Asked by Yvette
Answered by Stacy Marcus
CDFA™ CFEI™ in New York, NY
Yvette, I hope you received qualified professional tax and financial planning advice when you made the decision to roll over your 401(k) into an annuity. The terms an...
Asked by Chelsey
Answered by Michael Keeler
CFP®, CLTC in Las Vegas, NV
When you take a distribution from your 401(k) before age 59 1/2, you pay an additional 10% penalty in addition to the income tax on that amount. This could end up to ...


Asked by Tina
Answered by Robert Henderson
AAMS® CDFA® in Mystic, CT
Absolutely. Although it may seem counter-intuitive, one of the best times to invest is when the stock market is down. This allows you to buy more shares of stock and/o...
Asked by franklin
Answered by Stephen Bowden
Accredited Investment Fiduciary AIF ® in Lakewood, WA
It depends upon the sponsor of the 401(k), and the may be limited by a maximum percentage of its worth. Best advice would be to talk with them to see what options you ...
Asked by Chelsey
Answered by Richard Eddy
Financial Adviser in La Verne, CA
The correct answer to this question is as unique as you are, but here are some general guidelines. It makes good sense to fund your 401(k) plan up up to the company ma...
Asked by trish
Answered by Justin Clark
Mortgage Professional in Moreno Valley, CA
Invest in Real Estate. If you invest in real estate now, then by the time he turns 62 you can do a reverse mortgage and either live off the equity, or at least not ha...
Ask a pro a question
Have your question answered by a professional
Characters remaining: 140
Asking as: $ss.eas.userParams.displayName
Sign in to MoneyTips
By submitting you agree to our Terms of Service
Free MoneyTips Membership!

Get FREE, full access to MoneyTips.com