Answers and Guides from Top Financial Advisors

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Janet - Your best bet is to contact the HR department at your former company. They should be able to answer your question(s), or refer you to the plan administrator. Good luck! Brian Pinkston, CFA, CFP® Financial Advisor ...(more)
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Peter C. Karp Level 20
Walter You will need to contact your HR Dept. to find out if your plan allows for loans and the details will be in your Summary Plan Description document. If a loan is allowed it is usually for a minimum amount of $1,000. The maximum loan amount allowed ...(more)
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Daniel Glanville Level 10
I agree with my colleagues, that you need to make sure you can take a withdrawal or do a rollover. If it a 401(k) with an old company this should not be an issue. However, if it is with a current company you will have to check the specifics of your company ...(more)
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If you roll over your 401K to a brokerage account set up as an IRA rollover account, almost all investment options are open to you...mutual funds, exchange traded funds (ETFs), options. There is one restriction...the IRS does not allow borrowing from ...(more)
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Are you looking to roll out of your 401k plan all together and go to an IRA or are you just looking for other options inside of your current 401k? If you want to roll out of your plan, your plan must offer non hardship withdrawl and then you can roll ...(more)
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I would strongly consider rolling your current 401K account into a VOYA IRA for starters. If you are satisfied with the portfolio mix, rate of returns and institutional pricing, then remain in that account. However, this will give you time to research ...(more)
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John Essigman Level 14
Joe, Very sorry to hear about your troubles. Larry makes some very good points assuming that the trustee is serving your best interests. Sometimes banks and trust officers don’t do the right thing but a trust gives them broad powers and discretion that ...(more)
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You should receive statement at least quarterly, with your balance information, as well as phone numbers to contact Human Resources. If you have not received a statement recently, maybe the custodian does not have your current address if you have moved ...(more)
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I want to congratulate you on your recent marriage. A will is an important first step. Please find a local lawyer by visiting http://www.lawyers.com/, and also have a Financial Professional review your Life Insurance since you have a wife who may come ...(more)
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Larry R Frank Sr Level 18
I'm sorry to hear you're having problems Joe. Trusts are written with specific instructions as to when and how you may get money from the trust. It is not all available for anything at anytime. Trusts are not simply a pot of money you can call your own. ...(more)
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Barbara, The short answer is yes you can do part in each year. As has been stated above it would be best if you met with a professional who could help you to figure this all out. One thing to consider about delaying part of your RMD into next year is ...(more)
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Barbara, as you can see, the way you phrase the question can be confusing. The rule for RMDs is that in the year you turn 70 1/2 you have to begin taking distributions. But for that first distribution you can delay all or part of the distribution until ...(more)
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Congrats on your recent nuptials. Wills are important and I suggest finding a lawyer in your area that can help you with this. It is much easier and cheaper to do a will online , but you leave yourself open to someone contesting the will. A contested ...(more)
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If I understand you correctly you are trying to split one year's RMD amount across two calendar years.. Unfortunately any RMD that is taken is taxable in the year the distribution is made and attributable to that year's RMD requirement. You have until ...(more)
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Larry R Frank Sr Level 18
RMDs, at first, may be confusing. You must begin taking RMDs by the end of December (I don't suggest waiting this long until the last minute because any paperwork delay will result in you violating the rules) the year you turn 70 1/2. You must take each ...(more)
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