Please note that this is computer-generated transcript - may not be 100% accurate
We're in the money (singing) This is On the Money with the Certified Financial Group, Central Florida's oldest and largest independent certified financial planners, 401(k)s mutual funds, reverse mortgages, real estate, annuities, anything financial. Your calls are welcome at 407-290-0058. Toll free 1-800-329-5858. Planning tomorrow today with the Certified Financial Group. Now here's WDBO Kirk Hugh. On the Money this morning, your 401(k), have you taken a look at it lately? Also we're going to talk about some charitable ways to avoid taxes and how apropos rainy day funds. We'll get to that as well. The expects from the Certified Financial Group are in the studio with us today. With us we have two of the Certified Financial Planning practitioners from the Certified Financial Group. So good morning to Nancy Hecht and Harry Stadelmayer.
Good morning Kirk!
How is everybody?
Wet, Dry.
It's nice of you to come out this wet morning. I know that a lot of people would rather, including myself, just pull the quilt a little bit higher and snuggle up and go back to sleep.
Perfect day for that.
Yesterday afternoon was a great napping afternoon.
I know I was there.
Given the opportunity.
I was there. Hey listen, if you would like to call, let me give out the phone number again and you could talk to Kyle and he'll set you up here. The phone number is 407-290-0058. The toll free number is 1-800-329-5858. You can have any kind of financial question be it in regards to oh well your 401(k) or your IRAs or roll overs or mutual funds or stocks or bonds or real estate or long-term health care of reverse mortgages or you know, anything financial. The experts have braved the storm to be with you this morning and the telephone number again 407-290-0058. Now Nancy, if somebody is a little bit shy about coming on the radio they can always e-mail you.
I was just going to read an e-mail but I just popped a contact lense so could you do me a favor? Could you read this e-mail for him? Go ahead.
Well I don't have the shortened version. I don't have
I'll tell you what, I'll get my contact back in and then we'll do the e-mail maybe meantime we'll talk to Bob because Bob wants to talk to you guys. Okay.
Let's talk to Bob.
Bob, Bob, you are on WDBO Hi Bob.
Hello.
Good morning Bob.
I borrowed stock prior to X dividend date and then sold it shortly after X dividend date. This is all in a 401(k). Do I owe any extra taxes?
No. If this was in a 401(k) that's qualified money so you know any gains any obviously in a retirement plan there are, unless you pull the money, you can buy and sell all day long and not realize any gains or losses. So regardless of when you bought that and regardless of the dividend they paid. You don't owe any taxes on that unless obviously you pull the money out. Then it's probably all taxable to you.
It would be taxable as ordinary income.
Yeah.
No, I left the money where it was. It's in a Bank of America .
You're cool Bob. You have nothing to worry about.
Nothing to worry about at all.
Thank you.
Thank you Bob. The telephone number again 407-290-0058 and I think it's Marge in Orlando. Hi Marge! You're on WDBO.
Yes, I know that my Social Security is not going to be increased this year but I wondered about the medical premium that they deduct, the rate increase.
Well we haven't really heard anything along those lines yet. Actually that's one of the big debates that's going on right now or actually one of the big debates that's not being talked about. And what's going to happen with that portion and funding and increases. So it's really an unsettled matter at this moment Marge and I would say you know keep your ears to the news.
Okay, just need to know for planning next year.
Okay, I am sorry that we don't have a concrete answer but the government doesn't have one for us on this issue right now either.
Alright, last year they were talking about there being no minimum distribution required this year for my IRA.
Correct.
Is that still good or has that changed?
No for 2009 it's waived if you so choose. Did you take a distribution before that was announced?
I took a distribution for 2008.
Okay great. Well for 2009 you can waive your distribution with absolutely no penalties. For next year you definitely have to take the distributions though.
That helps a lot.
Next year we're going back to the required minimum distributions.
But it will be based on my age at that time, they wont have to make up for this year. That's correct. Okay, thank you very much.
