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We have money saved in term deposits for a house addition. With the recent rise in costs, we have decided to postpone until maybe housing costs can come down again. Where would be the best investment for our money on a potentially short-term basis with currently such low interest rates?
Submitted Jul 19, 2022
I keep seeing these "be your own bank" advertisements. The little research I've done seems like they are utilizing a whole life insurance policy to do this. I am trying to figure out if this is a solid financial investment that would make more sense than possibly my 401K that fluctuates based on the market. Thanks, Matt McAllister
Submitted Jul 6, 2022
I work for the State of NE in addition to a retirement account, they offer the option for a Deferred Compensation Plan. If I want to contribute to that, I need to do so now. I am just not sure if it would be a good idea financially. I would contribute about $60/month with the option to adjust the amount after I have enrolled. Is the market good enough to even...
Submitted May 3, 2022
I'm a little confused by the answer to the following question I received from your company. My concern is related to taking the RMDs on the inherited account based upon my wife., which was 71 on the date of her death. If I have to take an RMD on the inherited account, can I use her age to determine the amount of the RMD going forward, or am I locked into taking the...
Submitted Jun 24, 2022
I will be turning 62 this year. Where can I start learning about my social security options and what is best for me to do since I plan to continue working full time and contributing to my 401(k)? How does Medicare work if I continue to work and have medical insurance through my employer?
Submitted Jun 24, 2022
credit cards--Do I close a credit card with a zero balance if I just opened another one? I no longer want to use the old one or should I put a freeze on it but leave it open. Which open is best for my credit score. I have a very high credit score, and I don't want to lower it.
Submitted Jun 21, 2022
My father passed away recently. How do I find out where the funds from his 401k went when he retired? I am the beneficiary on all of his accounts. The plan administrator did not include disbursement information regarding the recipient.
Submitted Jun 2, 2022
Hello Money Doctor, We are both 58 y/o. our gross income is $158,517 for 2021 Our tax bracket is 22%. Our monthly spending is approx $5000-6000 monthly. We have approx 1.4M IRA/403, $225, 000 Roths each, $145,000 Cash brokerage & wife has a $67,000 cash value pension. I'm retired since 2014 with a $5000 net pension for life and free health coverage for life.No debt...
Submitted Jun 18, 2022
Is it possible to add more to last years 401k (2021) this year before tax returns are due like you can with IRAs? I'm Married, but file separately I made about $140,000 for 2021 My wife made about $100,000 for 2021 Thanks
Submitted Mar 15, 2022
Does a transfer of cash from a canada bank to a united states bank result in a foreign currency exchange loss transaction that would be considered a section 988 capital loss...and be reported on IRS form 8949?
Submitted Apr 14, 2022

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