Ask an Advisor

August 27, 2024How often can I change advisors who manage my assets? I just started in May and I feel uneasy with my advisor. – Maricor I’m sorry to hear that you’re not feeling good about your current advisor. The good news is that while there are some practical limitations to consider, there really aren’t any restrictions… read more…

October 14, 2024Because of our income bracket – we make over $350,000 per year – we cannot contribute to a Roth anymore. We’re 61 and 62, and planning to work until at least 67. Do we qualify to convert our 401(k)s into Roths a little at a time or do we have to wait until we retire?… read more…

August 14, 2024I’m 63 and have been on Social Security disability since 2008. My wife, also 63, stays home to care for me. We’re in poor health and were denied or quoted high rates for long-term care insurance in our mid-50s, with recent quotes as high as $1,850 a month for me and $2,750 for her. We… read more…

August 6, 2024I am the only eligible Social Security recipient in our marriage. My wife, at this point, will never have enough credits. I am 61 and my wife is 68. At what age would we get the most in Social Security where I get my social Security and my wife gets her spousal amount? – Tim… read more…

July 30, 2024After a recent job loss, I’m unfulfilled in my new role and considering retiring in January 2025 at age 55. My wife, 56, works part-time and we’ll switch to her health insurance next summer until she retires in two to three years. Until then, we’ll stay on my COBRA until May 2025. I’m struggling to… read more…

October 29, 2025I retired in 2022 at 62 years old. I have a $2,900 monthly pension and draw $1,900 per month in Social Security. I have $520,000 in my 401(k) and $24,000 in an IRA. I currently move $10,000 from my 401(k) to my IRA every time it increases $10,000 in value. Is it wise to do… read more…

July 17, 2024I’m 60 and plan to retire at 64 or 65, but I’m going through a divorce (my ex-wife will keep the house). Right now, my pension at work (I won’t receive Social Security) would provide me around 73% of my current gross income. If I wait a few more years, it will be a bit… read more…

July 16, 2024Is it smart to pay off my mortgage with money from my 401(k) and save $800 more per month? The mortgage balance is $60,000. – Robert Many people consider paying off their mortgage to be a “must do” before retiring. While there are benefits to this approach, there are also tradeoffs, so it’s good that… read more…

May 1, 2026My wife and I are 30 and 34. We have $950,000 in Roth IRAs, $900,000 in mutual funds and five-year CDs and we own our home worth $600,000. We have zero debt. I feel like we have to keep saving and investing to have a financially secure future, but my wife wants to live more… read more…

July 9, 2024My spouse will inherit her father’s house outright upon death and wants to sell it immediately. Would she be subjected to capital gains tax (above the $250,000 exclusion) on the sale and would it matter if only she is on the deed? Or would it make sense to have both of us on the deed to… read more…

July 1, 2024Retiring at 66 with $900,000 in a Roth IRA and $2,200 in Social Security benefits likely is a reasonable plan for many retirees. The income you could reasonably expect to generate from your Roth withdrawals, coupled with your Social Security benefit, probably will be somewhat more than the typical retiree’s expenses. You can likely expect… read more…

July 8, 2024I’m 69 and began to collect Social Security when I hit my full retirement age in April 2021, but I’m still working fulltime and making a good income. My salary is 2.5 times what I was making four years ago. Social Security has annually adjusted my monthly check every April based on my increased earnings… read more…

April 2, 2026We have $250,000 in the bank and one million to invest for retirement with no debt. We need to earn $50,000 a year from the million. Where should I invest it? – Rob First, congratulations on saving $1 million for your retirement; I’m sure a lot of hard work has gone into this! You have… read more…

October 24, 2025I’m single, 85 years old and I need a financial estate planner, as well as an attorney for a will. All of my investments are in mutual funds that I’ve managed myself through the years, mainly because I’ve had bad (and costly) experiences with both financial advisors and lawyers. I, therefore, keep my financial situation to… read more…

June 21, 2024If I am not spending all my required minimum distribution (RMD) money each year, can I roll some of this back into my stocks? If so, will I be taxed on the amount rolled back in? Would this be considered double taxation? If I’m only taxed on the additional interest this money generates when I… read more…

June 20, 2024I’m 63 and totally disabled. My wife owns and operates a family business on a property that we own with no mortgage. Our plan is to sell the business for $795,000 and rent the property for $6,000 a month. We also currently have $1.2 million in the stock market, $400,000 in CDs and high-yield savings… read more…

June 11, 2024How do I know which of my investments are better off in my IRA, Roth IRA or brokerage account? -Peter It’s great that you’re considering this – many people overlook the importance of where to hold different investments. Often, this is due to a lack of awareness about how significantly it can impact overall returns.… read more…

May 19, 2026Planning for retirement can be an exciting challenge, and figuring out how much you can realistically spend each year is a key piece of that puzzle. For example, a 62-year-old with $800,000 in savings and a monthly Social Security benefit of $2,600 can reasonably expect an annual income of $63,200 in retirement. However, this figure… read more…

June 4, 2024I’m a single woman with no children, turning 63 years old this year but my family has longevity so I’m using 100 years old as my life expectancy mark for retirement planning. I have a combined portfolio of $200,000 in a 5% money market, and $1.4 million in stocks in a 401(k) (mostly dividend stocks)… read more…

June 20, 2024I have an after-tax 401(k) that I would like to roll over to a Roth IRA with Schwab. Experts at Schwab say it can be rolled over to a Roth IRA without paying any taxes. I think they are wrong as I will still have to pay taxes on the earnings and capital gains accumulated… read more…

May 12, 2026In a previous article about Roth conversions, an advisor wrote: “For many folks, a prime time for Roth conversions takes place during the years after retirement but before Social Security and RMDs kick in. Those can be relatively low-income years during which initiating a conversion can result in a triple benefit. Those benefits are: lower… read more…

December 11, 2025I’m 68 and selling vacant real estate that is worth about $750,000. Is it better to reinvest the money by doing a 1031 exchange for income producing real estate or invest in the stock market? I’m already taking Social Security and only have about $100,000 in other liquid assets. I don’t have much other income, maybe… read more…

May 8, 2026Imagine that you’re 65 years old and just completed a Roth conversion during a low-tax year early in retirement to avoid future required minimum distributions (RMDs). However, not long after the conversion, you want to withdraw the money you just paid taxes on. But pursuing the withdrawal without first understanding the five-year rule for Roth… read more…

May 7, 2024Decades ago, I inherited a valuable piece of art, and I’m now considering selling it to finance a grandchild’s graduate degree that will cost $80,000. What do I need to consider in regard to taxes? Do I sell the piece and pay taxes? Then I could give the money to my grandchild over two years… read more…

December 9, 2024My wife is 76, born in 1948. She retired at full retirement age and currently collects $1,076 per month. I will be retiring and start collecting at 70 this year (I was born in 1954). When I collect $4,000+ per month does her monthly payment go up to spousal benefit automatically or does it have… read more…