That opens up a phone for you at 407-290-0058. Toll free 1-800-329-5858. Is this morning, isn't today the day for Roger's countdown to retirement workshop?
It most certainly is. It is. What's that all about and are there any seats left?
There are a few seats left. Roger is doing a countdown to retirement at 11:00 today in our Alta Monte office. The purpose of this seminar workshop is not to sell you any books or tapes but it's to give you good information if you are at or near retirement and you're looking at all the different options that you're faced. A lot of decisions and you really don't want to make any mistakes. So Roger is going to go through step by step as to what factors are involved when you are at or near retirement. That's going to take place 11:00 today in our offices in Alta Monte Springs. And I do know that as of yesterday late he had a few seats left.
And you know with rainy weather like this there's always going to be a couple of no shows.
Right yeah but he plans on being at the office in about 20 minutes so if somebody wanted to call and make a reservation or let him know that they're coming by then they can certainly .
Here's the telephone number for the Certified Financial Group in Alta Monte Springs. 407-869-9800. Speaking of workshops, before the program you and I were talking to Nancy and you said something about some workshops coming up next year.
Right right, well you know in the past few years we're seen some unprecedented economic conditions. We're seen for example gold at all time highs. Although it does remain quite volatile. There's a lot of volatility also with the dollar. The credit landscape. I think most people realize and have felt that it has changed drastically. We've seen the stock market drop like a rock and then we seen it take off like a rocket all within this year. There's a lot of questions in reference to inflation, to interest rates, and if you're retired, will you still need income beyond what your investments can provide for you if you're not retired. Would you like to be able to retire someday? I mean these are all things that are important for us to consider and sometime in the first quarter of this year, I am still putting this together. I am going to be holding a series of workshops to discuss five practical approaches and solutions so that you can be better situated to succeed in the coming year. So right now if you're interested in learning what my five practical approaches are. They can e-mail me at Nancy@financialgroup.com and I will keep people posted as to what the times will be.
Keep Going, It's all about planning.
Should be fun.
Marge said something really interesting, our last caller, she said that she was planning for next year. I think that is, That's awesome. She's already sitting down here it is the beginning of December and she's looking at, sounds like she's looking at her budget already and trying to get things in order and part of that is Social Security. Whether it be raised or not. I think that's something we all should be looking at. Not just going through the year blindly. I think planning is something that everybody ought to look at. Harry Saddlemeyer and our special guest this week Nancy Heck author of the Heck Effect and A Man is Not a Plan is in the studio with us this week and you could talk to her and he. You can talk to him as well. 407-290-0058. 290-0058. Can we talk to George real quick before we go to the break. Alright, George in Apopka go ahead you're on WDBO.
Okay I received mail that has to do with an exchange offer with Bristol Meyers Squibb and Meade Johnson to Nutritional Company
Okay.
I don't know whether they, it's going to I have to let them know by the 14th of December.
Right.
And I don't know actually what it entails and I want to know whether I'm in favor or against it.
Well what they're offering is a dollar ten of the new company for every dollar of Bristol Meyers Squibb that you own. You know which on the face of it is not a bad return on your investment right off the bat. You know there's been a lot of changes and consolidation in the pharmaceutical world and this is just another step that we're seeing in those regards.
surviving company. Is it going to be Meade Johnson or Bristol Meyers. I think it's going to be a combination of the both but Meade Johnson is going to be the name that you will be seeing.
Oh okay, so alright, okay. Alright then I'll mail this in because I thought that's what I would do but I didn't completely understand it and trying to read that whole brochure, you know.
Right right, yeah.
And most of the lay people like myself probably wouldn't understand everything anyway. There was one other question I had to ask. It has nothing to do with this particular thing and I thank you for what you tell me.
Sure.
How does the Financial Group work like if I wanted to make a change or something, do you represent people as well as organizations?
