Get Answers About Retirement Homes

What is the best way to rollover old Pera and TIA CREF accounts?

I have just started a ROTH IRA and I have some money left in my retirement accounts (one PERA and one TIA CREF) from when I worked for the state. Should I leave these accounts open and leave the money in them,...

Answered 11/28/2007 | Answer This | 1 Answer | See Question

Additional Income

I need to know if accept a payment from my after tax contributions out of my 401K, if it will cause me to pay taxes? The amount is $14,200 approx. how do I figure that out?

Answered 11/17/2008 | Answer This | 1 Answer | See Question

401K withdrawal

Can you withdraw funds from a 401K at any time due to a terminal illness?

Answered 10/13/2009 | Answer This | 2 Answers | See Question

401K reduction of wages

Question: In the past the 401K contribution reduced all taxable wages dollar for dollar except OASDI and FICA. Is this still the correct statement. Thank You Geoff Rabjohn

Answered 11/6/2009 | Answer This | 1 Answer | See Question

Taxes and Penalties on 401k early withdrawal for new home

If I withdraw my 401k to purchase a house would I still be subjected to the 10% penalty and taxes or just taxes?

Answered 12/12/2009 | Answer This | 1 Answer | See Question

INCOME TAX NOT WITHHELD

I received a retro active retirement direct deposit into my checking account for $1,610.00 but no taxes were withheld so what percent or how much I should I hold out for Income Tax purposes when filing next year?

Answered 12/18/2007 | Answer This | 1 Answer | See Question

Foreclosed homes/How to report?

We have a house that was foreclose and was auction on September 18, 2007. The lender was not able to sell it at auction and a real estate agent is listing the property right now as bank owned. As of today, December...

Answered 12/14/2007 | Answer This | 1 Answer | See Question

Motor homes

Can I claim my motor home as a second home?

Answered 12/21/2007 | Answer This | 2 Answers | See Question

Relinquishing

I have 3 cats that I have been asked by my doctor to find homes for. Myself and my son have asthma very bad and the doctor feels that the cats are aggrivating our health very badly. Also, my 6 year old daughter...

Answered 12/20/2007 | Answer This | 4 Answers | See Question

401k contributions

How much can I contribute to my 401k and not be taxed.

Answered 12/28/2007 | Answer This | 2 Answers | See Question

401K contribution

Do employers have to match 3% when the employee contributes 3% or more of their yearly income to their 401k?

Answered 12/28/2007 | Answer This | 1 Answer | See Question

Retirement

I make 50,000 yr-current I will need 25% after retirement to use I have 15yrs to work average annual interest rate for the investment 12% I plan on living at least 25 yrs after retirement What are...

Answered 5/26/2009 | Answer This | 1 Answer | See Question

Military disability check and retirement

My husband retired from the military Jan 07. He receives a monthly retirement check and he also receives a disability check, Which we were told is tax free. Is this true? and do I need to include this amount on...

Answered 4/7/2009 | Answer This | 7 Answers | See Question

Claiming 2 Homes

We bought a house this year and have another one. Can we claim the taxes and insurance on both homes for our 2007 income tax?

Answered 12/28/2007 | Answer This | 1 Answer | See Question

401k early withdrawal

I withdrew my 401k earlier this year and took the early penalty and had income taxes withheld. How do I file this on my income tax for this year?

Answered 10/12/2009 | Answer This | 2 Answers | See Question

401k

How many years do I have to report 401k withdaw

Answered 1/2/2008 | Answer This | 1 Answer | See Question

Retirement loan default

A couple years ago I took out a loan on my retirement to restructure my finances ... I have been paying back roughly $160.0o per week .. now I find myself in the same boat . accumlitated debt and now my wife is...

Answered 1/7/2008 | Answer This | 1 Answer | See Question

Penalties for cashing in retirment early

Are you hit twice with penalties from the IRS when you cash in your retirement before age 59?

Answered 2/17/2008 | Answer This | 2 Answers | See Question

401K

My husband has a 401K plan at work but the employer doesn't match so it isn't growing very fast. I know you get taxed if you withdraw this. My question is would you just stop contributing to the 401K...

Answered 8/30/2008 | Answer This | 2 Answers | See Question

Retirement Plan

We write checks from our checking account for retirement. In other word we are buy GE stock with already taxed money. We ran into some hard time and cashed in some of our stocks. We surely don't have to...

Answered 12/8/2008 | Answer This | 1 Answer | See Question

Texas bankruptcy: can you keep your home and 401k/ira?

I have a friend that has a large business debt he is personally responsible for and is not able to pay it. He's considering bankruptcy and thinks he has to forfeit his home (residence) and retirement accounts...

Answered 8/7/2007 | View Answer | 5 Answers | See Question

Who agrees that social security is a better retirement option than a 401k?

If I work until I'm 67, I can expect to bring home a lofty $2,877 a month under SS. Plus the government can continue to use my weekly contributions as they deem fit in the meantime. Whereas a 401K is only likely...

Answered 3/14/2007 | View Answer | 1 Answer | See Question

Is it wise to take money out of a 401k to pay off a home equity line of credit. i am 5 years within retirement

I have been paying on this line of credit for 3 years and becasue it has a flexible interest rate although I pay extra because the interest rates continue to rise most of the payment is almost all interest. I need...

Answered 7/16/2006 | View Answer | 4 Answers | See Question

Why not take money out of 401k for 1st home?

People are telling advising different things to me and I just wanted to see what you all thought. Why would it be a bad idea to withdrawal all of my money from my 401k to buy my first house? I look at it like...

Answered 4/3/2007 | View Answer | 9 Answers | See Question

Is it better to pay cash for a retirement home or have a mortgage?

Current home valued at $350,000 and is free and clear. We will sell this home and buy a retirement home in North Florida.The home we want to buy is $500,000. Should we take part of our 401k stash of 2.4 million...

Answered 4/25/2007 | View Answer | 6 Answers | See Question

Are retirement plans (e.g. ira, 401k) another scam to steal wealth from middle-class?

My reasoning: http://jasonhommelforum.com/forums/showthread.php? t=209&highlight=capital+gains+IRA+IRS See also the links on this Question for more info about my vision of imminent hyperinflation: http://answers.yahoo.com/question/index;_ylt=At_Gq...

Answered 8/1/2006 | View Answer | 3 Answers | See Question

If bank forecloses and no equity can they take our 401k money?

We have a negative amortizing loan and now owe more than our home is worth can the bank claim our 401k retirement money?

Answered 7/6/2007 | View Answer | 3 Answers | See Question

Advice for borrowing against value of retirement?

Already borrowed max FROM 401k. Home equity at max. Credit cards maxed. Friend needs to borrow 20k BAD. Considered hardship withdrawal from retirement but would prefer not to. Any sincere advice on this?...

Answered 3/7/2006 | View Answer | 4 Answers | See Question

Can i use my 401k to buy a investment home.?

I want to buy an investment home to use as a rental or to resale when the market gets better. Can i use my 401k to buy an investment home? In effect, using a second home as a retirement option?

Answered 2/5/2008 | View Answer | 7 Answers | See Question

Can i withdraw ( up tp $10,000 ) from my 401k for a house down payment?

I believe the IRS allows a withdrawy of up to $10,000 from a retirement account ( IRA, 401k, etc ) towards the down payment of a home with no penalty and the withdrawal would not be included as taxable income?...

Answered 4/11/2007 | View Answer | 5 Answers | See Question