Getting Personal
This week, Tess Vigeland and economics editor Chris Farrell answer questions about what happens to an IRA when the bank it's with fails, and whether it's a good idea to buy shares in Freddie Mac and Fannie Mae right now.
Getting Personal (Marketplace)
More on Chris Farrell's Q & A
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From Billings, MT, 01/03/2009
Love the show, which I now listen to via Podcast. My wife and I are now teaching at an international school in Qatar, where there are no income taxes, and our income is below the level to pay U.S. taxes. Would it make sense to pay Social Security taxes to the U.S. to maximize that income, or would it be better to invest in other instruments? Thanks!
From New York, NY, 12/30/2008
A question for Chris Farrell: I am 61, behind in retirement savings about $25,000 in IRAs and 401ks), and am prepared to keep working until at least 70. I'm inheriting $50,000. I have been saving 6% of income in a 401k because that is the matched amount. It occurs to me that I could have the entire catch-up maximum deducted from my salary and use the inheritance to make up the salary difference. This would be a way to transpose part of the inheritance into a 401k plan rather than invest it separately. What do you think?
From Seattle, WA, 12/28/2008
On a previous show Tess interviewed folks with better alternatives (read safe and sure) to 401k, Mutual Funds, Pensions and banks for a return of around 7%. An account anyone could contribute to not just for employers to provide employees. Returns betters than savings account. Her argument sounded reasonable. Where do I sign up?
From Seattle, WA, 12/28/2008
On a previous show Tess interviewed folks with better (read safe and sure) alternatives to 401k, Mutual funds and banks for returns around 7%. An account that anyone not just for business to provide employees for retirement. Returns better than savings account. Her argument sounded convincing. Where do I sign up?
From NY, 12/28/2008
i'm 65, retired, currently collect a pension, and plan to start collecting social security at 66, in february. my wife still works and intends to continue for a couple of more years; she is 63. my traditional ira accounts are about 30% down in value. it has been suggested to me to convert my traditional ira to a roth now because of its relatively low current value. is converting now a good idea?
thanks.
From Seattle, WA, 12/28/2008
On a previous show Tess interviewed folks with better (read safe and sure) alternatives to 401k, Mutual funds and banks for returns around 7%. An account that anyone not just for business to provide employees for retirement. Returns better than savings account. Her argument sounded convincing. Where do I sign up?
From Seattle, WA, 12/28/2008
On a previous show Tess interviewed folks with better (read safe and sure) alternatives to 401k, Mutual funds and banks for returns around 7%. An account that anyone not just for business to provide employees for retirement. Returns better than savings account. Her argument sounded convincing. Where do I sign up?
From Ashland, OR, 12/28/2008
A question for Chris Farrell: We're a self-employed married couple in our early 40's. We recently received a tax-free insurance settlement for an accident and we are considering paying-off the balance on our primary residence. That would leave us with no debt and the ability to take our monthly house-payment amount and build-up our retirement funds, which have been neglected as we've built our business. We'd like to know the pro's and con's of paying off our mortgage early? We've already checked with our mortgage holder and there are no early payment penalties. Thanks!
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