Absolutely. We work with individuals on financial planning and anything that has to do with money. We offer free consultation, come in, let's have a cup of coffee, let's look at your situation and see if we can be of help now or sometime in the future and it doesn't cost you anything to sit and chat with us.
And George we do not represent any investment companies, insurance companies, anything along those lines. Our client is you and we put together our plans and manage your investments in the manner that is going to best suit your needs.
Alright thank you sir. Alright here's an open phone line for you, here's the phone number 407-290-0058. We need to take a break and then we're going to come back and we'll take more of your phone calls. If you have anything financial on your mind. Also, have you taken a look at your 401(k)lately? We'll be talking about your 401(k)s and some charitable ways to avoid taxes. The most charitable way to avoid taxes. Donate your high flying stocks, see I got to get down on the floor now and find that contact lense. Donate your high flying stocks or funds. We'll talk about that coming up with Nancy Heck and Harry Saddlemeyer both from the certified financial group where we're planning tomorrow today.
It's an Ask the Experts Saturday morning on WDBO. It's good to have you along with us. It's 9:23 coming up in seven minutes at the bottom of the hour. Bob Johnson in the WDBO newsroom with today's top local and national stories, a look at your traffic and how long is this rain going to last? That's all coming up at the bottom of the hour here on your news traffic and weather stations WDBO. It is in the study, Nancy Hecht author of the Hecht Effect also A Man is Not a Plan is in the studio and sitting alongside Harry Saddlemeyer and they're both certified financial planning practitioners and I am going to ask real quickly, personal question to Harry before we continue with our next caller. How is Arnold Palmer? Mr. Palmer?
Palmer is doing well. we are cranking. Meetings are going well and getting prepared for our March tournament. So everything is going really well, we're excited.
Is Tiger going to play this year?
No comment.
Alright let's get back to the phone. Hey maybe we could talk, could we weave that in to some kind of financial question.
Actually there is a Tiger index, I read this week, a Tiger index all the companies that he represents how they actually plummeted this week.
Oh, you're kidding.
And that's probably because they all stuck with him without hesitation.
They will, they'll stick with him.
Wait until they hear the news coming Monday.
Alright so, we digress.
Alright, 407-290-0058. Of course you can hear all the news coming up on Monday morning 5:00-9:00 with Jim Turner on Central Florida's morning news.
Mary Ellen in Orlando. You are on WDBO.
Yes I have a question about IRA as well. I turned 70.5 this year and I want to know when next year I have to take an IRA distribution and whether I take one or two in light of the fact that I was going to take one this year but then the IRS waived that. I am wondering when do I take it next year and once or twice.
Mary Ellen you have to take your first distribution by April 1st of the year after you turn 70.5 so if you turned 70.5 this year then your first distribution would be next year. And then you will have to take your distribution for 71 next year.
You'll have two next year Mary Ellen.
That's what I mean, I take one before April
And then you have to take another one before December.
That's what I was most confused about.
Yeah, you have to take that first one is a required mandatory. That's by April 1st and then the second one to do your regular has to be done before the end of the year. Telephone number 407-290-0058. Back to the phones and Pat in Deltona. Hi Pat, you're on WDBO.
Hello?
Hi Pat!
I am considering taking a distribution from my traditional IRA. According to the IRS, it's treated as ordinary income and I find that once I take my itemized deductions off, I have no taxes.
Okay? And your question is? Is this a good thing?
What my question is, I was thinking about taking that distribution. I could just put it in a CD but I was considering putting that into a Roth IRA. Because then it would sit, I understand that you can't touch the money for five years but it would sit there and you wouldn't have any tax liability at that point.
Well Pat can ask how old you are? Please.
64.
Okay, so you don't have any of the penalties that are involved. You certainly could pull out that distribution and if it's not taxable because of other deductions it's a nice way of putting money aside. And then if you did want to roll that into a Roth you know it will continue, then the Roth at some point you'll be able to pull that money out tax free.
Actually I just wondered if that was a good idea, am I look at that properly so that wouldn't have any other tax liabilities because I understand that you always have to pay taxes on a traditional IRA.
