• Home
  • Swanson v. Commissioner
  • 401k
  • IRA
  • 401k to ira
  • 401k contribution limits
  • roth ira rules

Archive for 401k to ira

Tough candidate forum questions directed only at Lambert & Aichinger

By · Comments (0)
Sunday, March 4th, 2012

GILFORD — while School Board challenger Doug Lambert and Budget Committee challenger Barbara Aichinger verbally danced for their supper at last night’s student-sponsored candidate’s forum, most of the rest of the candidates were given a free pass from the tough questions.

The format of the forum was designed to prevent conflict – questions were submitted to the students who asked them without revealing the name of the person who asked the questions. There were no follow-up questions allowed.

Despite the format or perhaps because of the anonymity it provided, some of the questions were tough ones — most tellingly one person wanted to know how much time Aichinger spends in Gilford and another one wanted to know if Lambert supports all students – including the gay ones.

“I did a stupid thing, I apologized and I paid the price,” he said, referring to his 2009 tirade against the openly gay leader of the state’s Democratic Party on his former blog Gilford Grok.

His rant, for which he did apologize, cost him his spot on the Budget Committee – he stepped down – his weekly column in the Laconia Daily Sun, and his prominent position on Gilford Grok – a conservative blog he partially ran.

As to the direct question of whether or not he would support all students, Lambert said, “When the mission is education and community, I don’t see how anybody could be discriminated against.

“We’re all God’s children,” he said, adding that, if elected “every child in this building would get his support and protection.”

Aichinger said she travels frequently for her job as a vice president and engineer for a N.H. owned tech company and spends about seven months a year physically in Gilford.

A resident since 2008, she said her husband is still a legal resident of Bedford, N.H. and the youngest of their three children, the child is a senior, remains in Bedford Public Schools so she could stay with her friends.

“I plan on retiring in Gilford,” she said, allowing that because she was asked the question twice that “it was an issue.”

She also said her residency in Gilford was settled when she fought, successfully, to overturn Gilford’s land use laws on involuntary lot mergers.

“If my residency was an issue, my neighbor who sued me would have gotten it out there,” she said referring to her prolonged court case that was triggered when she tried to build on an abutting lot she owns on Governor’s Island and realized the two lots had been made into one by the town without her knowledge or consent.

She and Lambert both have a history of citizen’s advocacy. with Aichinger’s  victory in 2010 when the state law that disallowed involuntary lot mergers was passed by the legislature and became law and Lambert’s N.H. Supreme Court victory regarding the public’s Right-to-Know, both are proven and effective advocates for what they believe.

Aichinger also fielded one question from Atty. Peter Millham – the audience knew it was Millham’s question because the student moderator couldn’t read his handwriting and asked him to read it aloud – who wanted to know if she still intended on separating Governor’s Island from Gilford because she testified to the same last year before a legislative subcommittee.

“If you read my testimony…” she began.

“I read it,” Millham replied, providing the only public exchange of words during the event.

“The problem we have is we pay for services we don’t get,” she said, without skipping a beat.

“When we dial 9-1-1, Laconia shows up because we’re so close to the Weirs,” she said. “Maybe we could contract with Laconia (for some of those services). Our own municipality isn’t plan a.”

She also said the people who supported the bill, that would have created a study committee that would allow the island to form its own perfect union (or plan B as she called it), didn’t have their own municipality as their goal.

“Plan a (the creation of Village Districts within existing municipalities) is why I’m here,” she continued. “Before I stand before the legislature (and ask them for the permission to form their own municipality), I want to make sure I did everything I could to keep Governor’s Island in Gilford.”

(The bill was determined to be Inexpedient to Legislate or, in English, it didn’t make it out of one of the legislative committees that considered it.)

For Aichinger, the goal is to lower the town’s tax rate to $15 per $1000 evaluation within three years by cutting spending and making better use of the resources the town already has.

Long range, Aichinger said lowering the tax rate would preserve property values, adding that many elderly people, in the pre-IRA and 401K investment days, bought property as an investment for their retirement.

Lambert said his main goal for both running for School Board and for suing the School Board over it’s decision to hire a superintendent despite two separate votes of the people for a different administrative structure, was because the School Board has a habit of ignoring the people and his desire to “empower the parents.”

Along with the decision to hire a superintendent, Lambert was also asked if he supported full-day kindergarten. He answered that the decision to create a full-day kindergarten after the people voted “no under any circumstances” was another example of how the School Board does what it wants regardless of what the people who elected them want.

