Financial Advice

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Q&A Financial Advice

May I use my USAA 529 account to pay for private high school?
My wife is getting ready to retire next year. She has the option of getting her pension monthly or taking a lump sum (approx 250k). Are there advantages/disadvantages to taking the lump sum
Should I roll over my old employers 401k into my new employers 401k or transfer it into a roth ira?
I retired at 56 and have an AF pension and a federal pension. I plan on taking SS at 62, I also have substantial savings in both TSP and mutual funds. The question is should I draw down my TSP first and if I do not need the $ Reinvest in my mutual funds or draw the mutual funds first? I don’t want t...
Currently my wife and I both put 15% into a 401K with about 30 more years to retirement at 67. We have no major debt except a mortgage. Should we put more into our 401Ks, should we pay down our mortgage or should we start a 529 for our 2 kids college (oldest is 2.5 years)?
We live paycheck to paycheck. We do not have any debt but we can not save any money. We are a family of 4. Should three hundred a week be enough for food and misc? (not including any bills) I keep track of every penny but the money just goes. I feel like we should be able to save but I cant figure i...
Can my wife open an account on USAA.com and open her own Roth IRA rolling her TSP into it? She was a DOD civilian but is no longer working for the gov. She is not employed currently either but from what I understand, I can contribute to hers as long as we are filled jointly and make less than a cert...
Is it the right time to buy a house? I used to live in an apartment, and I realized I wasn't ever going to save any money to buy a house. I decided to move in with/rent a room from a friend so I could save money. He is doing some renovation on the house, so we all have to move out. I have $30,000 si...
What are the penalties for cashing out a Roth IRA early (I am 54 years old). My wife and I want to pay down a large personal loan.
Hello, I would like to invest $50,000 for about 1 to 3 years. I don't plan on withdrawing the money during that time, but it should be available if there is a need. Do you have any suggestions? Thank you!
If I apply for an auto loan, do I have to take it right there or can I wait and look around?
Should I use my mutual fund to pay off my mortgage?
I am retiring from active duty and want to know if I need to purchase the SBP annuity or if I should take that same amount, purchase a term life policy and invest the difference for the next 30 years. The SBP annuity will cost over $400 per month. I will be 54 yrs old upon retirement. Could I get a ...
Hello. We recently had solar installed and of course we are making a payment on it. I have been hounded about refinancing our home, offering amazing amounts of money. Should I refi and use only enough of the "equity money" to pay off the solar, effectively rolling that cost into the house(I Think)? ...
Hello, I'd like financial advice on managing my retirement funds. When I retire, I will be receiving a pension equivalent to what I earn today (100 percent). What I would like to do is cash out 33.33 percent of my retirement as a lump sum payment and use these funds to pay off my mortgage. With the ...
Social Security question. My wife is 62 and could begin drawing $600/month now vice her full benefit of $800 at full retirement age. I'm 58 and ~10 years away from retirement. My benefit will be around $3600 meaning her spousal benefit would normally be $1800. If she takes her benefit now, what is t...
I have a special need daughter who will require a SNT after My wife or I dieand was unsure how you handle these cases
Disabled Vet Gal”,In the interest of getting you the assistance you need, to include career and financial counseling, I would strongly recommend you find a good counselor in those areas at your local VA, in addition to receiving your health care there.The best piece of advice I can give you at this ...
We are in the process of purchasing a home using a VA loan. While we have the ability to put $0 down with the loan, we have the capacity to make a down payment. Due to our move cycle, we know there is a high likelihood of selling the house in 3 years. Are there good resources to help determine the m...
I am 53 and I have $46k in an employee 401k with a 3% match (I contribute another 3%), and about $30k in a Roth IRA that I haven't contributed to in 15 years (money went to kid's college fund). Should I..... - increase my 401K contributions to 6%, which would reduce my end of year tax burden and inc...
My husband and I need to clean up our credit reports. There are things on there that have been paid off for about two years that are still negatively affecting our credit scores. Does USAA assist with cleaning up credit reports if not any advice on what we should do? Thank you,
I only have $78,000. in IRA. Home equity ranges from $120-130,000. in order to replace unsafe 2003 Toyota Sienna, I am considering taking $2-3,000. from IRA. What are choices and consequences? Thank you, Nancy Ingle
I have a retirement from a previous job just sitting and not growing. I don't want to roll over to my new job because I don't plan on staying with my new job. However, I need to be able to have access to the $ as I am not totally financially stable right now. What is my best bet to do with this $ to...
