Ask Bill a Personal Finance Question

Do Dave Ramsey's personal finance ideas make sense?

What do you think about Dave Ramsey's ideas on saving money and debt? Does it make sense to never take out a debt consolidation loan or to only buy a house with a 15-year mortgage?

Should I make a withdrawal from my 401k to invest in a below market price condo?

I'm trying to figure out how to start downsizing and am considering using $110,000 of my 401k to pay cash for a small condo at a below market price. I just refinanced my home at 3.375% and would consider renting it out for 2-3 years until the market rebounds a little more in this area. Other than mortgage my only major expense is $25,000 tuition for my daughter who is just entering her 2...
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Are life insurance policies with medical exam more dependable?

I am in process of purchasing ten year life insurance. Are life insurance policies not requiring physicals as dependable as those requiring physicals?One company is presenting a $50,000 Universal Life ten year policy. Another; AAA Life Insurance Co. will sell $50,000 term Insurance and doesn't require physical. Premiums monthly are higher than AAA Company. Which company is more dependabl...
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Should I withdraw all my 401k funds? Can I make an international wire transfer?

I am 66 and will retire this June. How can I cash out my 401K and take the money with me to my home country, Hong Kong, where I will spend my retirement years. I will pay the tax at distribution but I am concerned about moving the money out of the country. Will there be any additional taxes or penalties for taking it out of the country? I have $188,000 in the account. ed

How can I protect my retirement account from the European debt crisis?

I have much of my retirement savings being managed by Fidelity. Should I be concerned about their heavy investment in the failing European markets and think about moving my money into something else?

Keep the money in my Roth IRA or use it to pay off my credit card debt?

i have about 25,000/30,000 in credit cared debt,from college for my kid's and being out of work at various time's and finally out of work for good at age 55 from being hurt on the job permentaly with a internal body problem. i can payoff this debt if i want too, but i'm keeping my money intact to generate money in my Roth. my question is should i payoff the debt and start rebuldi...
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I want to start gifting money from my IRA accounts to family members. What do I need to know?

I want to start giving money from my IRA accounts as gifts to my family members. I know I can give up to $13,000 a year without tax penalty. Should I do this through a lawyer or just through my financial advisor?

Can I convert my 401K and traditional IRA into a Roth IRA?

I am 61 and retired 1/1/11 from full-time work. I also have a small business (sole proprietor) that I still work. Over the years, I accumulated three 401 K plans. Two are still with former employers/one I rolled over to a self-directed IRA. I also have my own Roth IRA. I have no need now for income but when I do, does it matter which account I take a 401K distribution from? Would it be bette...
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International Buyers Group contacted me to broker my timeshare. Is IBG legitimate or a scam?

I'm considering selling my timeshare. I was contacted by a company, International Buyers Group, out of Little Creek, DE. They are not listed with the BBB or the Chamber of Commence in Delaware. How can I find out if this company is a legitimate company or a scam? I have an address and when I Google it, it looks like a residential area.

Who is a life insurance policy's beneficiary in a contract where no beneficiary is named?

My husband recently died and I found out that no one was listed as his beneficiary on his life insurance. Who will get the proceeds from this policy? I am the second wife and his two children are grown and on their own.