September 2010

What Are Good Federal Stafford Student Loan Forgiveness Programs?

Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on an upcoming week’s blog post. A reader recently wrote in with the following question about his student loans and forgiveness. Is there a way to have my federal Stafford Loan forgiven? There are several instances where you may qualify for loan forgiveness of your federal Stafford Loan. What makes up good student loans forgiveness programs? Student Debt Relief also has a great tool for checking student … Read more

How Safe Is Your Money In The Bank? Should You Be Worried?

by Hank Coleman

Is your money safe in a bank? This is the next installment of the readers’ question series on the blog. Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on an upcoming week’s blog post. If you’re not familiar with Dave Ramsey’s book, you should run right out and get it. It is one of my top ten best personal finance books that everyone should read. A reader recently wrote in with the following question about the health and safety … Read more

Should You Pay Taxes For Your Roth Conversion From Investments?

by Hank Coleman

A reader recently wrote in with the following question about converting a 401k retirement plan to a Roth IRA and the tax consequences. Should you pay for the taxes when converting a 401k retirement plan to a Roth IRA from the proceeds of your plan? The short simple answer is no! You should not pay for your taxes from money that was in your retirement plans during a Roth conversion. Taxes On Your Roth Conversion You will have to pay taxes when you convert a 401k retirement plan to a Roth IRA. If you use money that was once in your 401k and you are not 59 ½ years old at the time of withdraw, you will not only owe … Read more