Current School Board Chair Kurt Webber – a candidate for reelection – was also asked about the kindergarten decision and he said that after conducting a pilot program that determined the value and learning that it would save the district money, by eliminating a noon-time bus run, the School Board unanimously supported full-day kindergarten.

Webber was also asked why he hired the superintendent the day before the vote, he said the Board had said all along that would continue the process for hiring a superintendent and timing of the decision to offer the job to existing Superintendent Kent Hemingway was made because one of the three finalists had been offered another job in another district and it wasn’t fair to leave the three candidates “hanging in the breeze.”

He said the lawyers said it was “advisory only” and the members of both the Gilford and the Gilmanton School Boards was that it “makes no sense to move to a management structure with no one in charge.”

Election Day is March 13. Voters vote at the Gilford Middle School.

There are three candidates for two 3-year seats on the School Board – Webber, Lambert and incumbent Susan Allen.

There are nine candidates for the three -3-year terms on the Budget Committee – incumbents David “Skip” Murphy and Phyllis Corrigan; Eichinger, Richard Grenier, Stuart Savage, Joe Hoffman, Allen Voivod, J. Scott Davis,  JoEllen Space and Stuart Savage.

Davis, Voivod and Grenier sent position letters that were read to the public while Space and Hoffman were no shows. a couple of questions were directed to Murphy, who said he remains a fiscal conservative who is dedicated to reducing the size of the government.

He said New Hampshire is a place where government is still small enough so one person can make a difference and that his goal is to keep Gilford’s government small, open and dedicated to serving the public.

Comments (0)
Categories : 401k to ira
Tags : budget committee, conflict, doug lambert, gay leader, mdash, tirade

What is Your Financial Resolution?

By · Comments (0)
Friday, January 13th, 2012

With 2011 coming to a close, we are all shifting our focus to 2012 and asking what we can do to improve. Whether you want to call them resolutions, goals, or anything else, we all want to make next year even better than this year.

since nobody is here to talk about eating healthy or fitness regimens; what is your financial resolution and how are you going to do it? Max out your IRA/401k? Build up your savings? Start day trading? Learn about options or something new? Buy a home? cut back on your morning latte?

no matter how big or small, as long as it is a step in the right direction you will be glad you did it.

Also, if you have any tips to help others on their goals, feel free to chime in.

I guess I’ll start. mine is to replenish my savings account. Having a few months salary in the bank can be a lifesaver and offers piece of mind, especially in a turbulent economy. Even if that level is unattainable, something is better than nothing.

 

Comments (0)
Categories : 401k to ira
Tags : Economy, IRA, morning latte, salary

PR-CANADA.net – FinancialSuccessInstitute.org Announces Gold IRA Panel To Study Way to Eliminate the Risk of Losing

By · Comments (0)
Thursday, January 12th, 2012

Richard Geller, CEO and managing director of FinancialSuccessInstitute.org, announced today, “The Institute is concerned the loss of customer funds by MF Global is very possible with any financial institution other than FDIC insured banks. the Gold IRAor 401K likely eliminates this risk when it’s correctly structured. Yesterday, the FinancialSuccessInstitute.org expert panel released their preliminary finding about why a Gold IRA or 401K eliminates risks inherent with financial institutions that gamble with customers’ investment funds.”

The FinancialSuccessInstitute.org’s mission is identifying highly secured investments for investors. the institute’s Gold IRA article outlines how the MF Global bankruptcy can happen to any financial firm at any time. A Dec. 14 Reuters article states the MF Global bankruptcy was caused by a $6.3 million investment made in European sovereign debt using customer funds without first disclosing the investment. the Reuters article cites a bankruptcy trustee inh the case as saying as much as $1.2 billion is unlikely to be recovered.”

Geller stated, “At the heart of the Institute’s study is finding the most secure investment possible while delivering a good return. We believe it’s one where the investor physically controls the asset in the way a Gold IRA or 401K might be structured. A Gold IRA or 401K could feasibly be assigned ownership of the gold. the Gold IRA might then register a bank safety deposit box in the name of the Gold IRA to physically hold gold without a third party custodian having any access to the gold. the owner-investor of the Gold IRA would possibly have exclusive access.”

