Proposed Trump Regulation Rollback Should Scare Even Supporters

The Trump administration has been vigorous in wanting to cut regulations. That’s not always a bad thing. But this suggested change really caught my eye. President Trump has signed a memorandum which clears the way to eliminate the fiduciary rule for investment brokers. The fiduciary rule may sound like something boring but every person saving … Read more

The Simple Dollar’s Picks for Best IRA Account in 2016

This article was originally featured on The Simple Dollar The best IRA Account for each individual will vary based on a host of factors as well as personal tastes, which is why we highlighted several different companies in this post. Here are the 6 best IRA account options for 2016: Best Overall: E*TRADE Best for … Read more

Are My Retirement Funds Safe From Creditors?

Q. I understand that in certain circumstances IRA and 401(k) money may be protected from a lawsuit. However, if a person is retired and has rolled over their ERISA plan to an account with a financial institution, are those funds still protected? A. Generally speaking, yes. The laws can vary by state. “Under federal law, … Read more

Help! Credit Card Rewards Put Me Over the IRA Contribution Limit

What could be more painless than saving for retirement by having cash-back rewards automatically swept into your account? A card linked to your Roth IRA could automatically get a boost from rewards, and you would never miss the money. Except that the last part of “set it and forget it” can come back to haunt … Read more

How Smart IRA Planning Can Help You Pay Less For College

With college expenses at some of the best schools now exceeding $ 60,000 per year, education-related expenses are often one of the biggest obstacles many baby boomers face when saving for their own retirement. For many families, planning for a college education goes hand in hand with IRA’s and retirement planning. Retirement Assets are Exempt … Read more

Should We Get a Debt Consolidation Loan or Borrow From IRA to Payoff Credit Cards? – Christine

“Dear Steve, CC debt 20,000. Mortgage 39,000. Equity about 300,000. credit score under 500. marrried one income $51,000. 4 kids in college. Turned down from first bank for refinance with credit payoff. Currently spending about $700.00/month on CC payments. should we continue to try to get a loan or should we take the money out … Read more

Unemployment and Parkinson’s Have left Us in Debt. Should We Use IRA Money? – Mary

“Dear Steve, Due to my husbands unemployment and reemployment at a lower salary and my very small salary due to Parkinson’s disease, we have built up a very large credit card balance. About $40,000. We are barely making ends meet. We have about $200,000. + in an IRA and my husband is 60. We were/are … Read more

Spouse suffers from severe depression. Should I cash out IRA funds to get mortgage to a manageable amount? – Sue

My husband suffers from severe depression and has lost 2 jobs in the last 2 years leaving me financially vulnerable. I need to plan my finances as if I were the only one bringing in an income. I have 2 children…1 in college with tuition costing me $25,000/year. I currently own a home worth $330,000 … Read more

Should We Drain What’s Left in the IRA to Pay The Mortgage? – Susan

“Dear Steve, My husband has a IRA account that he had transferred from his previous job, and it was not much. We took money out last year to keep our heads above water. Now we are down to only $15,000.00 in our account. We see losses everyday, and we need the money now to survive. … Read more

Cashing In IRA Early to Payoff Debt. – James

“Dear Steve, I recently got married and our combined debt load is significant, but manageable. I am able to put a little into savings each month, and I do have a small emergency fund. I am 30 years old and have been putting into my company 401k for more than 7 years. I am currently … Read more

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

“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 … Read more

I Was Told Not to File Bankruptcy Due to Severance I Might Receive. – Diane

“Dear Lewis, In May 2009, I was laid off. I had an appointment with a bankrupcty lawyer the day after I was escorted out (I had fairly high security clearance). She told me to hold off on the bankruptcy due to whatever severance I might receive. I held off and held off…and had a really … Read more

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

“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 … Read more

Should I Take Money Out of My IRA and Use it to Pay Off Debt? – Dan

“Dear Steve, Ok, here goes. I have spent the past many years (decades) coming and going from home; being away so much I never paid much attention to the bills. Recently I changed jobs and noticed my wife stressed out, upon investigation, discovered we owe $109,000 to credit cards. We almost own (still have a … Read more