chilliemurphy asked:


I have been working for almost 10 years and have been building my 401K since I started right out of college – now, I want to go back to graduate school, but I don’t know if I’ll be able to get any financial aid or favorably-priced student loans if I have retirement assets. Am I required to dip into this money as a first-dollar plan, or can I keep my retirement assets intact & still get financial assistance (even a Stafford loan)? Thanks!

Robert

nobleinvestments asked:


I am nearing retirement and have about 25k in untaxed money in a retirement account through my employer. I am looking for a way to roll it over tax free and still keep investing it safely but have access to it as needed with no withdrawal penalties. Is there a way ??

Loretta

gw_extdman1 asked:


I never seem to get ahead with the bills that I have and I only get a limited income and have been on disability and forced retirement since 1987 and up until 2003 was paying on bills that my brother charged in my name and that is when the creditors told me not to pay anything more. During that time, I had to close several accounts that I had in my name and they went to the credit bureaus and now I have bad credit as far as I am concern and need to get a loan to pay off those bills and try to get some brand new clothes and some other items that I need. Anyone with information pleaselet me know some how, by the grace of God I need the help soon. Or I will crazy!
I won’t go to payday loans because they are way too expensive and the bills I have is not all just every day bills, they are bills that I keep getting phone calls about from the creditors. Wife can’t help out at all her money that she gets on her disability goes for her medicine and all the house cleaning and the personal hygine we have to have.

Alfred

MEGAMANIA asked:


I’m employed with the local public school system. I began working for them eight years ago. Through my employment, I have been having an amount deducted from my check to be placed in a retirement account through the school system. The system has been adding funds to it as well, but what I am concerned about is the part I have been contributing.

I have decided to leave my job and stay home with my kids full-time. Since my retirement account is not a 401K, it can’t be “rolled over”. So, I am assuming the school system will have to return my retirement contributions to me, minus what they have contributed and local taxes. Am I correct? If so, will this amount automatically be federally taxed, or will I have to report it on my next tax return?

I’m so confused! I don’t want to call my employer to ask these questions if I can help it, because I don’t want it to sound like I’m more concerned about my money than all they have done for me over the past few years.

Harvey

Andy Rogers asked:


my colleagues realized how important was retirement planning when they themselves got retired, did they understand my wisdom. People would be idiots to not plan it earlier. It may seem tough at first to believe that one has to retire someday from the workplace and the sooner it is done the better it is for the life after retirement. Retirement planning is essential in order to be able to enjoy retirement. Most people have dreams for their retirement years and only planning will make it happen. The best time to begin retirement planning is as soon as a person has graduated from college and begins to work. Those people who begin early will find that their retirement years will be filled with the ability to do whatever they want or dream up.

Some people who don’t plan properly find retirement to be a night mare. But there are actually some good ideas to help plan for retirement. A great idea is to reserve a convenient optimum percentage of pay and place it in an investment account. Doing it this way means that the money isn’t missed and doesn’t become part of the monthly budget. Don’t expect that if the money isn’t taken out automatically that a person will have enough will power to do it on their own. Retirement planning isn’t easy and it takes determination and discipline to keep the plan together for years.

Taking advice form a retirement advisor is a good idea. He can make suggestions and advise of several significant things like opportunities to increase investments. As a person gets increases in salary or pay, keep the percentage of ten percent going to retirement planning. In doing this the person might also have the opportunity to possibly have early retirement. By retiring early a person will be able to spend more time doing all the things they have dreamed of. It doesn’t mean that life stops. Because of all these reasons, retirement planning is essential for later on in life.In the same way that as a child one learns how the ants and birds work hard for the winter to come, it is important to have instilled inside a person a good work ethic.

Prior planning is going to have long term benefits. It feels so good after retirement when you see the fruits of your planning endeavors ripe. A person will be glad that they spent the time doing retirement planning. They will be proud of the fact that they had self discipline to keep it up over the years. For those people not at retirement age it’s never too late to start preparing and if one sticks with the plan, retirement can still be filled with the opportunities to fulfill dreams someday.Retirement planning should never feel like a chore because it is a means to have a great time in the golden years of life.



Sandra

jagorion asked:


I am a foster parent and I get paid by my agency through a per diem. That means the money I get paid is tax free. And since I don’t have a full time job, I don’t have a retirement plan. I want to start saving for the future. Can any one help?

Lance