Correct. Here's a couple things you have to be concerned about Pat. You want to do this. If you're going to do this you need to do it as a conversion from an IRA to a Roth. You don't want to do a withdrawal and then do a Roth contribution because you have to have earned income for the contributions. So please do it as a conversion.
Conversion okay.
Right, and you need to be able to pay the taxes on the amount that you're converting from your IRA to the Roth with outside collars.
Excuse me?
If you are going to convert say $10,000 from your IRA to your Roth. And then say you would owe $2,000 in taxes if you're in a 20% tack bracket. You should be able to pay that $2,000 tax with monies outside of this IRA money that you're converting. But you said that after doing your whole you really owe nothing.
So it sounds like a great time for you to make this conversion.
Okay, that sounds , I was wondering if I was looking at it properly.
Okay well thank you very much.
Thank you for the call Pat and Jerry in Kissimie you hang on because we're going to come back alright? After the news we will take your telephone call. This is On the Money with the Certified Financial Group and in the studio we have Nancy Heck and Harry Saddlemeyer and both are available for your phone call. If you have a question you'd like to put the panel this morning, it's 407-290-0058. And toll free 1-800-329-5858. On the other side of the news we'll tell you about a special event going on here this morning at the offices of the Certified Financial Group. It's the countdown to retirement workshop and it's free it's available and there might be seats left. We'll find out. We'll talk to Roger coming up. Also, rainy day funds for a rainy day. That's straight ahead here on WDBO. Information presented on this program is believed to be factual and up to date but we do not guarantee it's accuracy and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice but is limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Certified Advisory Corp is registered as an investment advisor with the SEC and can only transact business in states where it is properly registered or is excluded or exempted from registration requirements. It's the ask the experts, Saturday morning on WD It's Ask the Expert Saturday morning on WDBO. Good to be along with you, my name is Kirk Healy and I am sitting alongside Nancy Hecktigent here broker with the Certified Financial Group. Real quick reminder, that coming up right after the news at the top of the hour, it's central Florida's original home fix up show. It's called Florida Homes and Gardens with Jim Heidisch from Accurate Window and Door and Rick Eagen of Eagen Construction. And both will be in this morning to help you got anything going on around the home you need to ask a few questions about home repair or home fix up home remodeling, whatever. They'll be here with a on Florida Homes and Gardens. It's all part of you Ask The Expert Saturday on WDBO. In the studio with us Nancy Hecktigent and Harry Saddlemeyer and if you can't get through to these two. Well wait a minute, Roger is really not taking calls.
No he's, I mean he could take calls now until maybe for a half an hour or so.
Well who do we have back there?
roger roger.
What?
Hey, we've got a few seats left for count down to retirement today. I am going to be doing my count down to retirement workshop 11:00 this morning here at our office. We still have a few seats left if you would like to come last minute plans. You still have about an hour and a half to get here. What's it all about? Well, it's going to be for folks that are planning for retirement within say three years of retirement and we want to make sure you're doing the right things before you retire. So we're going to walk through a checklist of things to do and cover that and also have a light lunch for you and of course my wife is cookies.
Cookies.
That's right, and Harry will be right back to the office I think to get a couple.
Got to get a couple of those cookies.
I'll have to set a couple aside for you.
Anyway, it's 11:00 and we'll wrap it up at about 1:00. Plenty of time to get back for the big football game this afternoon and the location will be at our office at 1111 Douglas Avenue in Alta Monte Springs. And if you'd like directions you can just give me a call, I'll take calls to give you directions. 407-869-9800 and again we have a few seats left so look forward to seeing you this morning at 11:00.
Okay Roger thanks.
Thank you.
Roger, over and out. We're only kidding Roger.
You're so clever.
Roger is a pilot. You know, anybody knows this song with the name Roger in it, we'd be happy to play that. But you know like when we intro other guests they have their own song. Well there is no song with word Roger in it dog gone it. Or is there? Kyle's mind is racing here.
