Hi Dylan, I’d probably look at rolling the old 401(k) into an IRA. The pre-tax portion can generally roll into a Traditional IRA, while Roth assets can roll into a Roth IRA. Before making the move, I’d compare the investment options, fees, services/advice, creditor protection, and any plan-specific benefits you may be giving up. I’d […]

You can most definitely refinance that loan! I would start by visiting your local credit union to see what your options are. Also, please don’t trade in that truck for a Corolla with negative equity! It will bite you – $5000 negative equity on an $18k vehicle is about 28%. We don’t even know what […]

They have since updated W4, you can no longer select a number between 0 and 9. It’s now based on your filing status, spouses income (if applicable), and the number of dependents. With that said, contributing to a 401k (pre-tax) will reduce your taxable income. You don’t need to change your W4 to take advantage […]

This is a question I see all the time. The limit you can earn without needing to pay back Social Security is $24,480. You are right there. I don’t know your entire situation, but from the information you’ve shared, I’d wait until you’re 67 (full retirement age) to start taking Social Security. Now, if you […]

Hi BJ, Thank you for bringing this up, and hopefully you found the answer before now! Retirees sometimes have different accounts that make up their nest egg – individual (or joint) brokerage accounts, Roth IRAs, and Traditional IRAs or 401 (k) s, and of course, Social Security. This article states that being strategic about where […]

Hi SN, Great question, and it depends on what you mean by “safer.” It depends on what you mean by “safer”. You don’t always need to enter your PIN when using a debit card. Most debit cards come with a Visa or Mastercard logo, and you can skip the PIN by using it as “credit,” […]

Hi Paris, How old are you now? It sounds like the inheritance is in a trust. Have you consulted the trustee? Some trusts have specific language (often referred to as HEMS) where funds may be withdrawn to cover Health, Education, Maintenance, and Support – sometimes a down payment would be covered. Again, it’s all dependent […]

First, I’m so sorry for the loss of your mother and for the added stress of navigating this during such a difficult time. You deserve clear answers. There are several red flags here worth examining: Who authorized the new account? If your father signed off on it after the doctor had already documented his incapacity […]

Hi K! Many couples find themselves in a similar situation, where one spouse has a higher credit score than the other. Generally speaking, most lenders pull scores from all three credit bureaus and use the middle score. If there are multiple applicants, then the lowest middle score is used to determine the rate. All is […]