Dear Hank – My wife is a stay at home mom. With a traditional IRA she is eligible for the “spousal IRA.” Can she open a Roth IRA as her spousal IRA, meaning I can invest $8,000 of my income, with half of that in her name? – Peter from Mississippi Hey Peter – Good [...]
My mother is not very financially savvy – and when I try to explain anything to her; it can often times take the better part of an hour. It may be her age or the fact she never had any financial education being a stay at home mom, but I like to try to give [...]
Photo by: artct45If you’re between 20-40 years old, don’t do anything. Stay where you’re at, markets fluxuate. That is their nature and that should have been something you learned before you got it. If this is your first time hearing about it, don’t worry and more importantly, don’t run. Let the traders panic. That is [...]
How many of you use your 401k for your everything bucket? I’ve overheard friends and family talk about their 401k like their “all for one long term savings account” saying things like, “I’m going to use my 401k for my kids education” or “my 401k is used for both me and my wifes retirements” or [...]
Photo by: Seamus Murray Another reader request asked: My mother is 57, has no retirement $$$, and works full-time making about $25,000/year. I want to open a ROTH for her for Christmas, can I? – Shannon from Montana Hello Shannon – how nice of you to think of Mom for the holidays! Congrats to you [...]
Photo by: dave mcmtSo I’ve done it – after debating for about 2 months and trying to convince myself that I DIDN’T make a bad investment in getting in on this, I’ve come to my senses. I admit it, I made a bad mistake 5 years ago to purchase my Hartford Life Universal Life Insurance [...]
Photo by: emdot Only 0 days 5 hours 2 minutes left until Hanks Holiday Handout drawing! To make my goal of having my net worth be $1,000,000USD by 2020 I need to have a plan laid out. Yes it will change through the years, My wife and I will get raises; we won’t get the [...]
So after writing about how my Edward Jones ROTH IRA was invested in “B shares” of NFPBX and no response back from my Edward Jones rep questioning him if I could get out without paying the 5% deferred load or reallocate the funds elsewhere, I figured it was time to do something about it, and [...]
Short answer, yes. I was considering just leaving this at that, but I figured I’d add a few extra lines to better seal the deal. So in writing My Edward Jones ROTH IRA account is invested in B shares – Is that good? I researched that same question because I was fed up with getting [...]
I recently had the pleasure to interview Will Sugg, a fellow personal finance blogger that works towards his fortune with Self Directed IRAs. I am no professional in the arena, so he was very willing to answer the few questions I had about them – I hope they can demystify the Self Directed IRA questions [...]
