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Availability

  • Guy Baker CFP®,AEP,ChFC,CLU

    Irvine, CA

    Retirement, Investing, Insurance

    1160 answers

    848 out of 1334 people found Guy's answers helpful

    Most recent answer
    I'm retired with my retirement investments in two different brokerage companies. I'm considering combining them into one for simplification of tracking. Is there any advantage in keeping two accounts versus one?

    The only real benefit probably is simplification. If you have them at the same place, it might be easier to view them on one website. If the money can be combined, then you can save expenses, by only having one account. Also, you can have the same strategy applied to both easier.I think there is an advantage of having them in the same place. When you report your taxable income, it is easier to have it on one statement.Hope this...more »

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
  • J.R. Robinson

    Honolulu, HI

    Personal Finance, Retirement, Investing

    58 answers

    19 out of 20 people found J.R.'s answers helpful

    Most recent answer
    I've heard that it's wise to hold the equivalent of 6 months salary in a liquid account (i.e., cash). This seems like a big chunk of change. What are the reasons for doing this, and what are reasonable exceptions?

    The basic concept behind having an emergency reserve is simply to be prepared for situations in which one is faced with a loss of income for a prolonged period of time or a sudden unanticipated major expense.  While the concept of being prepared for exogenous financial shocks is sound, the "six months of salalry or living expenses" rule is merely a cookie cutter rule of thumb with no real quantitative research underpinnings.  I tend to agree with you that the concept is...more »

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
  • Johanna Fox Turner CFP®,CPA

    Mayfield, KY

    Personal Finance, Retirement, Investing

    791 answers

    259 out of 281 people found Johanna's answers helpful

    Most recent answer
    Can my brothers and I be sued for my mother's defaulted mortgage?

    Since you did not sign the note, you shouldn't be liabilt for your mother's debt. It sounds as if the bank is trying to list any other possible resources, perhaps in hopes that you will step in because it "feels" right. To be totally sure, you might want to meet with a real estate attorney licensed in the state where the property is located. He might draft a letter to the bank asking them to remove your names from the suit.Happy Thanksgiving, good luck and I hope this...more »

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
  • Yun-Fang Juan

    Palo Alto , CA

    Small Business

    5 answers

    2 out of 2 people found Yun-Fang's answers helpful

    Most recent answer
    I'm a 50 year old single mother. I'm running my own catering business to stay home with my daughter. I had her when I was 38. I'm trying to get someone to have faith in me to help me get started again. I need a loan to buy a truck, where should I look?

    If you are in California, Opportunity Fund will be a great choice for you. They specialized in commercial truck loans, especially for people who have food truck/catering experience,  I think your profile matches their ideal borrowers pretty well. Go check it...more »

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
  • Robert Henderson CDFA

    Mystic, CT

    Personal Finance, Retirement, Investing

    46 answers

    36 out of 57 people found Robert's answers helpful

    Most recent answer
    I have had a Rollover IRA for about 20 years. The original amount was $8,000 which has grown to $61,0000. Can this be converted to a Roth using the "Back Door Roth IRA contribution"?

    This is not a Backdoor Roth Conversion.A Backdoor Conversion is when you contribute to a non-deductible traditional IRA, and then convert to a Roth. In your case, you are looking to take an existing, deductible IRA and convert it to a ROTH. You can do this, but there will be tax consequences. You will likely owe income taxes on the entire conversion.I suggest you work with a tax professional on this, as adding 61K to your income could have all kinds of tax implications, depending on your income...more »

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
  • Michael Cash EA

    Modesto, CA

    Taxes

    115 answers

    46 out of 74 people found Michael's answers helpful

    Most recent answer
    I haven't filed my taxes in 5-6 years. I have a small business with no employees but am starting to make good money and want to just get it handled before its beyond repair. Any help you can lend would be great. Do I need an attorney?

    Ah!  The kind of mess that most of my clients seem to have.  As a matter of policy, IRS will solicit six years of delinquent tax returns.  You don't need an attorney unless there are some unusual legal issues or an IRS Special Agent comes out and read you your rights.  If you had losses in earlier years the loss would have to be carried back before being carried forward and the statute of limitations on adjustments to carryback years has expired.  Your income tax return...more »

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
  • Brian McCann CFP®

    San Jose, CA

    Personal Finance, Retirement, Investing

    260 answers

    87 out of 92 people found Brian's answers helpful

    Most recent answer
    I've heard that it's wise to hold the equivalent of 6 months salary in a liquid account (i.e., cash). This seems like a big chunk of change. What are the reasons for doing this, and what are reasonable exceptions?

    I think the 6 months expenses rule is a good one. It leaves you with much more financial flexibility in the event that you need to make a large purchase. I could see a family getting by with less if they were a dual income couple with very stable jobs. Then 3-4 months might be more appropriate, particularly if the rest of your financial house was in good order. For a single earner family with multiple children, I would recommend more than 6 months living expenses in some cases.While this may...more »

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
  • James Kinney CFP®,CCPS

    Bridgewater, NJ
    Cranbury, NJ
    Flanders, NJ

    Personal Finance, Retirement, Investing

    141 answers

    218 out of 286 people found James's answers helpful

    Most recent answer
    What valuation date should I/can I use when funding a credit shelter trust with stock? Date of death or date of funding?

    I am in NJ myself, and even as a financial professional, I wouldn't even attempt to deal with NJ estate tax without the professional advice and assistance of a good CPA, and this is who should be answering this question for you....more »

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
  • David Hunter CFP®

    Asheville, NC
    Greenville, SC

    Personal Finance, Retirement, Investing

    366 answers

    196 out of 330 people found David's answers helpful

    Most recent answer
    I'm retired with my retirement investments in two different brokerage companies. I'm considering combining them into one for simplification of tracking. Is there any advantage in keeping two accounts versus one?

    Only if you are limited investment wise between the two.  If not, go for it!Best...more »

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
  • Mark Prendergast CFP®,CPA

    Huntington Beach, CA

    Personal Finance, Retirement, Taxes

    22 answers

    10 out of 11 people found Mark's answers helpful

    Most recent answer
    What type of retirement fund should I be putting my money in?

    I'll ignore investments.  First, Filing Status.  If you are recently married (and not heading for divorce), you have no reason to file "married filing separately".  If it's a thing about keeping your assets separate in this new marriage, no big deal.  Save the money by filing jointly and split the savings and each of you will probably have more assets to "keep separate".I'm not sure what "recently" means, but if it means like June 15 (for example), you live in a community...more »

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
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