He's racing.
So submit that and I'll send you a T-shirt or something, I don't know if we have any T-shirts left but I'll send you something. Harry Saddlemeyer, Nancy Hecktigent. They're available for your phone call 407-290-0058. Now if you can't get through you can always e-mail. We were talking a little bit earlier about 401(k)s and you have an e-mail in regards to a 401(k).
I do, I do, and this e-mail is from Joe and Joe is really the guy's name. And Joe has been working for a particular company for 16 years and unfortunately he has become a victim of the current marketplace. And his question is in regards to his 401(k). He says "I've been told by friends that it's not a good idea to roll over to an IRA or to a CD because it would tie up my money for an extended period of time. And then another friend of his suggested that he leave his 401(k) exactly where it is because it would be beneficial when the economy picks up." And he wants to know what we think. So what I'd have to say Joe is generally what we recommend is that you do roll it over. We're not big fans of leaving it with the company. When you roll it over to an individual IRA account you have a multitude of choices as opposed to the limited choices you have with your 401(k). And then more important than that, from a succession standpoint, if you roll over your 401(k) to an IRA you have a primary beneficiary, you have contingent beneficiaries, and they can use the stretch provision. The stretch provisions would allow for.
They would allow for the grandkids to inherit the monies and continue the IRA the tax deferral. And it could be for generations at a time and that is a huge benefit that many people overlook. But I think that the key here is that now you're in control of your IRA by rolling it.
Right.
Versus having it at an old employer that maybe only has six or seven choices from the investment side.
And if liquidity is a concern, if this is an area that until his Social Security starts coming in that he thinks that he might need money. Then there's always a money market option which is liquid. And so you can have access to the dollars from the IRA. He's 64 so he doesn't have to pay any penalties for early withdrawal.
And I think the important key here is at least be a direct roll over. Do not take constructive receipt because then all of a sudden you're taxed at 20% or they'll withhold 20% so again, if you're thinking about, or you have been retired or are retired and you're moving it to an IRA you need to be very very careful about the paperwork that you do. It needs to be a direct roll over. This is On the Money with the Certified Financial Group where We're planning tomorrow today. And in the studio Nancy Hecht and Harry Stadelmayer. Both are certified financial planning practitioners and they're both brought to you this week in part by the after 55 housing and resource guide. Let's get back to the phones and talk to Jerry in Kissimie. Hi Jerry! You're on WDBO.
How you doing?
Good morning.
Great, what's up?
I just want to I am retired and I heard that the COLA is not going to be given to the retirees this year, so $250 one time check and that's still what they plan on doing.
As far as we know nothing has changed in that regard.
Okay, my second part of that question is alright we get $250 how much is congress and senate getting? Do you know?
That's the billion dollar question. I don't know. Do you know Nancy?
Okay, no.
Because I read something that the congress is going to get 4,000 plus and the senates 2,000 plus close to 3,000.
What you mean in their personal accounts? Is that what we're talking about here?
I don't know what Jerry is talking about so.
I don't either.
Alright let's get back to the phones here. Edward in Lake Mary, Hi Edward you're on WDBO.
Thank you for taking my call.
Sure.
My question has to do with this week the house acted on the death tax which I consider to be a moral, in my own case, everything that I have, and it would exceed the minimum, and that I don't plan to die next year when it would be zero. So my question is, I have really a very specific question. In the case of a spouse who is ill, and I know probably seven million will be the limitation. How is that treated if my spouse proceeds me in death?
Well if your spouse predeceases everything goes to you with no taxes at all. You could inherit $700M if she predeceases you, all the assets then go into your account re titled and there is no tax due.
