?

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

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

  98. 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?

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

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

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