I'm about to reach age 59 1/2 and poised to begin making monthly withdrawals from my IRA. What questions do I need to ask the broker about the fee structure for doing this? If the fees seem unreasonable, now do I shop around for a new home? Would anyone like to recommend a plan they have experience with in this phase of an IRA?
posted by ackptui
on Aug 6, 2014 -
My mom's IRAs went to my dad. My dad put me down as beneficiary on all accounts yet bank is saying that there are no beneficiaries listed. I was there when all paperwork was signed. [more inside]
posted by stormpooper
on Jul 31, 2014 -
It's April and time for yet another retirement account question.
I am self-employed and want to open a new retirement account. Does anyone have experience with an individual 401(k) or SEP-IRA? [more inside]
posted by natasha_k
on Apr 1, 2014 -
I have about US$20000 to invest in a total stock index fund in my Roth IRA. What is the best strategy for this purchase? Should I just purchase it all at once now or over some set schedule? [more inside]
posted by sevenless
on Mar 5, 2014 -
What is the best way to move money between retirement accounts while I am currently employed so that I can access it and minimize penalties when I go back to school? (Many, many details inside) [more inside]
posted by rock'em sock'em puppets
on Feb 27, 2014 -
MeFites have always been pretty good at giving basic financial advice, like how to start saving, building a budget, getting out of debt, etc. I'm there already. I find myself in the surprising situation of being comfortable these days, and I'd like to know: what's next? [more inside]
posted by anonymous
on Feb 20, 2014 -
I would like to finally start saving for retirement! I'm thinking a Roth IRA is the way to go (unless you think otherwise and can tell me why), but I am a little confused/overwhelmed with how to proceed. A few snowflakes inside. [more inside]
posted by likeatoaster
on Feb 20, 2014 -
Am I understanding the USA's IRA laws correctly that all I really have to keep track of, in order to eventually (years from now) take money out without penalty or double taxation or such, is the amount of after-tax money I put into it over the years? [more inside]
posted by Flunkie
on Jan 4, 2014 -
If I live until retirement age, I don't want to be broke. I am 24 and I want to start saving for retirement now, but I’m unsure how to go about it. I’ve heard good things about Vanguard, but I’m looking for some personal anecdotes and solid advice on how to go about this. [more inside]
posted by Driven
on Dec 2, 2013 -
I am planning to invest for retirement (35+ years away) in a Roth IRA. I've always been told to have a mix of stocks and bonds in any portfolio, starting at about a 90/10 split for someone my age. Considering that I'm not going to touch this money for a very long time, wouldn't I be better off just putting my money into some low expense ratio index funds and skipping the bonds altogether? This seems to fly in the face of every investment advice I've ever seen, but I don't understand why. [more inside]
posted by wondercow
on Nov 23, 2013 -
I had two orphan 401(k) plans from old jobs that I rolled over into my (traditional) IRA this year. When I do my 2013 taxes, do I count those as part of my IRA contribution for the year? [more inside]
posted by EmpressCallipygos
on Oct 14, 2013 -
I am thinking of retiring early, relatively soon. Probably within five years, maybe much sooner. I want to make sure that I correctly understand various things, so I have several questions related to taxation, Obamacare, health savings accounts, IRAs, and SEPP. [more inside]
posted by Sock McPuppet, Jr.
on Jul 1, 2013 -
I was issued a check from my old company's pension plan. Apparently it needs to go into a retirement account. Can you help me understand my investment options? [more inside]
posted by karizma
on Jun 5, 2013 -
Currently I max out my Roth IRA, and I have a 401(k) with a small employer match. I contribute enough to be able to take advantage of the maximum match they offer. However, I still have money leftover I would like to invest. [more inside]
posted by nanook
on May 9, 2013 -
I am 28, have a $60,000 a year job in Accounting and expect to be making close to $100,000 in seven years (after that, raises more uncertain). I want to retire some time in my early to mid 40s. I have a wife who is 34 and works as a retail manager (making about $40,000 a year). I am planning on living off of 20% of our after tax income (excluding mortgage payments). We currently do not have a mortgage but are planning on a house soon.
We would like to travel at will and have the (option) of not working ever again. We also do not mind retiring in a cheaper location (Costa Rica, etc) to save on costs.
What investment vehicles should I be considering given that I am retiring early? What kind of jobs that are part time could a retiree easily perform? How much money should be going in employee 401k type programs vs. individual investment options and IRA contributions. [more inside]
posted by locussst
on May 4, 2013 -
I'm taking a new job with a very small company that doesn't offer a 401k. My spouse's job does offer a 401k. Based on what I see on this page
, with our income, we would not be able to deduct any contributions I make to an IRA, and we're not eligible for a Roth IRA. So what is my best retirement investment strategy? [more inside]
posted by primethyme
on Apr 25, 2013 -
I have been getting started with Vanguard, but spoke with an investment adviser today, and it all just seemed so much easier. I've spent hours trying to figure out what kinds of accounts to open, which offer tax deductions, what kind of investments to make, etc. It seems really tempting to just let someone handle this all for me, but I feel like I've never heard from people who are satisfied doing it that way. Countless articles I have read on the subject always make it sounds like someone is a sucker for paying higher management fees. [more inside]
posted by imabanana
on Apr 5, 2013 -
Hello! I'm in my early 30s and am finally financially stable enough to start socking away some cash in a Roth IRA (my employer does not offer any retirement plans). However, I'm a little worried that, with the market being at such a high, that something will happen due to all the current BS going on with Congress and the market will crash again, and I will lose a good chunk of money. Is this fear totally unfounded? Should I just start my Roth and hope for the best?
