Comments on: Got Financial Questions? Ask the M-Network

By: karen

karen — Tue, 26 May 2009 12:48:35 +0000

hi, I am 68 yrs. old. My son just paid me back the money that he owed me, and I need to put this money somewhere. I don`t want to tie it up in a portfolio. Is there something that I can do to make a little money , and still have access to it without going through paperwork to get it? I had thought about buying a condo with a couple people, and renting it out, but maybe there is something that I have not thought of, that some financial wizard can come up with. I need to make some decisions soon. I don`t mind investing it if can have ready access to it. Hope to get as many ideas and advice as possible. Thank you all in advance.

By: Cortney

Cortney — Mon, 06 Apr 2009 01:48:44 +0000

I cannot afford my student loans due to my job is doing away with full-time work and only offering part-time work. I pay $200.00 a month, but with my new position I can only afford $100.oo a month. I have tried to renegotiate the terms of my student loans however they will not work with me at all. How will my credit be affected?

By: CRaig

CRaig — Thu, 02 Apr 2009 23:25:57 +0000

I was laid off Nov’08. Have a severance package but the cash is bleeding away. Health insurances expires end of April. I am collecting unemployment but net burn is ~$4.5K @ month. I am single with a mortgage & a host of bills. My question is that I’ve been advised to hold onto my cash & cut back paying on bills not knowing when next job will appear. I am upside-down on a boat with value being ~$180K & a note of ~$215K. Payments are $1.3K a month. I stopped making payments & advised the bank that I can’t afford loan payment. I am still paying boat insurance & advertising to sell. I realize this will impact my credit rating/score & boat will be repossessed in ~4-5 months after due process. I have rented a room to bring in some extra money but am burning ~$4.5K cash a month from reserves.
Is the boat decision a wise financial one so as to not burn thru remaining cash as fast? I realize there are more variables.
Texas

By: Patrick

Patrick — Thu, 12 Mar 2009 02:50:51 +0000

Ron: No, according to the US Treasury, you cannot roll your 401(k) directly into an HSA:

Can I roll over an IRA, 401(k) or other retirement plan into an HSA? You cannot directly roll funds in a 401(k) or other retirement plan into an HSA. You can withdraw funds from one of these accounts, pay applicable taxes (and penalties) on the amount you withdraw, and then use the remaining funds to make a contribution to your HSA. However, the amount you contribute to your HSA is still limited by the annual contribution limits. For 2007 and forward, you may make a one-time transfer for IRA funds to an HSA. The amount of the IRA transfer reduces your HSA contribution for the year. If you fail to remain an eligible individual for 12 months after the month of the transfer, the amount of the transfer is included in income and subject to a 10 percent additional tax.

I would recommend leaving your money in your 401k account to avoid early withdrawal penalties and locking in your current losses. You might consider choosing a less volatile asset allocation mix or invest your current assets in cash within your 401k to avoid taxes and early withdrawal penalties.

By: Ron

Ron — Wed, 25 Feb 2009 13:09:12 +0000

I’m closing out my traditional 401k (had enough) Can i put this money into my company’s hsa?

By: Patrick

Patrick — Thu, 08 Jan 2009 17:01:12 +0000

Hello Sheryl, I use and recommend Lunar Pages Web Host. Their packages start at $4.95 per month, and the service is great. It also comes with a free domain, free software and one click installation such as WordPress and other hosting platforms, forums support, and other software for creating and designing websites. At this price, you can't beat it.

By: Sheryl

Sheryl — Thu, 08 Jan 2009 16:16:14 +0000

I am starting my own blog and have been gathering information. I have been following Frugal Living,Frugal Dad,Blissfully Domestic,ect since Nov.

My question is: WHAT SERVER WOULD BE THE BEST AND MOST FRUGAL FOR A BEGINNER BLOGGER PLEASE.

Thanks bunches,

Sheryl

By: Wenningstedt auf Sylt

Wenningstedt auf Sylt — Thu, 08 Jan 2009 06:59:56 +0000

Good thing you started this personal finance question and answer forum. Might use this someday considering that most of the problems today is money. Any practical advise is very helpful.