Can I collect Social Security if I still have a job?

June 30, 2024 No Comments

A: It’s possible to collect Social Security while you are still employed. You can collect both Social Security retirement and survivorship benefits (though not at the same time) even if you are currently employed. Each year, the Social Security Administration (SSA) reviews the earnings for

Can my IRA be taken in a lawsuit?

June 30, 2024 No Comments

A: Whether your IRA can be taken in a lawsuit depends largely on your state of residence and the judgment in question. There are no federal protections in place shielding your IRA from seizure in a lawsuit. When Is Your IRA In Danger? If you

Can I convert non-deductible contributions made to my Traditional IRA to a Roth IRA without being taxed?

June 30, 2024 No Comments

A: You can convert the contributions to a Roth IRA; however, a portion of the amount you convert to the Roth will be subject to income tax. When your Traditional IRA balance consists of deductible and non-deductible contributions, any amount distributed or converted from the

Can my IRA be used for college tuition?

June 30, 2024 No Comments

A: You can use your IRA to pay for college tuition even before you reach retirement age. In fact, your retirement savings can be used to pay for a wide range of education expenses for you, your spouse, your children or your grandchildren. Education: An

Can I have a self-directed IRA or Roth IRA using the forex market?

June 30, 2024 No Comments

A: In the U.S., one of the best ways for individuals to protect their income from taxes and save for retirement is by using an individual retirement account (IRA). IRAs come in many forms that can be tailored to specific individual preferences. However, significant rules

Can personal loans be included in bankruptcy?

June 30, 2024 No Comments

A: Personal loans from friends, family and employers fall under common categories of debt that can be discharged in the case of bankruptcy. Types of Dischargeable Debt A discharge releases individual borrowers from the legal obligation to pay previously existing debts. Other types of dischargeable

Can I leave my pension to my spouse when I pass away?

June 30, 2024 No Comments

A: In most cases, an individual with a pension plan should have the option to leave at least a portion of his or her pension to a surviving spouse and/or child. Oftentimes, this can be done by purchasing an option on the pension plan. However,

Can I roll a traditional IRA into a 529 college account for my grandchild?

June 30, 2024 No Comments

A: The short answer: Not without paying taxes. But as with much of the tax code, there are various nuisances and exemptions to expound. The IRS considers moving money from your IRA to a 529 plan as a distribution included in your taxable ordinary income.

Calculating PV of annuity in Excel

June 30, 2024 No Comments

A: Calculating the present value of an annuity using Microsoft Excel is fairly straightforward. However, you have to know the annuity’s terms: its interest rate, payment amount and duration. Also, the assumption here is that you’re dealing with a fixed annuity. Variable annuities offer a rate

Can a 401(k) be used for a house down payment?

June 30, 2024 No Comments

A: A 401(k) retirement plan can be tapped to raise a down payment for a house. You can either borrow money or make a withdrawal from your 401(k). Withdrawing From a 401(k) The first and least advantageous way is to simply withdraw the money outright.

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