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[...] different ones over the years. While working you made it a point to take advantage of the 401k because of the match they were giving you. Now that you have left your employer (career change or possible retirement), [...]
[...] by goodfinancialcents on August 30, 2008 As a CERTIFIED FINANCIAL PLANNER™, managing client assets and investments comes naturally to me. The hardest part of my profession is [...]
Thanks for the inquiry. Unfortunately, that nice little benefit expired at the end of 2007. I had many clients take advantage; but, for some reason, congress did not extend that benefit. So now you are left to take the distribution, pay your tax, then donate to your preferred charity. You are allowed a charitable deduction if you itemize your return. Sorry for the bad news.
Regarding the SIPC. The coverage is $500,00.00 total With up to $100,000.00 in cash. What if you had $250,000.00 in cash in the acct. Would that be covered? Or if you had a total of $500,000.00 in cash in the acct. Would that be covered? It seems to be confusing. Please clarify. Thanks
It strikes me that it will be a rare person who will be in a higher bracket post retirement than prior. And therefore, few people who would benefit from a Roth 4019k).
Joe
Probably not in a higher, but still could be in the 15%-20% bracket. At least, that has been customary with most of my retiree clients. Also, the Roth 401k is most advantageous to individuals who make too much to contribute to a Roth IRA.
Oooh, nice logo. It’s good enough for me to hire him to design a logo for me as well… which I just did! It’s good to see the money staying in the personal finance community.
Improving your credit score is important, and the first step to take is to know your credit score. You could always get an annual credit report, or you could get your score for free at anytime with Thrive (a free online financial advisory), which can also help you to improve it as well.
There are scams out there that say they’re free but have hidden costs so it’s important to do some research – starting with maybe sending them an email to find out more. Don’t let scams discourage you from using some resources that are genuinely meant to help with finances!
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[...] different ones over the years. While working you made it a point to take advantage of the 401k because of the match they were giving you. Now that you have left your employer (career change or possible retirement), [...]
[...] 401k Rollover [...]
[...] by goodfinancialcents on August 30, 2008 As a CERTIFIED FINANCIAL PLANNER™, managing client assets and investments comes naturally to me. The hardest part of my profession is [...]
My wife, age 70.5, needs to take a withdrawal ($1950 min from one account so far)
Can she have that money sent directly to a charity and not pay any income tax on it?
Surely there are forms involved, but if we plan to contribute money throughout the year anyway, why not have the IRA monies work for us?
We would appreciate any advice regarding IRA withdrawals
Thanks,
Kurt and Karin Blumenthal
kblumenthal@comcast.net
847-533-3498
Kurt-
Thanks for the inquiry. Unfortunately, that nice little benefit expired at the end of 2007. I had many clients take advantage; but, for some reason, congress did not extend that benefit. So now you are left to take the distribution, pay your tax, then donate to your preferred charity. You are allowed a charitable deduction if you itemize your return. Sorry for the bad news.
Jeff Rose, CFP®
jeff@allianceinvestmentplanning.com
Excellent article. Thanks for the mention.
Regarding the SIPC. The coverage is $500,00.00 total With up to $100,000.00 in cash. What if you had $250,000.00 in cash in the acct. Would that be covered? Or if you had a total of $500,000.00 in cash in the acct. Would that be covered? It seems to be confusing. Please clarify. Thanks
Steve
It strikes me that it will be a rare person who will be in a higher bracket post retirement than prior. And therefore, few people who would benefit from a Roth 4019k).
Joe
Probably not in a higher, but still could be in the 15%-20% bracket. At least, that has been customary with most of my retiree clients. Also, the Roth 401k is most advantageous to individuals who make too much to contribute to a Roth IRA.
Very interesting article. You site your sources very well
Great advice! Thanks for the mention.
Oooh, nice logo. It’s good enough for me to hire him to design a logo for me as well… which I just did!
It’s good to see the money staying in the personal finance community. 
Improving your credit score is important, and the first step to take is to know your credit score. You could always get an annual credit report, or you could get your score for free at anytime with Thrive (a free online financial advisory), which can also help you to improve it as well.
There are scams out there that say they’re free but have hidden costs so it’s important to do some research – starting with maybe sending them an email to find out more. Don’t let scams discourage you from using some resources that are genuinely meant to help with finances!
[...] Carnival of Money Hawks [...]