Annuity Immediate Quote » Money

Can a collection agency take money from an annuity checking or savings acct without your permission?

Editor — Sun, 06 Jun 2010 06:52:33 +0000

In law gets an annuity check each month and thinks this collection agency is going to get her government check. Can this happen?

can the irs take my money and home that is in my name only?

Editor — Sat, 05 Jun 2010 14:54:17 +0000

My husband ran up at least 2 hundred thousand dollars in debt with out my knowledge while trying to keep his business afloat. 100 thousand with the irs!!!! am I liable? Luckily when he started being secretive and forging my name to withdraw money from his annuity, I
I started to file my taxes married but separate. I talked him into putting our home in my name only. I want to sell it and pay off some of our equity line of credit. I had know Idea he owed all this money to family friends and the irs. he refuses to quit this business and get a job cause he says that at 53 years old he can’;t get a job and that his business will be fine. he won’t go to counseling, I am sick and cant hold this up much longer. what are my rights what can i do. I don’t want to lose everything.

Can Mass. DOR take my money?

Editor — Thu, 27 May 2010 07:11:34 +0000

My husband and I just got married last week and he has back owed child support. I am all for helping him pay off the back owed money as I was raised by my mom and my father barely paid a cent, however we are very low on funds. I have only filled out our marriage license to change my name, if I change my name on everything else (SS #, bank account, state ID) can DOR come after any money I might have saved? Or place a levy on my bank account (if his name isn’t on it)?
I am a stay at home mom and my mom sends me money every so often, and I also sell stuff online so the very little extra money we have is spent on our family needs. My husband pays weekly support towards current and back owed support and hasn’t missed a payment since he started his new job almost two years ago.
My other question if when we file our 2008 taxes (I worked for a little while before going on bed rest at the beginning of the year) should I file married filing single or file jointly? I know if we file jointly they will seize all of our refund, but can they still seize my refund if I file single? I rely on my refund to purchase clothing to fit our kids for the year as well as playing catch up on some older bills.

A question about money in an estate account?

Editor — Wed, 26 May 2010 11:52:45 +0000

All of the money aside from my Grandfathers house is in an estate account. I received an annuity that my Grandad had set up for me back in January. The money from the House and property is to be divided amongst us in the same manner as the rest of his money (bonds, stocks, bank accounts that have all been put in to one bank account). Ok so we are having trouble selling my Grandfathers property with the market the way it is and i am starting to get worried about the money that is in the estate account. It is quite a bit above 100,000 dollars and is in a Washington Mutual account.

My Uncle has told me that we cannot touch any of the money until the property sells and the money from it is in the estate account. Is this true?

It seems odd that i would be able to cash in my annuity in January but that we cannot get the estate money out of the Bank until the property sells.

My Uncle is an ultra conservative Christian who believes that the end of the World is coming soon and so he does not really care what happens to the money. He has told me this.
Thank you for your answer Tmess2. I am actually listed as an executor if my Uncle is unwilling or unable to do so. I would hate to cause family problems but the other two people in the Will (my sisters) feel the same way that i do. That is to say that our money is not safe and that he is not making an attempt to keep it safe. Would it be easier for me to take control of where this money is deposited being that i am listed as an executor? It is not greed driving my feelings on this so if it is possible to split the money into more than one account in order to make sure that it is all FDIC insured that would be the option i would choose.

final salary or money purchase scheme?

Editor — Tue, 25 May 2010 19:22:52 +0000

Assume i only work for 1 year at my company and i also retire in one year time. i contribute 4.1% (gross) into the final salary pension and my earnings are £15,000.

Is this calculation correct for a final salary?

1/60*15,000*1 year = 249.99

is 249.99 the figure i would receive each year after year 1 untill i die and rise in line with inflation?

or, do i opt for the money puchase scheme where my employer match my contritbution of 4.1%. 1 year later:

615+615=1230.

I know i need to use the 1230 from the final salary to purchase an annuity (assume 6%=73.8) which is alot less than the final salary of 249.99. thus, it is best to opt for the final salary?

Thanks
retire in one year one when 65.

If a retirement plan has no benificiary designation, is it worth the money to probate the estate?

Editor — Tue, 25 May 2010 07:21:04 +0000

I don’t know how much does it cost to probate an estate. Is retirement benifits worth to probate?

How does money get disbursed from a retirement plan once someone has died?

Editor — Mon, 24 May 2010 05:19:04 +0000

I know a death certificate is needed and I know I am a beneficiary but if there is no will, who submits all the paperwork? The closest relative? Does the plan contact me and on average how long does it take?

when i close my tax sheltered annuity account do i need to pay taxes on the withdrawn money?