Geller continues, “A Gold IRA appears to make sense because gold has increased in value on average 18% annually since 2000. No other commonly held asset class is able to make this claim other than the Gold IRA or 401K.”

Geller points out, “A Gold IRA or 401K will likely have liquid cash on occasion. Properly structuring a Gold IRA would notionally involve opening a savings account or certificate of deposit at an FDIC insured bank in the name of the Gold IRA for the purpose of holding cash. This could provide the Gold IRA the highest level of security available.”

Geller emphasizes, “Those not fully understanding the importance of physically holding gold in a Gold IRA need to read the Gold IRA article explaining why all investor funds held by non-FDIC financial institutes are at risk in the same manner MF Global customers were surprised to find themselves. Another reason the Gold IRA appears to make sense is the risk that stock markets will again bottom-out over a negative news headline – the same headline is likely to drive up the value of a Gold IRA. along with reduced risk, another benefit often associated with a Gold IRA is it has always been a hedge against inflation. Overall, the expert panel sees great promise in the Gold IRA as an ultra-low risk investment vehicle.”

Geller summarizes the FinancialSuccessInstitute.org’s announcement of the expert panel study of the Gold IRA this way, “The panel is aware of other highly secure investment vehicles rather than the Gold IRA. For example, the institute educates investors about using a self directed 401K to own real estate. these are highly secure but not as secure as the Gold IRA. Investors spooked by the MF Global bankruptcy should educate themselves about the Gold IRA and other highly secure investment vehicles by visiting FinancialSuccessInstitute.org today.”

Comments (0)
Categories : 401k to ira
Tags : 401k, customer funds, financial institutions, investment funds, Investments, sovereign debt

Indiana Securities Law Firm Investigating Fraud Stemming From Self-Directed IRA Schemes

By · Comments (0)
Friday, January 6th, 2012

Logansport, IN (PRWEB) December 30, 2011

Scott Starr of the Indiana securities law firm of Starr, Austen & Miller, LLP, announces an investigation into securities fraud scams involving self-directed IRAs. A self-directed IRA is an IRA held by a trustee or custodian that permits an investment in a broader set of assets than is permitted by most IRA custodians.

Most IRA custodians are banks and broker-dealers that limit the holdings in IRA accounts to firm-approved stocks, bonds, mutual funds and CDs. Custodians and trustees for self-directed IRAs, however, may allow investors to invest retirement funds in other types of assets such as real estate, promissory notes, tax lien certificates, and private placement securities.

Fraud promoters who want to engage in Ponzi schemes or other fraudulent conduct may exploit self-directed IRAs because they allow investors to hold unregistered securities. Additionally, the custodians or trustees of these accounts have no responsibility to investigate the securities or the background of the promoter. furthermore, self-directing IRAs do not typically require the trustee or custodian to keep accurate records or perform audits.

“Some of these investment advisors and stockbrokers are clearly committing malpractice and breaching their fiduciary duties in the way they are advising their clients to invest in their self directed retirement programs such as IRA’s and 401k’s,” said investment fraud lawyer Scott Starr .  “It is not uncommon for these individuals to place their clients in investments that are either too high risk, carry a time horizon that is too far in the future, or fail to properly diversify these portfolios.”

The self-directed IRA custodial process gives the aura of protection for the investor but it is elusive. A few ways to avoid fraud with self-directed IRAs is to verify information in self-directed IRA account statements, avoid unsolicited investment offers, ask questions from the promoter, be mindful of “guaranteed” returns, and seek advice from a trained professional.

About the law firm: the law firm of Starr Austen & Miller LLC has over 90 years of experience in securities and class action litigation. the firm has earned a national reputation among litigators by handling cases ranging from personal injury caused by exposure to toxic chemicals, truck accidents to mass and class actions against national brokerage firms for securities fraud.

Legal Resources for Impacted Investors: If you have lost money in a fraudulent investment or scheme involving a self-directed IRA or a third-party custodian or trustee, or have information about one of these scams, you should contact Starr Austen & Miller LLC to learn more about the self-directed IRAs and report your experiences. Starr Austen & Miller’s attorneys Mario Massillamany and Mark Fryman are available for direct live chat every Wednesday at 5pm.

