If you start a new job, you’re new employer may not accept a 401(k) rollover from your previous employer. One option is to roll your 401(k) into a self-directed IRA. If your 401(k) has done well, you may be able to leave it with your old employer.
Employer Limits 401(k) Contributions
Employers are allowed to set their own limits on how much you can contribute to a 401(k). Even though the limit for 401(k) accounts has increased, you may not be able to contribute that much in an employer-sponsored 401(k) plan. A Roth IRA might be a way to build retirement funds outside of your…
Value Of Old Stock Certificates
An old stock or bond certificate may still have some value to collectors. There are several resources for researching your old stock certificates to learn more or find out if they have any value. A quick Google search can also provide information about a company you still have a stock certificate…
What’s My Investment Objective?
Investment companies often want to know what your investment objective is. Your investment objective depends on your age and what they money in your investment is for. At a young age, investment objectives are often aggressive because you have a long time ahead of you to save.
Best Investments After Drawing Retirement Funds
A financial planner can help you make investment decisions when it's time to draw on retirement funds. Shorter-term investments might be wise to ensure that money is available on short notice. Mutual fund investments will also allow you to have access to the cash if needed.
ThinkGlink Radio Show for Mar 12, 2009
Today Ilyce filled in for Clark on the Clark Howard Show. Ilyce answered questions about how to invest an inheritance and how to pay off a mortgage, along with lots of other personal finance and consumer advice topics. Listen to the show here, or download the podcast here or from iTunes.
A reader sent me this question this week:
Q: I have a growing concern that the Obama administration will seize all 401(k) accounts as a "fix" for social security. The Democrats in Congress were talking about doing this as recently as October, 2008. Am I being paranoid? What do you think? Should I be…
Target-Date Mutual Funds For Auto Enrolled 401(k) Plans
In recent years I've heard that employers have started to auto-enroll employees into 401(k) plans. It's great to know that employees still have a say in where their money goes. I guess the assumption is that people who don't pay attention to their pay stubs won't notice if some of their money gets…
Real Estate Investment Trusts Lose Value
The National Association of Real Estate Investment Trusts recently released some new data about REITs.
A real estate investment trust, or REIT, is a way for investors to diversify into real estate without becoming a landlord. REITs own residential and/or commercial real estate and some specialize in…
The Ilyce Glink Show March 1, 2009
It's been another rough week in the financial world:
GDP shank 6.2 percent in 4Q 2009. It's the biggest drop in 25 years.
New claims for unemployment rose to 667,000, the most in 27 years. Continuing unemployment claims rose to 5.1 million (topping the 1967 record). A year ago, continuing unemployment…
David Moffett, CEO of Freddie Mac, announced his resignation today.
Freddie Mac is one of the two government sponsored entities that buys mortgages from lenders. Lenders rely on Freddie Mac and Fannie Mae to buy these mortgages to get more money to make additional loans.
Moffett said he wants to get…
Questions On 529 Savings Plans
Are there tax penalties on a 529 plan if your child doesn't start college by a certain date? Is a 529 plan the best way to save for college? Are contributions to a qualified 529 plan deductible? These questions and more about 529 plans are answered here.
How do you make decisions on investing or spending an inheritance? Is it better to receive an inheritance or a gift? How can you ensure your inheritance is protected? We answer questions about what to do when you've received an inheritance.
Questions About Investing In Bonds
Are bonds a good investment for a senior? Where can I learn more about bond funds? What happens to corporate bonds when the company files for bankruptcy? Here are answers to several questions about investing in bonds.
You generally cannot write off stock losses in an IRA retirement account. You also cannot make up for a stock loss in a Roth IRA retirement account. The goverment doesn't allow you to make up for bad investments.
When choosing funds for a 401K retirement plan, you can use a variety of planning programs on the internet: Morningstar, U.S. News & World Report or Quicken. One of the top investment choices for a retirement plan are mutual or index funds. Vanguard is the oldest of the index funds and is the…
When setting up a retirement plan, you should always be sure you have a diverse set of investments. You should never put all your retirement money in one place, like an employee stock option program. That is dangerous given the economy. Instead, you should put money in a Roth IRA or a conventional…
If your employer's 401K retirement plan's only option for investment is an expensive 6% front load fund, you should gather your colleagues together and demand better choices. Do some research and identify other places to invest your cash. Then petition your employer to make this change. Once this is…
You can use your 401K retirement plan to help save for college by rolling the money into a Roth IRA. The money in a Roth IRA grows tax free and you are able to withdraw your earnings after five years to pay for tuition expenses. A Roth IRA is also a good way to save for college because it keeps the…
If you want more control over your 401(K) retirement savings, think about rolling it over into a self-directed IRA. Open a self-directed IRA for your retirement at any financial institution and have them do an electronic transfer so you don't "touch" the money. Then you will have to decide on where…
Investments For Retirement Savings
Deciding how much to invest for retirement can be tough but www.money.com has a calculator that can help with your financial planning. If you want to talk to someone about financial planning for retirement, you can call 888-FEE-ONLY for a help. If you contribute regularly to a 401(K) or IRA and are…
If you have a small business, a Simple IRA might be the right choice for a retirement plan for your employees. You can set up a Simple IRA on your own. First check with a financial institution to see if they offer Simple IRAs. They will offer lots of investment opportunities for your employees.
Universal Life Versus Term Life Insurance
If you're thinking about buying life insurance, there are several policies to consider including a universal life insurance policy or cash value policy and term life insurance. With a universal life insurance policy, you pay over time and part of the premium goes into a savings plan with little…
To set up a Roth IRA, you open an account with an investment company or bank. The minimum investment depends on where you open your account - it could range from $250 to $1,000. Then since a Roth is just a type of retirement account, you have to invest your money in stocks, bonds or index funds. Or…
Investing in Roth IRA For Child
Is an index fund the best way to invest in a Roth IRA for a teenager? Ilyce says index funds are easy investments to maintain within a Roth IRA. But in order for a teenager to have a Roth IRA, he must have a job so he can invest his earnings, because the retirement account takes after-tax dollars.
