Financial Advice Q&A

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Question

My IRA contribution is not deductible, can I undo it?

I recently made a $5000 contribution to my traditional USAA IRA for this tax year. Our tax preparer said it was not deductible due to our in...

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03-19-2014 10:35 AM

Question

What are the tax implications of taking $35k from my IRA at age 66?

Wife and I are retired and both 66 years old. We have an USAA IRA account worth 60K and are wanting to purchase a Travel Trailer new for cas...

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03-10-2014 07:36 PM

Question

I'm 70 1/2, how much must I pull out of my IRA?

I am turning 70 and 1/2 next week. What percentage must I withdraw from my IRA this year?

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02-05-2014 02:33 PM

Question

What factors should I consider when converting to a Roth IRA?

I'm planning to transfer the funds within a legacy 401K plan (my former employer) to an IRA account at USAA. Then, I'm considering transferr...

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02-04-2014 06:29 PM

Question

What should I be concerned about when taking a TSP loan?

I plan to take a $17,000 loan from my TSP account @ 2.5% over 60 months. the repayment will be $139 per pay @ 26 per year. This loan will be...

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01-28-2014 10:59 AM

Question

Can I use my IRA to pay off debt?

How much is the penalty for using IRA funds? Can I use them to pay off a loan?

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01-16-2014 10:11 AM

Question

Confused about IRA distributions!

I am confused about IRA Distributions. I closed out a rollover IRA to meet RMD requirements for 2013. When completing Form 8606, line 15 sho...

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01-09-2014 06:36 AM

Question

How much can we save for retirement for my stay-at-home spouse?

How much can I put into my wife's 401K? I am a Federal civilian employee, she is a stay-at-home mom, we file taxes jointly. We put the maxim...

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01-05-2014 06:57 AM

Question

What am I allowed to do with proceeds of a house sale?

I just sold my home and am planning to build a smaller home next year. I put the equity into my savings account which earns very little. I h...

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11-30-2013 10:55 PM

Question

How do I handle my IRA RMD?

I turn 70 1/2 this year so am required to do annual RMD from IRA accounts. When I do that can I request or have USAA take out taxes so that ...

1

11-06-2013 09:19 AM