Read the full story at prweb.com/releases/2011/12/prweb9070262.htm

Comments (0)
Categories : 401k to ira
Tags : accurate records, fraud promoters, logansport, ponzi schemes, retirement funds, stocks bonds

Financial Success Institute Expert Panel to Begin New Study of Three Major Self Directed IRA Mistakes

By · Comments (0)
Thursday, December 29th, 2011

Fairfax, VA (PRWEB) December 20, 2011

“Our experts will study what can be done about these three mistakes that so many people make in their self directed IRA,” said Richard Geller, managing director of FinancialSuccessInstitute.org.

Expert advisory panel member attorney Tim Berry explained, “These three mistakes are gravely threatening not just the self directed IRA, but potentially the traditional and Roth IRA.”

Berry went on to reveal that the panel is studying the three mistakes and what people can do about them. “These mistakes are connected with personal guarantees, doing business with related parties, and owning gold and silver or other assets the wrong way inside a self directed IRA and other IRA types. now is the time to assess what can be done about these mistakes once the self directed IRA makes them. the IRS can be very unforgiving of these mistakes.”

Berry adds a recent specific example, “The weird thing is that a number of brokerage firm applications open an self directed IRA with language that probably causes your self directed IRA to lose its tax status the moment you sign the application. in once recent federal court case a client lost a $60K IRA over this exact issue.”

Even as the expert panel begins the new study of self directed IRA mistakes, it has already begun releasing preliminary information in this Self Directed IRA article. As the panel’s study progresses, new information will be regularly released at: FinancialSuccessInstitute.org.

According to Geller, “The Institute will be studying what can be done. It’s time for someone to step forth and make recommendations. For instance, if an IRA holder lets a related party use her rental property, she has violated the rule against related parties. this is very common in a real estate IRA, a type of self directed IRA for real estate. Our panel is now going to study what can be done if someone should make a mistake like this. we hope to learn if a self directed IRA can be protected when an innocent mistake is made. When we have an answers for self directed IRA owners we will publish it or provide it by webinar to our subscribers and any self directed IRA owners wanting the new information. “

The Institute reported that it should issue its findings over the next few months. Geller said, “FinancialSuccessInsitute.org hopes this study will assist more people in forming self directed retirement plans such as the self directed IRA or, better yet, the self directed 401K. those considering a self directed IRA or 401K or needing to learn more about the self directed IRA and 401K will find valuable information in the article Self Directed IRA – what do You Want to Invest in?

Geller concludes, “In any event, we plan to release some findings as soon as we can.”

Read the full story at prweb.com/releases/2011/12/prweb9054145.htm

Comments (0)
Categories : 401k to ira
Tags : Assets, brokerage firm, expert advisory panel, geller, Gold, tim berry

Rollover a 401K and IRA into one account?

By · Comments (0)
Monday, August 22nd, 2011

My Mom has a 401K account from an employer where she recently left. She also has a regular IRA at a mutual fund company. We'd like to combine those into one account, can it be done and then later setup for retirement withdrawals?

I've seen Rollover IRA's but they appear to be used for holding when moving from one employer to another.

Yes, she can rollover the 401k plan into her IRA with no tax penalty. once it's there, the funds are treated the same.

The 401(k) money can get rolled over. it doesn't have to be just a temporary spot to hold the money. However, before doing that, what kind of return on investment is she getting on the money with the former employer? Moving the money to one spot only makes sense if she can make more money by moving. If the employer's 401(k) has good investment options, she may want to keep it there so the investments grow more. just something to think about.

She can do it, but sometimes here is a drawback to mixing funds. I can't think of one in this case.

The usual drawback, is that the IRS will always tax withdrawals at the worst case rate. So if one account had a higher tax rate, now both of them have it. that does not appear to be the case here though, but I would make sure first.

Comments (0)
Categories : 401k to ira
Tags : 401k account, 401k plan, Investments, regular ira, tax penalty

What are you choosing to build for retirement? 401K Roth IRA?

By · Comments (0)
Sunday, August 7th, 2011

I am trying to weigh my options here. I have a 401K and I plan on contributing toward a Roth IRA. I just would like to get more information on what other options are available to me. What is your choice at this time, why and what is your age?
Thank you in advance.

I have a 401K, the company matches funds, if you get a Roth IRA most companies do not participate in these.

first you should match what you company puts into the401K if they say they will match up to 10% you must do your best to match it — no more any extra put in a roth ira — after all one will help on todays taxes and the second will really grow with tax paid money!!!