Editor — Fri, 14 May 2010 06:55:00 +0000

my understanding is that a tax sheltered annuity is the same thing as a 410k or 403b is this correct?

What annuity to deposit money in?

Editor — Thu, 13 May 2010 22:22:43 +0000

I am getting ready to retire and have money in a Thrift Savings Plan that I would like to put into and annuity that will pay $500 a month. What are some options that I might look at?

What’s a good way to invest that will allow me access to my money?

Editor — Fri, 07 May 2010 09:23:11 +0000

I’m requesting a surrender of an annuity fund and would like to invest it to earn the best interest. See, it’s a college fund my great-grandparents set up for me and when they died, my grandmother took control of it. She’s never been smart with money and set it up in an annuity….which I cannot withdraw from without being heavily penalized until I’m 59! Who is paying for college at that age? I need that money now. So I’m accepting the heavy taxing, federally and by the company, just so I can get the money out of there. But I’m lost on what to do now. I don’t want to just put it into a savings account.
What is a good way to invest it that will allow me access to it. In other words, where is a place I can put it where it will earn good interest and I don’t have to wait until I’m nearly 60 to get it?

How can I receive the child support money my dad pays to go to me instead of my mom when your under 18?

Editor — Thu, 06 May 2010 07:10:35 +0000

My mom doesn’t distribute the money that is suppose to be going to us her boyfriend lefther and shes been uggh planning on moving to spain after she basically left me and my siblings to fend for ourself for two weeks as she left to dominican republic and when she came back had the idea to move sell everything and move to spain.. She spends sure some of it on the rent but its me and my sister thats $400 each, she also has a job, we dont have that much of expensive rent & on top of that, Im working and the money at minum wage :/ i cant even use the money I work for. its too stressful I have to younger siblings 13 and 15. Im sixteen going to school and thinking she could just go and we can get the checks ourselves. Help please. Any suggestion.
Oh and she just kicked me out cause she wanted to use my phone but I didnt want to cause she doesnt pay for it.
my dad is in dominican republic :/ & i go to school here it would be difficult to move to another country especially with another language
Yeah but somehow my brother receives his check to himself….she does not work anymore ever since she has came back all the expenses are not being paid,, she splurges herself with iphone and etc, doesnt let me use the car but yet ask me for gas money.. but ughh. Thank you everybodies advise really helped

leaving money to heirs?

Editor — Wed, 05 May 2010 18:52:49 +0000

I have 4 married children all with children of their own . I own my house and have some money in the bank that I want to leave my children . I have decided I dont want to leave anyone of them in charge executor because of feuds . How can I didvide my assests so they go straight to each of them . I was thinking of opening some 4 kinds of funds ,annuities and listing each as a beneficiary and then the children of each of my children second .
I want everything to pass to my grandchildren should my children pass .what is the best way to do this . I worry if I become disabled or impaired the children will sell the house or do what ever .
some of my grandchildren are minors . what is the best way to do this .I want to make sure no one gets cheated which is what I see happening .

The money for foriegn aid. What other uses could it be used for?

Editor — Wed, 05 May 2010 05:22:32 +0000

On Fox weekend report. They were discussing the foriegn aid the USA sends out to countries that are either non-friendly or announced enemies of the USA. Their report states there is $20 billion a DAY sent out .
Doing a rough estimate. Taking 365 days a year. Then for any liberal influance. Calculating that the figures were based on working days. So that changes it to
260 days. Muliplying that by $20 billion. It equals $5.2 trillion dollars a year.
Now…Using the total population of the USA according to the US Census Bureau of April 1,2000.
The poulation is 281.5 million people. We will round this up to 282 million.
That is men,women and children who were reported on the last census.
If my calculations are correct. Take the $5.2 trillion dollars (per year) and divide by 282 million comes out $18,500. per year for each “man,woman and child” in the USA.
So lets take out the age group of 0-14 years of age which by the CIA report of USA population is 31.1million male and 29.7 million female. Round that up and add comes out 61 million under the age of 15. Subtract that from 282 million is 221 million people age 15 and up to whatever.
If you figure the annual take of the figure 221 million it comes out to $23,500.per year. This is saying that if the US government would stop sending out foriegn aid ($5.2 trillion per year) and instead giving it to US citizens would give every person over 14 years old man,woman and child rich or poor an annual income of $23,500.
If my memory serves me right there was a report that the top 7% of the US population have more wealth then the lower 93% combined.
7% of 282 million comes out to,almost, 20 million people who would not need an annual income from the government.
That leaves 201 million in the 15′yo/up group. Now the figures shows each one would receive $25,870. per year.
Lets go back to the total population including all of $18,500. per year.
If each person recieved this and for the people under 15 year old had theirs put in an account for them to be received at 15. That comes out to $260,000. for each child to receive at age 15.
Now at a long term annuity. $260,000. would bring in a monthly payout of over $2,500. and never touch the principle. Or another $30,000. per year for these kids. Which now brings their annual take to $48,500. per year.
You can do the math yourself.
Realistically this would not work for anyone. For one …alot of people would quit working or never attempt to get a job.
Hence the industries would fail.No labor.No taxes or far less fewer taxes would be collected. Then the government would not be able to send out the annual income checks.
But on the other hand the govenment would still tax the,say, $23,500. the same
way as if you worked for it. And you would still be paying state and local taxes on what you purchased either goods or services. Which is where this money in the first place is coming from.
And industry would not fail because they are moving our jobs out of the country anyway.
So the USA could quite possibly be a total consumer/welfare society.
In which the wealthy could have their manufacturing plants in 3rd world countries for the cheap labor. The liberal/yuppies could still maintain their “prestigious” jobs. And the bulk of the population could live off their annual government check and have a job(somewhere),to have more,if need be.

