Retirement Answers from Retirement Experts!

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Asked by a 60 year old man from NM on 10/22/2018
Michelle Dash
Michelle Dash, Financial Advisor says
You are correct that when you convert money to a Roth IRA, usually from a 401k or Traditional IRA, you must pay tax on the amount converted. Once you convert to a Roth IRA, all of the money and capital gains will be tax free forever. This is often a good strategy if you plan to hold/grow the Roth IRA money for a long period of time. Or, if you are ... (Read More)
Asked by a 50 year old man from FL on 10/23/2018
Michelle Dash
Michelle Dash, Financial Advisor says
Hello, the best way to determine your Social Security benefit is to create an account with https://www.ssa.gov/. Or, you can call 1-800-772-1213 and speak with an agent. Your benefit will be based on the highest 35 years of earning, the age you retire and other factors. Full retirement age is 66 or older (depending on when you were born), so at 63 ... (Read More)
Asked by someone from GA on 11/9/2018
Michelle Dash
Michelle Dash, Financial Advisor says
Thank you for posting. There are many situations that result in social security back pay. Your post did not provide enough context to decipher why. If you have a specific question regarding this post, please add more details. Good luck! (Read More)
Asked by someone from CA on 10/4/2018
Scott Guild
Scott Guild, RFP says
Don't worry at all as the zillow value won't matter when you get to the point of actually applying for the loan. An FHA appraisal from a licensed appraisal will come to your house and get a very accurate value of your home--if it's worth 500K then the appraisal will come close to 500K! (Read More)
Asked by someone from NY on 10/11/2018
Scott Guild
Scott Guild, RFP says
The answer is probably yes. Best thing to do is reach out to a reputable reverse mortgage provider and they can qualify you. Good luck (Read More)
Asked by someone from NC on 9/23/2018
Steve Chen
Steve Chen,  says
Hi, The good news is you have a reasonable income. I'm not able to provide financial advice at this time, but my high level thoughts are: 1) Create a retirement plan 2) Start saving - ideally 25% or more of your income 3) Explore options for investing efficiently - create a 401K and IRA and build a low cost, well diversified portfolio 4) ... (Read More)

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