I've been investing in both for about 2 decades. It's the low road. It's easy, but not very rewarding. My advice is to invest your time and learning into something that might really appreciate. maybe a business. I've seen a lot of interest in coins, and precious metals, but one should know what they're doing. The tax advantage of a 401k helps, but chances are you can do better with the greater flexibility of freelance investing. Remember, you don't pay taxes on a stock's increase in value until you sell it. I'm 52, and seen many fly over me as I walk the road that the men in suits have paved for the sheep. Still, I hope to retire in a "gentleman's farm" arrangement, maybe a 5 acre coffee field above Captain Cook, Hi.

Do both if possible.

Max out the 401K up to the company matching funds.
Example do 6% if your company does a 1 for 2 matching up to 3%, this will give you a total of 9% investment every pay period.

Then open the Roth, the really nice thing about a ROTH is that you will have access to the money you have put in there with no penalties. a great thing when you need to most.

Comments (0)
Categories : 401k to ira
Tags : 2 decades, 401k, coins, Match, precious metals, Roth IRA

Can I rollover my 401k to an IRA if I have a second full time job with better medical benefits but no 401k?

By · Comments (0)
Saturday, August 6th, 2011

1st job benefits and working conditions are decreasing.
2nd full time job has great medical insurance and no 401k plan. I'm not sure how long I'll be at my 1st job but I know I will stay with my second. I want to make my transition easy.
Switch medical asap and roll over my 401k to IRA so I have no benefit ties to my 1st job.

Comments (0)
Categories : 401k to ira
Tags : medical insurance, time job, working conditions

What are some ways to reduce my taxable income other than contributing to a 401k, IRA, and Roth?

By · Comments (0)
Tuesday, July 26th, 2011

I don't want to participate in my companies 401k, however I still want to make regular contributions towards and investment for my future as well as reduce my taxable income. each year I contribute my maximum contributions into my Roth and IRA and will continue. I need an alternative for my 401k contributions. I want more control and transparency.

Roth contributions do not reduce your current tax liability. Conventional IRA contributions do if your income is under the deductible limit. But a 401(k) plan is still the best way to reduce current taxes. Can't you find ONE investment option in your 401(k) plan that you can live with?

If not, consider investing in muni bonds. it won't reduce your current tax liability but the interest is tax free (federal and sometime state).

Comments (0)
Categories : 401k to ira
Tags : 401 k, ira contributions, muni bonds, tax liability, transparency

What are some additional tax shelters I can use when my 401k and ira donations are up to their limits.?

By · Comments (0)
Monday, July 11th, 2011

I'm about to receive $100K from an investment and I want to pay the least amount of taxes on this money. I've already maximized my 401K and IRA contributions. what are some other options?

Tricia I think he wants to keep the money not donate it.

Check int trust funds for your children. at least keep it in the family. College tuitions in some states can be paid in advance at todays rate

Hold on, you may have a problem with your IRA. If you are receiving this money in 2007 you have too much income to deduct your contribution to a traditional IRA. If your adjusted gross income is over $85,000 no deduction is allowed. Your traditional IRA will not result in any deduction for you. If you have a spousal IRA, you will not get any deduction for that either.

You may also have too much income to invest in a Roth IRA. If your adjusted gross income is over $110K ($160 if married) then no contribution to a Roth IRA is allowed.

By the time you receive income, it is too late to tax-shelter it. The investment itself would need to be tax-sheltered in order to reduce the tax on its income.

You could try to receive the money part in 2007 and part in 2008 and perhaps retain deductibility of your traditional IRA or be able to invest in a Roth IRA.

After you receive the money, if you want to shelter the income from this money, you can invest in tax-free municipal bonds. You could defer taxes on the income if you invest in certain treasury securities or purchase a tax-sheltered annuity.

You could establish 529 plans to save for higher education expenses. Income from these plans are tax free to the recipient. however there is no current tax deduction.

You can switch your health insurance to a high deductible policy and make contributions to a health savings account.

invest in real estate – you don't pay tax on gains until you sell – plus you make money on the rentals – or tax free municipal bonds/mutual funds

Comments (0)
Categories : 401k to ira
Tags : ira contributions, Roth IRA
Next Page »

Recent Posts

  • Linking Broadband to Job Creation Takes Vision
  • Linkin Park Added to Download Festival Lineup
  • Pacers’ Vogel, Grizzlies’ Hollins named Coaches of the Month
  • Savvy Money: As with Coach Cal, it’s never too early to start reloading for the next year
  • Linking inflation and immigration