Finance help needed-interest rate, money markets, annuities?

Editor — Tue, 04 May 2010 03:22:23 +0000

Money markets are markets for
Foreign currencies.
Consumer automobile loans.
Corporate stocks.
Long-term bonds.
Short-term debt securities such a Treasury bills.

2. Which of the following statements is CORRECT?

The most important difference between spot markets versus futures markets is the maturity of the instruments that are traded. Spot market transactions involve securities that have maturities of less than one year whereas futures markets transactions involve securities with maturities greater than one year.

Capital market transactions involve only preferred stock or common stock.

If General Electric were to issue new stock this year, it would be considered a secondary market transaction since the company already has stock outstanding.

Both Nasdaq dealers and “specialists” on the NYSE hold inventories of stocks.

Money market transactions do not involve securities denominated in currencies other than the U.S. dollar.

3. If the stock market is semistrong-form efficient, which of the following statements would be CORRECT?

The required returns on all stocks are the same, and the required returns on stocks are higher than the required returns on bonds.

The required returns on stocks equal the required returns on bonds.

A trading strategy in which you buy stocks that have recently fallen in price is likely to provide you with a return that exceeds the return on the overall stock market.

If you have insider information about a particular stock, you cannot expect to earn an above average return on this information because it is already incorporated into the current stock price.

Even if a market is semistrong-form efficient, an investor could still earn a better return than the market return if he or she had inside information.

4.
Suppose 1-year T-bills currently yield 5.00% and the future inflation rate is expected to be constant at 3.10% per year. What is the real risk-free rate of return, r*? Disregard cross-product terms, i.e., if averaging is required, use the arithmetic average.

1.90%

2.00%

2.10%

2.20%

2.30%

5.
Suppose the real risk-free rate is 3.50%, the average future inflation rate is 2.25%, and a maturity premium of 0.10% per year to maturity applies, i.e., MRP = 0.10%(t), where t is the years to maturity. What rate of return would you expect on a 5-year Treasury security, assuming the pure expectations theory is NOT valid? Disregard cross-product terms, i.e., if averaging is required, use the arithmetic average.

5.95%

6.05%

6.15%

6.25%

6.35%

6.
Which of the following would be most likely to lead to a higher level of interest rates in the economy?

Households start saving a larger percentage of their income.

Corporations step up their expansion plans and thus increase their demand for capital.

The level of inflation begins to decline.

The economy moves from a boom to a recession.

The Federal Reserve decides to try to stimulate the economy.

7.
Assume that interest rates on 20-year Treasury and corporate bonds are as follows:

T-bond = 7.72% A = 9.64%

AAA = 8.72% BBB = 10.18%

The differences in rates among these issues were caused primarily by

Tax effects.

Default risk differences.

Maturity risk differences.

Inflation differences.

Real risk-free rate differences

Variable annuity went down. We lost SOME MONEY, will it go back up or should I take my money out?

Editor — Sat, 01 May 2010 19:28:12 +0000

I’m working with a financial planner and I just don’t get what’s going on, so I wanna know if I need to take my money out or if my money will go back up if and when the economy gets better??

thanks all help greatly appreciated!!!
If you don’t recommend getting annuities, what investments would you suggest for someone, that’s not really into risk taking.

Should I pull money out of my 401k to invest in gold now?

