Reader Question: For Opções Binárias em Portugal, I was able to give a portion of my yearly IRA distribution directly to an approved charity (my church) tax free. I have been unable to determine if this type of distribution will be allowed for 2013 tax year. Please advise and thanks. D.D. Answer: First of all, this is a great idea […]
Give Your IRA Away Tax Free – and Other Year-End Tax Strategies
Readers Asks Where to Invest Now?
Reader Question: I am 67 and retired in May 2012 with $20,000 in stock mutual funds. When things tanked in 2008-09, I lost 50%-60% and it stayed there two years plus. I since moved it to an interest-only account. Now, my question is: Should I do something else, rather than leave it in the interest only account? A.F. Answer: The […]
Winning the Credit Score Board Game
How much does your credit score really matter? I’ve heard everything from, “It doesn’t matter at all” to “It’s one of the most important parts of my finances!” Your credit score matters a great deal. If you have a poor credit score, you’ll likely find yourself unable to get credit at all except for possibly a […]
Helping Kids Help Themselves
Reader Comment: You recently wrote an article about how to get a State of Alabama income tax credit by donating to charitable foundations that support a better education for low income children who are currently stuck in failing schools. This recommendation should come with one large caveat. I was one of the original people who signed a […]
Are My Bonds Safe?
When people talk about stocks and bonds, many people intuitively associate ‘safety’ with bonds and ‘risky’ with stocks. While it’s certainly true that, in general, stocks are more volatile than bonds, bonds can be pretty risky under certain circumstances. I’ve found that a lot of people also find bonds to be confusing to understand. Let’s start with […]
Should I Move My IRA to My 401-k?
Reader Question: I have a traditional IRA account with a private investment group. This account was created after my former employer went out of business and I had to put the money somewhere. I consider the current administration fees to be too high. I calculate this to be 1.5% yearly. I am now in […]
Tax Law Changes Drive Need to Review Your Estate Plan
This week is Estate Planning Week all across the nation and we want everyone to know how important it is to have a properly drawn will and accompanying estate planning documents. Gerard Kassouf, president of the Estate Planning Council of Birmingham, has this to say: “Estate planning is important to every person. Proper planning includes determining […]
Should I Annuitize My Retirement?
Reader question: After 37 years in sales I plan to retire in 6 months at age 63. I will live off of my severance from a previous job for two years until I reach 65 at which time I’ll start Social Security of about $2,500 per month. My husband is age 70 and has a pension & Social […]
Just Say ‘YES’ to Free Financial Advice
In these times of economic chaos, people are not sure where to turn for help in navigating the financial headwinds. Well, help is just around the corner and it’s free! All across the nation, professional financial planners are celebrating Financial Planning Week by offering free advice to anyone seeking answers to their most perplexing questions. In addition, […]
Secret Strategy for Roth IRAs
Reader question: This reader had two questions: 1. Question: When you have to start taking annual amounts from your conventional IRA at age 70 ½, can you put that amount in your Roth IRA? Answer: No later than April 1st of the year following the year you turn age 70 ½, you must begin taking Required Minimum […]