investment ira
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Investment Broker Advice
Asked by J.S. from Dallas
on March 12, 2007
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My husband and I will be having our first initial consultation with an investment broker within the next couple of weeks. I'm pretty much on top of our finances, but ...
Answers
- In my opinion, it's totally worth it. I've always been pretty good at keeping all our finances together, but a professional can help you get everything together. We ...
- When I left my last job I had a 401k through the company. Since I wasn't going immediately to another employer, I rolled my 401k to IRA but kept the (almost) same inv...
- J., I am in the financial industry so trust me on this advice...I do not work with investments but there are guidelines on my company's website that you can find usef...
Husband Made Bad Investment Decision
Asked by S.J. from New York
on October 13, 2011
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Recently my husband made some bad investing decisions in my 401K and it's pretty much gone. I'm beyond feeling angry -- especially since he knew about it and never di...
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- I also wonder how he made the decisions. If you allowed him to, then it's partly your responsibility. And all of it was lost between last statement and this statemen...
- There are a lot of unknowns... How long have you been married? Did you just meet the guy? How did he obtain access to 'your' money? Did you build this 401k up befo...
- I would be ticked off beyond belief! Thirty years worth of saving your hard earned money...not mentioning financial security. I'm just shaking my head right now wi...
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...
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.
Educational Savings for Your Child's Future
Asked by J. from Memphis
on January 30, 2008
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Has anyone started an educational investment account for their child/children?? I was just wondering who you went through, and if you are happy with the service. I'm...
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- I started a Upromise account for my daughters 6 years ago. What Upromise does is give you savings toward college when you buy items from participating companies. You...
- Last year I was faced with the same problem. Not sure which plan to go with, I spoke to some of the employees at my bank. I met with an investment specialist that is...
- We went with a friend of ours who is an Investment dealer. Her name is Lana K. Caldwell-Wargo and she works for PFS Investments ###-###-####. We were looking into ed...
Thoughts on the TX Tuition Promise Fund?
Asked by J.L. from Dallas
on August 18, 2009
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Hi everyone, it sounds like a good idea - invest in your child's college education now and lock in this year's tuition costs, because by the time your child is 18 yo t...
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- We did a 529 plan back when daughter was little. She can go anywhere she wants to go, in or out of state. I just depends on what your specific needs are and what...
- I don't know on this particularly. Maybe there is a good accountant out there. But invest or set up some type of savings plan now. The years fly by and anything you...
- I did not read you other responses. I will tell you that if it isn't backed by the state then I wouldn't do it. Also, One thing I have been told these last few yea...
What Kind of College Funds Are Best?
Asked by K.G. from Boise
on June 20, 2009
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I want to start an investment fund for my daughter (5 months) but just don't know which one is best - a 529, just a regular money market account....What if she gets a ...
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- K. G, The 529 is going to be your better bet. It is more likely to increase in value compared to the interest rates you are going to earn on a money market account,...
- We use 529 plans for our kids. They give you the flexibility of many investing options and the gains are tax free. Some states give you a tax deduction for your cont...
- I would talk with your tax man--I talked with mine a little this spring, and I believe that 529 plans can be used for anyone in the family--so if one child doesn't go ...
What to Do with Monetary Graduation Gifts?
Asked by K.T. from Atlanta
on May 20, 2010
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My daughter is about to graduate high school and head to college in the fall. She is receiving a considerable amount of money gifts from family and friends. I would ...
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- Hi K., Monetary graduation gifts were originally intended to pay expenses at college. This may or may not be the intention here, but it would be a good idea to save...
- Depending on how much money is received, I'd either contribute to a 529 (if you have one) to go towards her college expenses, or I'd seek the advice of a financial pla...
- I agree with Mimi...i would save them to help her purchase books in the fall. Books are expensive!! I do think it would be okay for her to spend some of it on a nice...
Investing
Asked by M.G. from Texarkana
on September 26, 2011
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I have a 401k from when I was working. I am trying to figure out what the safest and most accesible place to put it is. I hope to go back to school when my children st...
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- Your 401(k) is NOT supposed to be accessible. It's a long-term savings vehicle. Please tread very carefully when considering accessing those funds. You will have to...
- If it is a 401 K, and if you acces it, you will pay taxes through the nose. 401K's are not to be accessed. There are special provisions in place that you can borr...
- Where is the money now? Most employers make you transfer it when you terminate. Most people roll it over into an IRA. Depending on the structure you can have ju...
