IRA
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Financial Planning?
Asked by A.G. from Chicago
on June 1, 2012
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Ugh!!! We have got to get on a financial plan. I have figured out that my mind does not like the term "budget"--it sounds so restrictive to me. Anyway, . . .
We ...
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- We have not seen a financial planner yet either since we know a few that were mechanics or engineers a few months earlier and took a course and now do not seem qualifi...
- talk to a financial planner....a reputable one in your area...dont take advice from here. the finacial planner can plan u down to college, retirement, and have exttras...
- Here is my disclaimer - I am a financial planner. I am also Series 7 and 66 licensed (I can sell stocks, bonds, mutual funds, and managed accounts, REITS, etc.). It ...
Can You Help with Money Saving Tips?
Asked by A.H. from Chicago
on October 21, 2008
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My retirement savings just took a major nosedive with the recent stockmarket drops so I am going to need all the help I can get with saving money. Is there one major ...
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- Hi A., Things we have done: -Switched to CD One Price Cleaners instead of using regular drycleaners for almost all of our clothes, only $2.29/item, even a dress and ...
- Sounds like there's lots of good advice. Skimming through, however, I didn't see anyone put down http://www.freecycle.org. This, and other swap-type groups help peop...
- Did you do the typical things they suggest on money saving websites? -Change to fluorescent coil light bulbs -Lower your thermostat a degree or two in the winter- ...
Financial Questioin
Asked by H.M. from Detroit
on September 15, 2010
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Like almost every other person out there my husband and I are in a financial bind. We have a ton of credit card debt. My husband wants me to cash out my IRA of which...
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- Both are bad ideas. Doesn't matter "how much of your own money" you put into it--it has retirement value and to use it is unwise. Also cashing out or usig part of a ...
- Haley, If Dave Ramsey seems too drastic for you and your husband, you might want to check out Pam Young's book "The GOOD Book - Get Out Of Debt". Here's a link: ...
- You might look into borrowing from the 401ks instead of cashing out. I believe the penalties are pretty steep to cash out...like 30%. Get some sound advice.
Emergency Fund/401k/College Fund/Savings
Asked by B.L. from Fresno
on September 15, 2012
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We put money into our emergency fund (trying to get it at 6 month living expense), 15% into 401k and try to max on our Roth IRA (10k/year is max), and then we put $50/...
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- You're lucky and doing it right.....we are strapped living paycheck to paycheck and saving nothing! Not proud of it, but I am currently unemployed and my husbands com...
- I personally would get the emergency fund funded before putting so much into retirement accounts. A huge retirement account is great for when you retire, but if someth...
- You all make way more money than us! We do 15% on retirement fund that is automatically taken from my husband's check and about 10% on savings and that's it. It eats a...
529 College Plans
Asked by E.K. from Dallas
on August 16, 2007
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any suggestions on what plans are good? I've been researching one from Nebraska and Alaska, but wanted to get some suggestions. Also, is this plan better than a Colle...
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- Hi E., I just opened two 529 plans for my sons. We went with TD Waterhouse (in Nebraska), which is who my husband has his retirement accounts with. We were referr...
- We went with a 529 through Edward Jones. We have a great guy we've worked with for several years. He also has our IRA's and everything else. We prefer the 529. ...
- We have Coverdell funds for our children and find that they were the best deal with the most flexibility.
Saving for Your Toddler's College Fund! 529, Gerber Life, Etc???
Asked by J.A. from St. Louis
on February 11, 2011
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Any suggestions on what you and your family are doing?
While my parent's paid for about 60% of my college career, they hardly saved at all and left both myself and...
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- Hm, no savings for kids. We own properties (one paid off) and plan on buying more as years pass. Come college time, if kids don't get scholarships then we sell a prope...
- Missouri's MOST plan is one of the top five best plans in the US. Not sure why you would look anywhere else. Oh Lola, we thought the same thing about private sch...
- Honestly your financial planner is right. There are many ways to finance a college education. You can't borrow your own retirement. While "maxing out" your retirement ...
Who Do I Go to for This? Seeking Possible Financial Advisor
Asked by K.P. from Kansas City
on July 11, 2008
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I am seeking someone who can teach me about financial issues. Right now my husband and I could die and I don't know what would happen to our home, our child etc. I kn...
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- I highly recommend Martin Meyers- financial planner with Edward Jones. His number is ###-###-####. Our friends recommended him a few months ago. He is by far one o...
- I would recommend that you visit with a couple of different folks and learn about their particular philosophies and values. It is important to take a look at the whole...
- We used a group called Lighthouse investments (I know it is lighthouse but not sure about the investments part). The financial planner we saw was Rick Bain. We set up ...
Retirement Investment Advice
Asked by A. from Dallas
on October 16, 2008
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My husband's job offers the Fidelity Advisor SIMPLE IRA and so I wanted advice from you smart mommas on if this a good way to save for retirement. Thanks, we're new t...
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- I agree - talk to a financial planner about it. I'm not a financial planner, but here are the things I, personally, would look for before investing in my employer's r...
- Be careful about using an insurance agent for financial advice, they often use just their life insurance products and you will spend more than you invest for insurance...
- A.: My husband is a financial planner with Northwestern Mutual. He would love to sit down and talk with you about your retirement plans. Give him a call at ###-###-...
Need Easy to Read Guide for 401K Info, Roth Iras, Etc
Asked by S.J. from St. Louis
on December 17, 2009
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My husband for Christmas would like a book or guide explaining the difference between all the available investment possibilities, most notably Roth IRA's, 401K, etc. ...
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- S.- This is sooooo smart. I was a financial advisor and so many people didn't take care of this. There is a "Wall St. Journal Guide to starting your financial life....
- Dave Ramsey has some great books on investing/saving
- You can go to IRS.GOV and look at publication 590. This has a lot of information about IRAs and Roths. This is free of charge might be a good place to start. Also m...
Retirement
Asked by J.G. from Chicago
on July 8, 2012
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Do you really try to save for retirement? Or do you put off saving to buy things in the NOW?
I have a friend whose kids want for nothing. They must own over 200 mov...
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- She just lives in the "now", doesn't she. Reminds me of the old story of the grasshopper and the ant. She is one of those who just hopes that someone will take c...
- it wasn't an option for us for years. there was just nothing left over paycheck to paycheck. we started our 401K in our early 40s. it got cut in half last year. i don'...
- Since I want to retire eventually, I absolutely save for retirement I also save for college funds and short-term needs/wants. I also believe there needs to be a hea...