Then upon my death, of course I'm making every opportunity I can to try to provide money to my children. All this money by the way is through earnings on which I've already paid income tax and then on investments in which I've already paid capital gains and other taxes. So this is my third round of being taxed. This is not a, I am not a trust fund baby or anything of that sort. So my ultimate, assuming that my wife precedes me in death, and my tax burden would be on the total which is say for purposes exceeds the 3.5M that the house just passed. In which case I pay 45% on everything. Is that correct?
Unless you do some creative planning and that's where estate planning really comes in Edward. In the surface it looks like that but we would want to sit down and start looking at using life insurance to pay some of it, setting up trusts to help defer some of that.
I've done all that. I am still going to get hammered. I am not the Teddy Kennedy you know with my money hidden in Fuji Islands. How does someone who is not very wealthy but certainly more wealthy than the congress deal. How do they deal with this issue?
Well I mean there's various different things. Harry mentioned trusts, you know charitable remainder trusts, giving the money away while you're alive. There's certain amounts of dollars that you want to go to your children and you want to go to specific charities, give it away while you're alive. I mean other than that, you know, welcome to America.
Though the other thing is using discounted dollars in life insurance ILITS meaning life insurance trusts. By using discounted dollars to pay those heavy duty tax on some of the estate. Because there are some real creative, I don't know how deep Edward is going, but there are some very creative ways that we could take a look and make sure you've maximized everything Um, we could take a look and make sure you've maximized everything. Alright, here's the phone number 407-290-0058. when we come back from the break we'll tell you how you could get a private consultation with anyone of the ten certified financial planning practitioners at Central Florida's oldest and largest independent group of certified financial planning practitioners. And that would be the Certified Financial Group in Alta Monte Springs. Here's the phone number you can join us right now at 407-290-0058. Also coming up, Rainy Day funds for a rainy day, I'm just looking outside the window.
It's not as bad as it was predicted.
No, that's true.
They said it was going to be torrential right now.
Tell that to the arthritis you know.
Alright, more coming up.
Nancy Hecht and Harry Stadelmayer from the Certified Financial Group are on WDBO.
It's an Ask the Experts Saturday morning on WDBO 9:51 it's nine minutes until 10:00 your next update with Bob Johnson the WDBO newsroom. He'll have today's top local and national stories, traffic, your weather forecast, your wet weather forecast for the next couple of days or I think.
No, I think it might be today and that's it.
Is that right?
It'll clear up this afternoon.
Well Bob Johnson will clear that up at the top of the hour. And then it's Florida Homes and Gardens here on WDBO. All part of your Ask the Experts Saturday. And in the studio with us we have Harry Stadelmayer and Nancy Hecht, both are certified financial planning practitioners.
All two of us.
And it's a rainy day outside Harry, it's a rainy day and you were going to talk about rainy day funds.
Rainy day funds are very much overlooked. Rainy day funds are those funds that are sitting in a very very safe vehicle, money markets that are there for emergencies. And the problem with most people is what they don't get there, that's the basis, that's where we start when we start doing planning is to make sure that you have these rainy day funds that if your hot water heater goes or your roof is leaking, those are funds that you can withdraw and use them to pay for those emergencies and not pull out the credit card and then end up paying for that water heater for six months. So rainy day funds, emergency funds are extremely important when we do financial planning and they are not to be used to invest. A lot of times people use rainy day funds and they want to invest it and try to maximize the return on this. The first and most important aspect of a rainy day fund is that it's safe and that you can get to it this afternoon. Very important.
Just in case you run across and sales while you're at the mall.
No. That's cash flow.
Oh, okay. I always get those two confused.
Yeah I've heard some people talk about the great deals that they got on Black Friday and how could you pass these up and my comment is, do you need it? And are you paying cash for it?
There you go. Geez, you're too good. You got to fill in for Clarke Howard when he's off. Alright, let's talk to. Or wait a minute, before we talk to Gene in New Symrna Beach. Nancy Hecht, we're talking earlier about charities and how an interesting way to take some tax burden issues .
