Q: I lost my job of 15 years in April. My employer decided to leave Florida, and I was not willing to move. I had a 401(k) retirement account with that employer with a balance of $167,000.
Q: My wife and I bought our house at the top of the market in 2004. With the plan to stay in Florida for three years, a 5/1 adjustable-rate mortgage, (80/20) with a home equity line of credit was the perfect choice, since we weren't planning on staying long, and didn't have the down payment.
Q: My second marriage is to a man who hasn't prepared himself for retirement. We married at 57, 15 years ago. He is an insurance salesperson who took his Social Security at 62 and has been working part-time ever since. I am a teacher who intends to continue working until 75. Our finances are limited. To overcome this, he wants to take out a reverse mortgage of $1,200 per month on our house now worth $60,000.
Q: With the housing market dropping as it is, I am looking to find a great deal on a town house in Miami Beach. Here is my dilemma: I have a very stable job, with a good financial package and steady income. I wasn't always a very good saver but in the past few years I have done a great job saving money and investing but I don't want to spend all of that money on a down payment. I know the type of property I want and with current lending practices, I am looking to find out what type of flexible loans...
Q: In a recent column, you suggested looking into global growth and income funds. I would appreciate if you can provide some examples of the funds in this category.
Instead of answering a question today, allow me to pontificate on a subject that threatens the fabric of many a household. While you ponder your personal finances, as one must do at times like this, be sure to examine your values, your ego, your influences and the choices you've made.
Q: I recently became the trustee of my father's estate. He is 86 and dealing with dementia. His estate is now valued at $20 million, and in a couple of months there'll be a possible increase of another $14 million.
Q: I just closed a $50,000 CD and will need income in three years. I don't like variable annuities and I need to protect my principal for my daughters. I am 66 and I have an IRA (only $10,000).
Q: I retired several years ago from the Miami-Dade School system. While employed, I used the 401(k) retirement vehicle (an annuity) for savings and after I retired I had well over $100,000 in that account. It keeps growing at 4.5 percent. With the economy so volatile, I'm wondering if I should take all my money out of it, pay the large penalty for taking it out before 2012, and put it in an FDIC insured retirement CD at a bank.
Q My wife and I are nearing retirement age and have taxable assets of just over $1 million, primarily in a trust fund with a large U.S. bank. The trust has been in existence for several decades and has consistently performed well and safely.
Two (or more) heads better than one in managing money Don't put all your eggs in one money manager's basket Q: My wife and I are nearing retirement age and have taxable assets of just over $1 million, primarily in a trust fund with a large U.S. bank. The trust has been in existence for several decades and has consistently performed well and safely.
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