Posts by Graham Miller, CFP®
Financial Advisor
Ask an Advisor: Can a Nursing Home ‘Take Our IRA?’ My Wife and I Are Elderly. We Have a $100K IRA and a Trust to Protect Our Assets.
My wife and I are elderly. I have an individual retirement account (IRA) worth about $100,000, and we have a trust set up through our children to protect our assets. If one or both of us have to go into… read more…
Financial Advisor
Ask an Advisor: I Have $240K in Debt, and My Portfolio Is Down. Should I Tap My Retirement Accounts to Repay Credit Card Debt?
With stocks and bonds down, should I use retirement assets, such as a Simplified Employee Pension Plan (SEP) IRA, Roth or annuity, to pay down credit card debt? My stocks are down 15% to 20%, and my annuity is the… read more…
Financial Advisor
Ask an Advisor: Should I Roll Over a Workplace Retirement Plan Such as a 401(k) to an IRA While the Market Is Down?
Should I roll over a retirement account, such as a 401(k), 403(b) or 457(b), into an individual retirement account (IRA) when the market is still down? Should we wait until the market comes back up to its previous levels? -Anonymous… read more…
Financial Advisor
Ask an Advisor: My Child Works a Low-Paying Job. Is ‘This a Great Time’ for Them to Max Out a Roth IRA?
My child is in a low-paying job that puts them into a 0% or maybe a 10% marginal tax bracket. Isn’t this a great time for them to max out a $6,000 Roth IRA contribution? We are considering a gift… read more…
Financial Advisor
Ask an Advisor: Should I Stop Reinvesting Dividends?
Is there a point at which I should stop reinvesting stock dividends and invest the money or save the cash? -Anonymous Many financial experts recommend that you reinvest dividends most of the time – and I’m inclined to agree. The… read more…
Financial Advisor
Ask An Advisor: I Live on Social Security and Food Stamps. Can I Protect My Investments in a Down Market?
I’m retired and living on Social Security and food stamps. I have all my money in two conservative retirement accounts. I cannot contribute any money to them. I plan on taking distributions in five years. What’s the best course of… read more…