Right, I just did this with one of my clients and it took a whopping three days to get from point A to point B. You know, a lot of people still want to make some charitable donations you know and charities are hurting big time and the amounts that some people are making are certainly less but if you have a highly appreciated mutual fund and we've seen that the markets have gone up significantly this year or a particular stock. You can actually just transfer, that fund or the stock directly to the charity and a lot of charities are set up to do that. Let's say for example that you had bought a stock two years ago for $5 and it's up to $15 now. So you invested $500 and your $500 is worth $1,500. If you cash it out then you're going to pay capital gains tax on that $1,500 which would be $150. If you just transfer the stock you get the deduction for the whole $1,500 if you're in a 25% tax bracket then you're saving $500. So it's just a really easy thing to do. You want to make sure that you have paperwork documenting that it is a qualified 501 C3 non-profit organization. But it's a very simple transaction to take 100 shares of XYZ Mutual fund or stock and move it from your investment account to the name of the charity.
But do your homework on the charity as well.
Most definitely.
There are a lot of charities that are cash strapped and you know be careful, do your homework on the charities. Hey, I haven't asked you guys this in a while. Are you folks taking clients? New clients?
Always.
Because I know how busy you are.
We are busy but we love sitting with new folks that are looking to plan and looking but have questions. Folks you know always ask us you know, how's your business. And I say we're really busy. You see your doctor when you're ill and there are a lot of people that are financially ill out there and need some planning. So yes we would love to sit down and chat with you about your financial situation, whatever it may be. And we don't charge a dime to do that.
And you get a primary private consultation.
Correct.
How do they do that?
All they have to do is either call our office at 407-869-9800 and one of the certified financial planners will speak with them. They can e-mail us at financialgroup.com and request a complimentary consultation with one of the certified financial planners. Or they can call 1-800-EXECUTE which is our toll free number like your executing your financial plan.
Alright, we'll give you those numbers again here coming up shortly. Gene in New Symrna, you're on WDBO.
Thank you for taking my call.
Sure.
I have a quick question. I am retired on Social Security. I have a 401(k) at my old work. I go back there part time and work probably four months out of the year. They still match my 401(k) contribution.
Wow.
Would it be smarter for me to leave it there and continue to get the free money or roll it over into an IRA? I do not need the income from this 401(k).
How is the performance of your 401(k) been Gene?
Well I haven't made a whole lot of money but I haven't lost any money.
Okay well what you need to make sure of is if you roll that money that your company will still match. The matching part, for you to be there part time and they're still matching. That's a pretty good deal. That's a real good deal, you do not want to jeopardize that. So you know my first thought is to leave it there if you've had decent performance. We also manage 401(k)s now as well. If you're interested in having us look at your 401(k) and perhaps managing it. We now do that as well at the Certified Financial Group. But don't do anything to jeopardize that matching. That's a huge benefit. Especially on a part time basis.
One other option that you have Gene is maybe the best of both worlds is if they offer in service withdrawals you can withdraw a chunk, do a direct roll over to an IRA and then keep contributing to the 401(k) and getting the match.
Thank you Gene and thank you everybody for your telephone calls. We're just about out of time here on the program but we do have enough time left to give you the telephone numbers and tell you that it's still not too late to hook up with Roger Johnson this morning at the office. They're doing a count down to retirement workshop. How do folks get in touch with Roger right now or can they just show up?
Well right now if they would call 407-869-9800 he has I think like five seats available. But if somebody is on the road and because it's wet and you know they're being good driving with their headlights on, and don't want to be making a phone call or texting, they could just drive over.
Now that you've done your PSA, you threw that in there didn't ya? Hey real quick because we're running out of time here, is that the same number we call to find out more information about your workshops?
They could do that or they can e-mail me at Nancy@financialgroup.com to get themselves in the queue for the five practical approaches for successful next year. Five practical approaches for a successful next year.
A successful 2010.
banshee
At FinancialGroup.com the number for the Certified Financial Group, 407-869-9800. Stay tuned for Bob Johnson in the WDBO newsroom.
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