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Financial Process, 7 Retirement Misconceptions, Top 401(k) Plans of 2011

Each day, One Day Closer provides the articles from across the worldwide web that help you move one day closer to a sound financial situation, a retirement you always envisioned, a safe and secure financial future for you and your family. This will be added to throughout the day with important articles.

Quote of the Day:
Cheers to a new year and another chance for us to get it right.  - Oprah Winfrey 

Articles of the Day:
The best answer to any financial question is "I don't know." The process far outweighs products when trying to forecast where you will be 10 or 20 years from now. http://nyti.ms/vddRlv

This article details seven misconceptions about retired life...many in one form or another dealing with money. http://on-msn.com/vD1aeu  

Looking back, these (according to Brightscope) were the top 30 401(k) plans of 2011. http://bit.ly/to6jiT

Here is one year-end Roth conversion strategy: fill up the bracket! http://bit.ly/uojWoR

An interesting look at the pay structure for Steve Jobs biographer Walter Issacson. I wonder who is handling his retirement portfolio. http://onforb.es/uNM3pI


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Thursday's Slott Report Mailbag

Consumers: Send in Your Questions to [email protected]

Can I transfer money from my IRA to my husband's Roth IRA? I am 35, and he is 36.

Thank you!

Gail Clements

No. The only way your IRA funds can be transferred to your husband’s IRA is in a divorce or after your death. Even then, it would have to be transferred to a similar IRA, for example an IRA to IRA or a Roth IRA to another Roth IRA. In this case, you cannot transfer your IRA into your husband’s Roth IRA.