Sometimes, it’s easy to focus too much on money and forget why money is important. To me, the most important reason to have money is so that my family and I can thrive– e.g., to pay for food, shelter, clothes, medicine, health care, etc. — the basic living needs. Once these basic needs are satisfied, … Read more
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 those two funds in a traditional or Roll-Over IRA ? Do I have to pay taxes on April of … Read more
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 balance without paying the penalty and roll the remainder over to the IRA account? I have over a couple … Read more
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 not affect your receipt of Social Security benefits. However, the unemployment benefit amount of an individual may be reduced … Read more
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 in my IRA. I believe that I should withdraw money to insure that I pay my mortgage, however, a … Read more
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, with the quarterly fees that will be taken from my assets balance, will be a big money from me. … Read more
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 rather on W2. He asked me to start a consulting company so that my company expenses can be shown … Read more
Now that I’ve interviewed over 50 millionaires on how to become a millionaire, I can see what has worked for successful entrepreneurs. One pattern I have seen, which I want to share with you, is that you can start a million-dollar business on the side. If you already have a job, or are self-employed and … Read more
Have you ever asked yourself the question, “How can I become rich”? You’d be surprise at the number of people that never ask the question; for fear that they may be aspiring to a goal that they may never be able to reach. Most people find that wealth eludes them, only because they have not … Read more
For the first 18 months of my son’s life, my husband was the primary caregiver. I had a higher earning potential, and went back to work after only four weeks of maternity leave. However, filling a non-traditional gender role in a very traditional state proved difficult for my husband. As a family, our arrangement was … Read more