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:
Year's end is neither an end nor a beginning but a going on, with all the wisdom that experience can instill in us. -Hal Borland
Articles of the Day:
According to SmartMoney, here are 10 things Medicare doesn't tell you. http://sm.wsj.com/umUe0t
This survey reveals how many 401(k) plan sponsors rank the top 8 topics. http://bit.ly/sQeAx9
Banks are making it easier to get an unsecured personal loan, but that doesn't mean it isn't without major risks. http://sm.wsj.com/soAnup
The open enrollment period is over, but according to The Wall Street Journal's Kelly Greene, there are still some options for those who have Medicare Buyer's Remorse. http://on.wsj.com/rx4p77
Mint reveals five money lies that make us overspend. http://bit.ly/tpsHjS
Here is a list of 12 retirement resolutions you should make for 2012, according to Yahoo! Personal Finance and U.S. News and World Report. http://yhoo.it/vVKpQL
Generation X and Y are getting a good start and learning from their elders' mistakes, saving more than boomers, according to this survey. http://reut.rs/vcK2fo
Boomers are wearing a bulls-eye and are susceptible to investment fraud, according to this article by The Wall Street Journal's Kelly Greene. http://on.wsj.com/tCj5fQ
You may be eligible for the saver's tax credit. Low-income and moderate-income workers can use this tax credit to help save for retirement. http://1.usa.gov/sHJGIv
Stating the facts, you must start taking distributions from your IRA once you reach age 70.5. http://bit.ly/uK2Dxe
How to make your nest eggs last longer with this advice from Ed Slott Master Elite IRA Advisor Dean Barber (article from The Wall Street Journal). http://on.wsj.com/ssQycj
Smart money/Coming Soon
Mailbag
Thursday's Slott Report Mailbag
Consumers: Send in Your Questions to [email protected]
Q:
Can I transfer money from my IRA to my husband's Roth IRA? I am 35, and he is 36.
Thank you!
Gail Clements
A:
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.
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