FAQs tagged as

Saving And Budgeting Retirement

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

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

  3. Why is Social Security running out of money?

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

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

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

  7. What pension benefits are available to military personnel?

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

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

  10. How do I retire?

  11. Why should I pay myself first?

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

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

  14. 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?

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

  16. 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

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

  18. How can I use layaway plans for budgeting?

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

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

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

  22. How do 401(k) loans work?

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

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

  25. 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?

  26. Why do you need an emergency fund?

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

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

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

  30. Should I collect early Social Security?

  31. What is the "stretch IRA" concept?

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

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

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

  35. How do I stop emotional spending?

  36. Which of the following accounts does ERISA cover?

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

  38. What is pension maximization?

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

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

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

  42. 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?

  43. What is cliff vesting?

  44. How do I use a conduit IRA?

  45. 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?

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

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

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

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

  50. What is the difference between a Traditional and a Roth IRA?

  51. 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?

  52. I want to purchase a five-year period certain single premium immediate annuity (SPIA) with my IRA account. I'm 53. Will the 10% penalty apply?

  53. Can I roll my 403(b) and 457 into other low-cost venders when I change jobs?

  54. I didn't earn any income this year. Can I still contribute to a Roth?

  55. I have two jobs. Can I contribute to two SIMPLE IRA plans?

  56. What types of plans allow catch-up contributions?

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

  58. I am in my mid thirties and have nothing invested for retirement. Is it too late to start contributing for a retirement plan?

  59. I converted my former IRA to a Roth for tax purposes in 1998, so even though the tax was paid over four years, am I correct to assume that this is now mine to withdraw, if I like, at no penalty? I am 60 years old.

  60. If an individual still has his or her former spouse as the beneficiary of an IRA, does the former spouse receive the assets upon the individual's death?

  61. My wife and I both converted our Traditional IRAs to Roth IRAs in Dec 1998 and have invested the maximum amount each year to date in the Roth. I am purchasing a new home in January. Do my wife and I each qualify for a one-time, tax-free $10,000 "qualified

  62. Upon my death, will the beneficiaries of my IRA be compelled to take the entire amount in the IRA as ordinary income, forcing them into unusually high income tax brackets?

  63. If an IRA owner dies after starting required minimum distributions (RMD) but the spouse is under 70.5, can the spouse roll over the IRA into his/her own IRA, and stop RMDs until age 70.5?

  64. I didn't record my Traditional IRA contributions. Is there a website that lists IRA contribution limits for past years?

  65. I have several jobs. Can I contribute the maximum to multiple employer retirement plans?

  66. Will I incur a tax penalty when making withdrawls from my IRA in excess of my SEPP?

  67. How can I reduce the taxes on my inherited retirement assets?

  68. I have a small business (LLC), which I operate part-time. I also work full time for a company and am enrolled in a 401(k) plan. Am I still eligible to make contributions to an individual 401(k) from earnings of my part-time LLC?

  69. What effect will a prenuptial agreement have on a 401(k)?

  70. Can I roll a Traditional IRA into a 529 college account for my grandchild?

  71. Can I roll over a profit-sharing plan to an SEP IRA account without suffering any tax penalties and liquidation of current positions held in this account?

  72. Can you have a 403(b) and also contribute to a 401(k)?

  73. Is my husband's ex-spouse entitled to receive my spouse's retirement benefits?

  74. I am the beneficiary of an IRA and a Keogh. Can I combine them into one plan?

  75. I am making after-tax contributions to an IRA. Will I get taxed again when I withdraw it (when eligible)?

  76. What is the five-year waiting rule for Roth IRAs?

  77. I own a small business. Can the SBO-401(k) work for me?

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

  79. How do I get credit for my retirement plan contributions?

  80. How should I estimate my income from fixed sources like bonds, CDs and stocks?

  81. I just opened an IRA. What can I do to help my money grow?

  82. Can I roll my 401(k) and/or IRA funds into a more liquid investment fund without penalty?

  83. Can I, without tax penalties, use the IRA I inherited from my father to buy a home that I will live in? He was 72 and had started taking small payouts on it.

  84. My Traditional IRA has been converted to a Roth IRA. Can I still make a qualified withdrawal as a first-time home buyer?

  85. Can a person who is retired continue to fund an IRA?

  86. If I participate in my company’s SIMPLE IRA plan, can I also contribute to another IRA in order to receive a larger tax deduction?

  87. Can I roll over my IRA assets to a sheltered Canadian plan?

  88. I am starting a limited liability company (LLC). I will be the sole member. Can I open an SEP IRA? How much tax-deferred money would I be able to contribute each year?

  89. I am in the second year of taking SEPP distributions from my IRA. Can I transfer some of the funds to a new IRA with different investment options?

  90. What's the difference between a savings account and a Roth IRA?

  91. I'm 70.5 and still working for my own company. Can I defer starting my required minimum distributions?

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

  93. Can I leave my pension to my spouse when I pass away?

  94. As a temporary resident of the US, can I withdraw funds from my Traditional IRA without penalty when I leave the country?

  95. I am considering taking a loan from my qualified retirement plan. What is the definition of a "reasonable interest rate"?

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

  97. When should I take my Canadian Pension Plan distributions?

  98. My certificate of deposit (CD) has just matured and I plan to contribute $10,000 of it to my current Roth IRA account. The person doing my taxes can't tell me why I can't make such a large contribution except for my low income - I am a disabled veteran on

  99. Can I fund a Traditional IRA, a 403(b) or a Roth IRA using pension money? I'm 56 years old. What limits apply if I can?

  100. What are the tax consequences of a Roth IRA distribution if the IRA holder is younger than 59.5?

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