Questions and Answers

The following are selected questions submitted by readers to our Personal Finance Community on Google+. Please browse through the questions below, or submit your own question here.

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How to combine my old 401(k)s into an IRA?

Question Hello, I am 40. I have two 401(k) funds one with $20k+ and another one with $400 from my previous jobs. In my current job I am not contributing to 401k Questions: Can I combine [...]

Can I take money out of my 401(k) without paying penalty?

Question The company I work for just terminated their 401(k) plan and suggested employees roll their funds over to an IRA. My question is can I cash out say 20% (to pay off debt) of my [...]

Should I refinance if I plan to pay off my mortgage early?

Question I am thinking about refinancing my mortgage but need insight. I purchase the home in 2011 on a VA loan at 4.375% for $336,000.00 (that includes all the fees. etc) I have excellent credit, I [...]

Can you draw unemployment and social security at the same time?

Question Can you draw unemployment and social security at the same time? Thank you, Larry Higdon Answer According to SSA.gov: Unemployment insurance benefits are not counted under the Social Security annual earnings test and therefore do [...]

Should I withdraw from IRA to pay mortgage for a few months?

Question The tough job market has hit me hard, but I have a job start in 3 months. That said, I am looking at having a hard time paying my next mortgage payment. I have $200+K [...]

I am retired. What should I do with my 401(k)?

Question I’m retired and still have a 401-k with my former employer through Fidelity. I went to a financial advisor thinking about rolling it over to an IRA and get invested to stocks or etc. However, [...]

Should I work as a salaried w2 employee or a 1099 contractor?

Question I started working for a company and they offered me $53 /hr on W2 or $55 on 1099. That employer is suggesting me to take salary on 1099 so that I can save more taxes [...]

Do I report income from my websites as one or separately?

Question I really could use some simple guidance on how to approach my tax requirements in Texas! I currently own my primary store: at http://www.yarnhookers.com and 8 more at Etsy, Bonanza, Atomic Mall, CraftIsArt, Ecrater, Bluejay [...]

Should I Borrow from My Dad to Pay Down Some Debt?

Question I’m 26 and am in a lot of debt, ~$24000 and recently my father offered me the opportunity to take out a line of credit he has to pay off my debts and I will [...]

Mortgage Refinancing and Real Estate Investing…What Should We Do?

Question My wife and I moved into our townhouse in 2006. It is about 1075 sq ft. We LOVE our neighborhood- we can walk to everything one could need, a rarity in our part of the [...]

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