Editor — Fri, 30 Apr 2010 18:12:59 +0000

Right now I have no gold and 100% of my retirement/long term investment in my 401k. I understand there would be penalties in pulling all or some of the money out. i feel like i have all my eggs in one basket with the 401k. would it be smart to pull some out even with the penalty? And about what percentage

How do I take money out of an annuity?

Editor — Fri, 30 Apr 2010 04:22:39 +0000

I have an annuity that my mom made for me when I was younger…I am 18 years old now and was transferred into my name with no guardianship of the account…. Now I am wondering how to take money out to pay for my first car. I know about the penalty fees and what not

My husband will not get a job, because I make decent money?

Editor — Thu, 29 Apr 2010 19:28:08 +0000

I was a widow making a decent annuity from my deceased husband. I make enough where I do not have to work. I have a small autistic child, and I am happy to be able to be with him full time. My new husband will not get a job because I make a pretty decent amount every month. ALTHOUGH since I have met him (and have another mounth to feed) I have been BROKE. I have asked him to get a job, but he won’t. He is so wonderful with my son, I can not imagine he is with me for just my money. I have a small ranch that is more of a hobby than a money maker…I was going to sell it when my last husband died and find a smaller and more reasonable place. My new husband convinced me to stay here and I took my house off the market. So now I still have this huge house, a bunch of livestock and a husband who refuses to work. Am I being an idiot? Should I dump him and go back to my original plan? Or did I marry for richer or poorer…and I should wait it out. uuuggghhh….

Taking money out of a non qualified retirement plan?

Editor — Tue, 27 Apr 2010 03:19:23 +0000

I have a non qualified retirement plan ( this is not a 401K) through work.
Do I have to wait until I am 59 1/2 years old to take it out without paying tax or do I still have to pay tax. If I have to pay any tax, what is the amount or percentage.

How can I get my ex- husband to pay child support and stop stealing money from us?

Editor — Mon, 26 Apr 2010 23:11:05 +0000

Here it is in a nuttshell:
I got seperated in 1995, divorced in 1998. We have two daughters together, now ages 17 and 14. My ex-husband has quit jobs in order not to pay child support over the years but what he’s done recently has completely crossed the line.
To explain:
In 1998 he was court ordered to pay $30 a week for BOTH children in court.Since ten years ago, we have had 8 contempt of court hearings. All 8 of them, I dismissed to avoid him spending time in jail. In 2006, support was raised to $100 wk (for both). He does not pay.
I remarried, bought a house, had three more kids, stopped working in the past few years. When my 5 mo. old baby died of SIDS last year, my ex-husband took a collection for us (funeral expenses), sold raffle tickets and pocketed the $$. We never got a cent. It wasnt even his child.
Now, I am back over the $5000 mark in arrears. Domesticc Relations says they cant enforce it because they cant find him.
I gave them his address, they say they cant verify

money for school / bills and maybe buy a farm land?

Editor — Sun, 25 Apr 2010 18:03:27 +0000

Hello

Last year I lost my transplated kidney and need a second kidney transplant, because I get sick during dialysis I am not able to work. Spent the last 12 years in banking and at the end I was a manger, I never liked banking because of the deceptive ways we were encougraged to sell bank products specially annuities and as a manager I was reprimanded if I did not fill my branch goals ( don’t ever buy annuities from a banker) I have decided to go back to school and study hospital managment and bioethics. I was looking for information on:
1. Grants for school I hope to go to Loyola in Chicago?

2. Grants or help to pay off some credit card bills?

3. I have heard that people get grants to buy farm land don’t know if this is true but would be nice to own a small organic farm.

Thank you for your answers.

What should i do with my money? cd’s/annuities or what?

Editor — Sun, 25 Apr 2010 11:23:25 +0000

Got 20 thousand saved up and i want to put to work for me, what should i do? i want something that wont make me loose my money. I found a bank where i can get a 6 month CD at 5% is there better options for me?

Can you withdraw money from 401K plans, to invest in business properties?

Editor — Thu, 22 Apr 2010 21:10:39 +0000

By business properties, mean two family houses, to rehab and resell. Wondering what the tax implications might be, considering I’m re-investing the money.

Can I use the money in my retirement plan to payoff CC debt/student loans without penalty?

Editor — Wed, 21 Apr 2010 17:21:05 +0000

I have a substantial amount of money in my retirement plan and pension. Is there any way to use that money to payoff my current credit card debt, student loans, or car loans without being hit with the huge early withdrawal penalty?

I am looking for a life insurance. Which is better Term or VUL? I want to invest money also.?

Editor — Wed, 21 Apr 2010 13:18:17 +0000

I understand the VUL can earn money while covering your life. Is this the best or is Term better? I want tax deferring interest

What is the best order to invest money? Roth vs. 401K vs. Life Insurance?