I love my car but its mileage is starting to get up there. What is the best way to start saving for a new car? Should I start putting aside more money than usual from my paycheck in my savings?
When making extra mortgage payments and given the option to pay towards principal or Interest, which is better?
Is it better to pay off credit card debt with a debt consolidation loan or gradually over two years?
I'm getting married later this year, and I was curious how much money should we be spending on the honeymoon. I have some money in savings accounts that I am expecting to use but the real question is how much of that should I use? We're planning to get an apartment once we get married so I don't hav...
Hi you all,I am considering in taking this course offered by AARP called a "Driver Safety Course" for $19.95. This is a 8 hour on line course for drivers over 50. It proposes that I can save money on my car insurance. I have been with USAA for more than 30 years. Does anyone know if by taking and co...
I have an old work 401k with about 21k in it. The last two years it has yielded between 12-16% in return. I have been open to the idea of rolling it into a Roth IRA for the tax benefits, but am not sure if I should because of the high return it is getting. When, if ever, is a good time to roll it in...
Does USAA offer long term care insurance? I’d like information about it if you do.
I want to buy a home,how do I start the process?
Recently I cancelled my auto insurance because my driving had deteriorated to the point I was an accident about to happen. I have Parkinson's disease and at 86 years of age had enough. But live with my wife in CCRC in northern Virginia. Also have Renters and Umbrella policies with USAA, and Life ins...
I have credit card debt and a loan. All added up probably about $12-15,000. I have the money to pay it off. I also want to buy a house soon. Should I pay off the debt now, before getting pre approved? thank you
Would it be better for me to put my Emergency Fund into a Savings or a Checking account? I already have a Savings and Checking but I would like a third account so that I don't touch the money except for bills and it will hopefully be a short-term budget.
How do I raise my credit score to purchase Va home loan
I have a 529 for my kid, however due to autism and developmental disability I am curious if I do not use these expenses for college, can I roll this to a different type of fund for him? (living expenses, etc)
How do I get a copy of my credit report?
What kind of loan will help me consolidate all of my debt?
Can I get a VA loan on a mobile home or prefabricated house?
I am 64 yo and have a TSP account. I continue to work for a Texas state agency under a different retirement plan. I want to begin taking withdrawals on my TSP account as soon as there would be most advantagous for me tax-wise. In other words what is the best way to receive money for living expenses ...
Can I open a Roth IRA for my child?
Is it better to leave a balance on a credit card (below 30% of the credit card limit) or have it paid off every month?
does USAA handle living trusts or special needs trusts?
I have a roth IRA and a TSP account with money in both. With the government shutdown, would it be worth taking out a loan on either of these accounts to stay current on bills? If so, which would be better?
How do I buy stock or invest in usaa?
I've unfortunately have gotten into a large credit card debt situation. I am not behind but I want to find a way to be able to pay them off and if possible save on my monthly payments that I am paying to each of them separately.
In May of this year I graduate and Commission as a 2nd Lieutenant. Having college debt and multiple loans, as well needing a more reliable vehicle after graduation, I wanted to know if it would be a smarter move to do one of the following: take out the USAA starter loan for Officers, get what I need...
Questions regarding protecting IRAs in a market down turn. I know just about enough about investing to be dangerous so please excuse my ignorance. I have 2 managed IRAs. They are doing well. But I am curious to know what is the best way to protect them should the market move into a long-term down-tu...
I really cannot decide 100% on whether I should stick with current Military Retirement plan or switch to the BRS. Currently at 9.5yos, 6.5 of those were enlisted. I PLAN on staying until 20, but nothing is guaranteed. Just looking for advice or different ways to look at the pros and cons. Thanks!
Concerning the final final TCJA and 529 Educational Savings can my funds be distributed as a tax break to my grandson for Home Schooling expenses as proposed by the Administration/Senator Cruz? What are options for funds disbursement if he does not attend college?