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Home > Author Archives: Paul Bennett

Author Archives: Paul Bennett

Paul Bennett

Are All Investments Just a Scam?

justball-144x125

“Dear Paul, My wife and I cashed out the ROTH, 401 and 403. We bought five rentals and GROSS 12% on the investment. We have over 75% of the debt paid off. My wife quit her jor two years ago and I work part-time. We do are our repairs. Too easy..not sure we more folks don’t do this. Not to ... Read More »

    Should I Be Paying Myself First?

    justball-144x125

    “Dear Paul, Can I run my vanguard index fund assett allocation by you? Also planning to move and buy a more expensive home and would love some guidance there. So, I’m still sort of polishing up the exact percentages, but contributing roughly $4-5k each month approaching $250k total in our Vanguard taxable investment account this year and $50k in the ... Read More »

      Should I Take Money Out of My 401k or Roth IRA to Pay My Student Loans? – Seapar

      justball-144x125

      “Dear Paul, Annual Gross Income: 66,000 401k balance: 16,000 Roth IRA balance: 6,000 Savings: 5,500 Stock: 1,500 Grad Student Loans: (72) payments left of one $520 combined payment per month on total $32,500 balance on the following (so, $5,000 interest would be paid over the life of the loan at this payment rate). Loan 1 Direct Unsub $5,500 balance, Interest ... Read More »

        Should I Use My 401(k) to Pay Off My Mortgage? – Edi

        justball-144x125

        “Dear Paul, My 401 k has lost 1.7% this year. I am 51 years old. I am wondering if I could use my 401 to pay off my mortgage. I have about $100,000 in my 401 and owe that on my house. I would be debt free. Should I use the 401 to pay off my mortgage Edi” Dear Edi, ... Read More »

          Should We Borrow Money From Our 401K to Buy a Dependable Car? – Mickie

          justball-144x125

          “Dear Paul, Work car is on its last leg..Husband needs transportation 45 miles to work and 48 back. Need dependable car. Husband wants to go into 401 K to get money for car….wife does not…we are in our late 50s and feel we should not touch it. Should we borrow money from 401 K to buy a dependable work car ... Read More »

            Can I Take Money Out of One IRA, 401(k), 403(b), or Roth IRA and Roll It Into Another Account? – Dave

            justball-144x125

            “Dear Paul, Hello, I am unemployed and need money…fast!!. I have several different retirement accounts: With “Investor-A”, I have both, a Traditional IRA & a Roth IRA With “Investor-B” I have both, 401k & 403b accounts (100% vested)… and I also have a SEP-IRA Interesting scheme… do you think this will work..?? I know you cannot borrow from the IRA ... Read More »

              Cashing Out My 401(k) to Pay Off Debt. Is It a Good Idea? – Paul

              justball-144x125

              “Dear Paul, I work for the federal government and make about $90K. My wife makes about 45K (no benefits) after losing her corporate job in 2003. I am 47 with an MS, she is 52 with a BS, married 23 years. I have to retire from my current job at 57 so we both know we will be working at ... Read More »

                My Deferred Compensation Plan Won’t Let Me Take Money Out. – Susan

                justball-144x125

                “Dear Paul, Last year I had an income downturn. I have credit card debt that is drowning me and I struggle to pay everything each month. I now have some medical expenses and have had some family emergencies that have created more financial stress. I have a deferred compensation fund through my job that has more than sufficient funds to ... Read More »

                  What Do I Need to Know Before We Take Money Out of the IRA to Pay Our Credit Cards? – Jayme

                  justball-144x125

                  “Dear Paul, CC debit and trying to find the best way to handle the situation. We have about 55k in cc debit and have spoken with an attorney who said we make to much for chapter 7 but could go with chapter 13. My husband really didn’t like this route. I have an IRA with about 63k in it. Tell ... Read More »

                    How Should I Invest My Savings? – Mike

                    justball-144x125

                    “Dear Paul, Hello, Im a college student with $18,000 in savings. I need to know what to do with it both long and short term. They only debt I have consists of student loans. I have no credit card debt. Mike” Hi Mike, First off; nice job saving up funds, you are the exception rather than the rule, particularly for ... Read More »

                      My Active Duty Military Husband Says We Should Not Start Investing Till He Returns From Being Deployed. – Barbara

                      justball-144x125

                      “Dear Paul, We are an active duty military couple (14 years in) with one child and gross income of about $120,000 (with pay and allowances) per year. I’m 40, he’s 34. I have a Bachelors in Business and have almost completed a Masters in Finance. We’ve had money issues in the past, but dug ourselves out back to having a ... Read More »

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