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 work part-time or freelance, you are still eligible to open a Roth IRA and contribute up to the amount earned in a given year for your retirement. If your company does not provide a 401K retirement plan, you may be eligible for a conventional IRA. A good place to open up a Roth IRA is with…
If you have money saved in a 401K retirement plan, you may be able to take out a loan on that money. However, if you are less than 59 1/2 years old, you will pay a penalty on the amount plus taxes. Avoid taking out a loan from your 401K retirement plan to pay down credit card debt. If your 401K…
If you've maxed out your 401K retirement plan at work, you have a few options for opening an IRA depending on your income level. You're only allowed to contribute to a conventional IRA if you have a low income. To open and max out a Roth IRA for retirement, your income has to be under $95,000 if…
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.
Where To Find Employment Caring For Retirees
In retirement, people tend to no longer stay in one geographic area. If you're doing a job search in the field of geriatrics and aging, states that are becoming magnets for retirement centers include Florida, Nevada, Arizona, New Mexico and Washington state. But you should also be able to find…
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.
Buying a condo might bring more cash flow to these retirees, but renting might be even cheaper. Because retirement might not bring in much income, taking on a mortgage on a condo could be risky.
Reverse Mortgage Possible Only For Nearly Paid-Off Home
As you get older you may be trying to think of ways to supplement your income. One way to supplement income in retirement is a reverse mortgage, but that works only for homes that are nearly paid off. If you still owe money on a mortgage for your primary residence you won't be able to get a reverse…
Adding An Elevator To Your Home
As baby boomers are entering retirement, more people are trying to make their homes work for them. Instead of moving to a smaller home or even moving into a retirement home, people in their 30s, 40s and 50s are following a trend called "aging-in-place." They are taking their home renovation projects…
Retirement Planning: Prepay Mortgage To Buy Retirement Home
Can you plan for retirement in the near future by selling your current home and using the equity to buy a larger home? It might be smart to stay in your current home and plan for retirement by prepaying their mortgage so it's paid off by the time they retire. Then you can buy the retirement home of…
Retirement Planning: Refinance Mortgage For Property Financing?
A couple is 5 years from retirement and asks Ilyce whether they should refinance their existing home to finance the purchase of property that they will eventually build their retirement home on. Ilyce suggests holding off on refinancing their existing home and buying the vacant lot, because they…
Retirement Home, Good Investment Prior To Moving
When selecting a home for retirement, make sure the property is a good investment, especially if you're buying several years out. A couple wants to buy a retirement condominium in a place they take vacations now, but they will not be moving for 15 years. Ilyce cautions the couple to choose their…
Employers Delay Retirement Plan Features
A new study finds that while employers don't necessarily plan to cut back on current features in their 401(k) plans, they do plan to delay enhancements, citing costs
Among those employers that don't currently offer automatic enrollment, only 25 percent are likely to add it for new hires, and just 15…
Debt Reduction: Pay Off Your Debt And Save For Retirement
Even people with a hefty amount of debt can pay it off and save for retirement. Take a look at your finances and look for places where you can reduce spending, pay off debt, and save for retirement. Some ways to pay off your debt and save for retirement include refinancing your mortgage, selling…
Sellers Don't Want to Sell Property to Developers
A couple is considering selling part of their 22-acre property to fund building a new house for retirement. They prefer not to sell property to developers. Is avoiding selling property to developers possible? They have many different options for the property and how to get the most money out of the…
Home Buyers Pay Cash For New Home
A retired couple would like to pay cash for their new home. Ilyce is all for seniors reducing their daily living expenses, she suggests paying cash for the house and opening up a home equity line of credit. By paying cash for their new home and taking out a home equity line of credit, the home…
We got a call from Vicky, whose 403(b) from an old employer was rolled over to a 401(k). She then got a 1099 for the annuity. She's wondering if that's normal, since she didn't get a 1099 from any of the other accounts that got rolled over.
According to one EA who emailed me, receiving a 1099R is…
