H.R. 1424 Emergency Economic Stabilization Act of 2008 http://thomas.loc.gov/cgi-bin/query/C?c110:./temp/~c110JIik9X section 7701(a)(37) of such Code), in a distribution described in section 408(d)(3) of such Code, and (II) in the case of any other eligible retirement plan, in an eligible rollover distribution (as defined under section 402(f)(2) of such Code), and (ii) as having transferred the amount…

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I’m looking to start a retirement plan asap and I’m not sure which way to go with the way this economy is. Any ideas? Start a 401K plan with your company. If your company doesn’t offer 401K, then start an IRA on your own. Ask your bank for IRA accounts. You should also save some…

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Texas 47 yr old man remarries in same state, has a 3-yr old child. He owes back child support, 12,500+ arrears. Kids are now mid 20’s & living in another state where their mother lives. He’s been unemployed for the last 1.5 ys. He’s lazy and dislikes work. Current wife makes over $70K yr. She’s…

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The recent Pension Protection Act offers good news for the non-spouse beneficiary of a 401(k). It is now possible to arrange a trustee-to-trustee transfer of an inherited 401(k) to an inherited IRA. This is great news for the consumer, and represents a significant change from the old law. The new law basically offers inherited 401(k)s…

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Hi, I was thinking about this scenario recently: December 31st, 2035, I turn 70; December 31st, 2036 I’ll be 71. I will always take my RMD before Midnight, December 31st of each year once I begin taking them. To calculate RMDs from my and my wife’s IRAs (excluding Roth IRA) and my 401K, is the…

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Retirement Plan   http://dfwREguy.com I was talking to a Realtor yesterday and I asked her what her retirement plan is. She told me her retirement plan is to collect her Social Security checks. I didn’t realize anyone still believes Social Security will provide for them in retirement. I recently read that Social Security could be…

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A penalty free one time withdrawal allowance from your personal retirement plan be it a 401k or IRA. The amount would be limited to say, 10% or $10,000 whichever is smaller of the employee portion of the contributions to prevent those that don’t really need it from floating themselves an interest-free loan. The payback period…

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I am 30 years old and I have $18,000 or so in credit card debt. I started a small law practice a year ago and it’s going well, but I am scraping by. One major reason I am scraping by is because the interest rates on the $18,000 in debt went from 0% (when times…

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