Editor — Tue, 20 Apr 2010 06:10:04 +0000

I am a 34 year old, married, father of 4, resident physician who just got a $60K pay raise. I was making $42K during my first year of residency training, but now with moonlighting, I am making $100K. What is the best order to invest? Of course I started with the 401K because my employer matches 4% if I invest 5%. But what next? Life Insurance, Roth, Traditional IRA, etc. or should I pay down my mortgage($200K at 8%APR) or student loans($150K at 3%APR)? My wife has a small traditional IRA, but we have no other investments. Thanks for any advice.

Should I even invest any money right now into my 401k?

Editor — Mon, 19 Apr 2010 09:10:14 +0000

I just started working for a company that has a 401k plan, but should I invest any money into it, since the stock market isn’t so great right now?
I know a couple co-workers that said they lost like 40,000 in the past year in their 401k, so should I wait for a better time before contributing? Thanks

The concept of time value of money is important to financial decision making because..?

Editor — Sat, 17 Apr 2010 18:52:32 +0000

a. it emphasizes earning a return on invested capital
b. it recognizes that earning a return makes $1 worth more today than $1 received in the future
c. it can be applied to future cash flows in order to compare different streams of income
d. all the above

As the discount rate becomes higher and higher, the present value of inflows approaches…
a. 0
b. minus infinity
c. plus infinity
d. need more information

You are to receive $12,000 at the end of 5 years. The available yield on investments is 6%. Which table would you use to determine the value of that sum today?

a. Present value of an annuity of $1
b. Future value of an annuity
c. Present value of $1
c. Future value of $1

As the interest rate increases, the present value of an amount to be received at the end of a fixed period…
a. increases
b. decreases
c. remains the same
d. not enough information to tell

As the time period until receipt increase, the present value of an amount at a fixed interest rate…
a. decreases
b. remains the same
c. increases
d. not enough information to tell

Mr Blochins is creating a college investment fund for his daughter. He will put in $850 per year for the next 15 years and expects to earn an 8% annual rate of return. How much money will his daughter have when she starts college?
a. $11,250
b. $12,263
c. $24,003
d. $23,079

Mr. Nailor invests $5,000 in a certificate of deposit at his local bank. He receives annual interest of 8% for 7 years. How much interest will his investment earn during this time period?
a. $2,915
b. $3,570
c. $6,254
d. $8,570

Sharon Smith will receive $1million in 50 years. The discount rate is 14. As an alternative, she can receive $2,000 today. Which should she choose?
a. the $1 million dollars in 50 years
b. $2,000 today
c. She should be indifferent
d. need more information

Mr. Fisher wants to build a house in 10 years. He estimates that the total cost will be $170,000. If he can put aside $10,000 at the end of each year, what rate of return must be earn in order to have the amount needed?
a. between 11% and 12%
b. between 8% adn 9%
c. 17%
d. none of the above

The shorter the length of time between a present value and its corresponding future value…
a. the lower the present value, relative to the future value.
b.the higher the present value, relative to the future value.
c.the higher the interest rate used in the present-valuation.
c. none of the above

A dollar today is worth more than a dollar to be received in the future because…
a. the dollar can be invested today and earn interest
b. of the risk of nonpayment in the future
c. inflation will reduce purchasing power of a future dollar
d. none of the above

The higher the rate used in determining the future value of a $1 annuity…
a.the smaller the future value at the end of the period.
b. the greater the future value at the end of a period.
c. the greater the present value at the beginning of a period.
d. None of the above – the interest has no effect on the future value of an annuity.

Mr. Darden is selling his house for $165,000. He bought it for $55,000 nine years ago. What is the annual return on his investment? …
a. 3%
b. Between 14% and 16%
c. 13%
d. none of the above

What is another way to save/invest money that would be accesible. Like a 401K but without the penalties?

Editor — Thu, 15 Apr 2010 21:10:03 +0000

I have a 401K and I like the way it works. Except for that it is locked up and not accesible without penalties. What is another way to set up an account similar to this where I can invest by paycheck deductions or payments and have easy access to withdraw from it.

where can I invest my 401K money to get a better than 15% annual rate of return with minimal risk?

Editor — Thu, 15 Apr 2010 00:10:18 +0000

My 401K has performed well below par the last two years… My good friend has over $200K invested in a hedgefund called U.S. West, LLC, that has returned over 60% to their investors over the last 36 months. Do you know of any investment that has returned at least 60% to investors, other than U.S. West, LLC, over the last 36 months??? Thanks in advance of your reply.

Sincerely,

Victor Roman