posted by emily37
on Apr 2, 2013 -
I know I should be talking to an financial planner/adviser about this, and I will do, but... I am British. I'm going to be living and working in the U.S. for somewhere between one and three years. I will probably return to the UK afterwards, but there is a chance I will stay in the U.S. forever. I would rate that chance at about 50/50. I would like to save a fraction of my income while in the U.S., and I would like those savings to grow. I would like to retain at least the possibility of suddenly withdrawing them if and when I leave the U.S. I understand there will be fees and taxes involved in such a withdrawal, but I would of course like to minimize them. And I would like to balance this possibility against the possibility that I will be staying forever, and should make a start on saving for retirement. [more inside]
posted by caek
on Mar 25, 2013 -
I am an expat and currently overseas (Dubai), and I want to open an IRA, how do I go about doing that? Is it even possible or do I have to actually be present there? [more inside]
posted by convex
on Mar 24, 2013 -
I recently rolled over my old 401K and Roth accounts through an old employer and held by ADP. Throughout the process, I was told the only fee would be the $50 "account transfer fee". But when the checks arrived half of my money was missing! [more inside]
posted by iheijoushin
on Mar 11, 2013 -
I'm filing my own taxes for the first time as a recent college graduate (using TurboTax -- so easy!) and I have a question with regards to my Roth IRA account.
In 2012, I graduated college and started a business. We didn't open for business until late November and I only paid myself $1,250 for all my work in 2012. I also opened a Roth IRA account and contributed $5,000 for the year. However, according to TurboTax, contributions to an IRA account cannot exceed earned income.
My question: can I simply report a $1,250 contribution to the IRA on my taxes and leave the $5,000 in the IRA? Will this get me in trouble? Should I merely take out the $3,750 and invest it in a different account? If noticed, could I just plead ignorance as my first time filing?
posted by masters2010
on Mar 3, 2013 -
I have a chunk of money just sitting in an account that doesn't even earn interest. I'd like to park it into an IRA, but would like to avoid spending many hours researching them. I'd love to just pick a place, transfer the money over, and be done with it. What bank/financial institution currently offers the lowest fees for the best results? Do you have one that you adore, and offers a good deal? [more inside]
posted by chowflap
on Jan 28, 2013 -
Everywhere mentions a 10% penalty, but nobody says whether this is pre or post tax, or whether it's added to your existing tax burden, or how these taxes actually get paid, etc. [more inside]
posted by tylerkaraszewski
on Jan 24, 2013 -
I have $5000 in my savings account, I already contributed the $2000 I earned this year. I want to contribute $3000 more from my savings at the end of this year but I am not sure if that is even allowed, since I didn't "earn" it.
But then, how would the IRA or my roth IRA holder even know? I didn't even make enough income to require filing for taxes.
posted by kopi
on Nov 7, 2012 -
Looking at cashing in a post-tax IRA for purchase of a second home. Realizing there are tax and penalties to be applied, this still may make sense. Because the IRA funds are post-tax, however, what exactly will be our total tax liability be? [more inside]
posted by flyingrock
on Aug 26, 2012 -
Need to pay off upcoming credit card bill. Can I use any of my retirement accounts to pay them off without incurring any fees? [more inside]
posted by AngryTypingGuy
on Jun 11, 2012 -
I have a lot of questions about Roth IRAs and being on the exemption borderline. [more inside]
posted by Talez
on Feb 12, 2012 -
Can I convert my regular brokerage account into a (non-Roth) IRA and claim the tax benefit? [more inside]
posted by jefficator
on Dec 16, 2011 -
I have $1000 in a 401k from a job at which I no longer work. The Personal Rate of Return right now is at -40%. Should I still roll this out into an IRA account or is there a benefit to keeping it in that 401k account?
posted by elif
on Nov 1, 2011 -
I don't know know anything about saving for retirement other than that you're supposed to do it. I've been trying to educate myself by reading blogs like Get Rich Slowly, but I'm still confused about what I should be doing (if anything) beyond my 401k. [more inside]
posted by anonymous
on Sep 18, 2011 -
I'm looking for recommendations on where to open a new Roth IRA. Looking for something with low fees and index funds. I could put in a chunk of cash if need be, but it would be great to find one with no minimum if I commit to a certain amount per month. Who have you all been happy with when it comes to customer service and ease-of-use?
posted by emily37
on Jul 5, 2011 -
What's the best Roth IRA to invest in? Does Fidelity waive the $2500 deposit if you sign up for monthly withdrawals? [more inside]
posted by modoriculous
on Jan 31, 2011 -
My wife's brokerage has just resigned as the guardian of her traditional IRA, due to lack of activity (she's a buy-and-hold type of person, and has more recently been contributing to a Roth IRA). The account contains a few stocks and some cash. She needs to make a decision fairly soon as to what to do with the account -- otherwise they'll just sell the stocks and send her a big check that she'll have to do something with in order to avoid tax penalties. What options should she be considering? (If it matters, the total is less than $20K).
posted by svenx
on Jan 20, 2011 -
I'd like to cash out a Roth IRA and make those funds available to my parents. But because early withdrawal is a No Good Terrible Bad Idea, I can't find much specific advice on the subject. I don't have a financial planner right now. You are not my financial planner, but perhaps you can help me check my work in figuring out the ramifications? [more inside]
posted by desuetude
on Nov 30, 2010 -