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Read Past Q&As

Topic:  
I'm trying to decide if a lump sum payment is better than an annuity- two different options in a pension plan settlement. In a low interest rate environment, what factor should I consider?
Submitted Oct 8, 2019
Hi, I'm Ms. XXXX. I'm contacting you today because I would like to know what my best options are in regards to turning my financial situation around. I am not employed at the moment and was wrongfully terminated in July due to difficulties with health issues/disabilities. I have numerous bills, two loans, a huge amount of medical debt. And two children. I was also...
Submitted Aug 10, 2019
My mom recently passed. My dad is 93 and I have become POA. His income is SS and interest from CDs. My mom’s whole life insurance was about 20,000 which I believe is tax free. She also had annuities totaling about 320,000 which I’m thinking my dad will be taxed on. He owns 2 houses, no mortgages and doesn’t need the money to live on. What would be a way to...
Submitted Aug 4, 2020
I have an Archer MSA made in 2019 in the amount of $2000.00. How can I access this money?
Submitted Jul 16, 2020
Hi Money Doctor, I have a car loan that I am trying to pay off sooner rather than later. The car loan was for 23,585.00. The term loan was 72 months. The interest rate is 6.64%. I have 21 more payments. My monthly payment is 399.14. My question to you is if I make a onetime payment 2000.00 on principle only, how many months will that knock off the loan??? I...
Submitted Jul 20, 2020
Interest rates for cars are low. Should I pay cash for a $35,000 car, or finance it, and invest the cash? Thanks.
Submitted Jul 23, 2020
If I bought a laptop computer with funds from my savings account for my son in college, and my CPA put that on my taxes (toward the education tax credit), can I also submit the receipt for the computer to my 529 college fund to reimburse myself for it?
Submitted Aug 3, 2020
Hello- I am a self employed sole proprietor carpenter/general contractor in california. I have been shut down due to the covid shelter in place orders. I am wondering how to handle my $1,000 SBA EIDL grant that I got, as well as my $1200 stimulus check, and my unemployment income I am starting to receive. Do I deposit this money into my business bank account...
Submitted May 9, 2020
I will soon pay off my mortgage, but do not want to adjust my budget/monthly expenditures. Hence, I need a plan to invest $1,700/month. I am already contributing the maximum to 401k. I am over 50 and eligible to contribute to Roth IRA (~$583/mon), and can switch from FSA to HSA (net ~$117/mon). This leaves me $1000/mon and I am torn between two options: 1. I plan to...
Submitted Jun 2, 2020
I am wondering if I am able to take a loan out of my 401k? If so how much am I able to withdrawal and what are all of the details on it?
Submitted May 27, 2020

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