I asked a question of the IRS on their website - Some might be interested in the answer Dear Taxpayer, Thank you for your inquiry, I apologize for the delayed...
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scall0way
Mar 3, 2010 10:45 pm
OK, I just got RA'ed yesterday. Initially given an exit date of March 31, then just a few hours later extended to May 31, LOL. Plus I get the 6-months...
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DonW
donwshuper
Mar 3, 2010 10:56 pm
For those of you near 65 or older, and who may be considering converting most or all of your IRA-401K funds to roth be aware of a not so subtle gotcha ...
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madinpok
Mar 4, 2010 3:21 am
Some things to think about... Your financial planner should be a fee-for-service planner who will not profit from your taking the lump sum and investing it...
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lwbonne
Mar 4, 2010 3:22 am
Please be aware that the medicare B premiums are adjusted annually so in the case of the IRA-401K conversion, you will pay a higher premium the year following...
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DonW
donwshuper
Mar 4, 2010 3:32 am
Sounds like you are sort of on the right track- a few suggestions 1) Was the financial planner a fee for service type or did he have annuities, etc to sell ? ...
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copyright1997
Mar 4, 2010 3:35 am
Disclaimer: I am not a financial planner (well, except for myself). 2nd Disclaimer: My advise is worth what you are paying for it :) 3rd Disclaimer: My...
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dpudup
Mar 4, 2010 11:38 pm
Faced similar decision last fall (one difference married so I had to make decision on whether to stick with the surviving spouse 50% default or chose another...
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over20ibmer
Mar 5, 2010 12:06 am
Scall0way, You're eligible to withdraw without penalty from the 401(k)if you wish after you retire, since you're over 55 and part of a "qualified retirement...
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amphi_sc
Mar 5, 2010 12:24 am
... This sounds a lot like me. Monday was my notification day, but wasn't totally surprised based on past events. I am also retirement eligible (no bridge...
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DonW
donwshuper
Mar 5, 2010 12:39 am
While the CURRENT rules claim a readjustment would happen if needed every year, the current shell game in congress, wherein premiums MAY be increased almost...
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DP Nguyen
dpn1810
Mar 5, 2010 12:41 am
Very pertinent suggestions, Don! I wish I had 3 months to ponder these confusing options last year... So take your time and remember you've 45 days from your...
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DonW
donwshuper
Mar 6, 2010 1:19 am
One of the better discussions on roth conversions and medicare part b, etc can be found at ...
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fhawontcutit
Mar 6, 2010 1:19 am
http://money.cnn.com/2010/03/03/pf/retirement_delay/index.htm ... More people say they just don't have the money to retire these days. Seventy-two percent of...
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DonW
donwshuper
Mar 6, 2010 1:20 am
PLEASE BE CAREFUL re medicare calcs- consider this extract as to WHAT YEAR is used. Basically a year or two delay which MAY MEAN that by the time your rates...
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jonatha1
Mar 6, 2010 1:20 am
... If you will be 58 in March 2010 you will be 59 1/2 in September 2011 and can start regular withdrawals then, no?...
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hankharty
Mar 6, 2010 1:46 am
"Also, playing with the idea of the single life rather than some joint and survivor option (as the other sources and some old whole life policies will still be...
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yamee
Mar 7, 2010 10:08 pm
I can corroborate DonW's warning, as I got caught in this Medicare premium adjustment quagmire. IBM RA'd me in 2008 with a separation package. My wife...
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bill2k2k
Mar 9, 2010 11:10 pm
If you are 55 or older when the job loss occurs, you can withdraw from the IRA or 401K without the 10% penalty penalty "immediately" as per the IRS regs. If...
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patmorganstr
Mar 12, 2010 2:08 am
... The exemption to the 10% penalty for early distributions made after separation from service after attainment of age 55 applies to a 401(k) but not to an...
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topcatone
Mar 12, 2010 9:01 pm
There is actually a way around that (taking distributions from IRA when not yet 59 1/2)...good article http://www.retireearlyhomepage.com/wdraw59.html...
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bits_bytes_and_bugs
bits_bytes_a...
Mar 15, 2010 9:28 pm
My investment advisor suggested a strategy which I'm a bit leery of. Even though I'm maxed out with my pre-tax TDSP contribution, he is recommending that I...
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finitewisdom
Mar 15, 2010 9:31 pm
For those who haven't seen this... URGENT - NRLN Action Alert Support H.R. 3936 for Pension Plan Asset Protection I'm asking all NRLN Grassroots Network...
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fstephens
Mar 15, 2010 9:33 pm
Wake up and smell the coffee. I assume you are talking about using the 72T process the IRS allows you to use. This has been mentioned a gazillion (maybe one or...
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Kevin W
nowwicked
Mar 17, 2010 3:55 am
Is your advisor "fee" or "free", meaning do they sell for a particular company and get commissions? If they are free, I'd be suspicious....
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north99manverm
Mar 17, 2010 3:56 am
You can contribute to a roth directly, right? 5000 per year for you and 5000 for your spouse, if married. Plus the catchup if you are old enough. Selling...
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Lori W
snbubble
Mar 17, 2010 4:11 am
I've been doing a bit of investment research, myself and have read that it is perfectly legal now to convert amounts into a Roth despite income level. I loved...
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Lawrence Wiedemann
larrywied
Mar 18, 2010 6:47 pm
What I don't understand is why he wants you to put it into a traditional IRA and then convert to a Roth? You save income tax by putting it into a traditional...
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madinpok
Mar 19, 2010 11:59 pm
By STEPHEN MILLER Turnaround expert Jerome York died after being stricken with a brain aneurysm. After forging a reputation as a turnaround expert at Chrysler...
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Kady
evanied
Mar 20, 2010 12:00 am
This is a tactic used this year by people who earn too much money for a Roth, which has a lower income ceiling than the traditional IRA. You can always put...
