Michael on August 20th, 2008
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You: Which funds should I pick?
What?
You: In my 401(k) account. . .I have like a dozen funds to choose from. Which ones should I pick?
I can’t give you specific investment advice.
You: Right. I knew that. Well, then, how can I pick the right funds?
There aren’t any “right” funds.
You: Okay, I think you’ve got [...]

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Michael on July 11th, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question
Are all custodians of Roth IRAs the same? How do I know whether to pick Ameriprise or Fidelity or a different custodian?
–Jennie K., Burnsville, MN
STRAIGHTFORWARD [...]

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Michael on July 3rd, 2008
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Although I am often asked to speak to recent grads, I have never been asked to speak at any graduations. But if I were, I imagine I would deliver something along the lines of this speech.
Today is part 8. To see the entire speech released so far, click here and read from the bottom [...]

Continue reading about Graduation Speech Part 8: Who is Ira Roth?

Michael on June 6th, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question
Do I need to have all my debt paid off prior to retirement?
–Mick V., Uniondale N
STRAIGHTFORWARD ANSWER
Not necessarily, especially when it comes to your mortgage. And [...]

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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
I saw something on the news yesterday about a credit for saving for retirement. I thought you could only get a deduction for an IRA [...]

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Michael on May 23rd, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
Say I invested 10% of 50k for 4 years (20k) and had 8% returns, but now things are tanking. How does a person decide [...]

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Michael on May 2nd, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
My employer does not provide a 401(k) plan. Therefore I have been looking into putting away money into an IRA. However, I’m having a [...]

Continue reading about Roth vs. Regular IRAs: Friday Q & A

Michael on April 28th, 2008
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I just read the results of a Wall Street Journal/Harris Interactive Personal Finance Poll. The emphasis of the press release (and related media coverage) is their finding that about one-quarter of those saving for retirement had prematurely withdrawn their funds. I’m not sure this is surprising. Personally, it seems like [...]

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Michael on April 23rd, 2008
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A 401(k) loan is different from a distribution because a loan means you intend to pay the money back to your account. In essence, you borrow from yourself. Here’s how it works, subject to additional restrictions and criteria possibly added by your employer:

You request a loan from your plan.

Typically, the loan amount cannot exceed [...]

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Michael on April 18th, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
If I can’t do both a maximum 401(k) contribution and a maximum Roth IRA contribution, what should I do?
—Beth M., Ramsey, NJ
STRAIGHTFORWARD ANSWER: Contribute to your [...]

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