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Unsecured Personal Loan Risks, Medicare Buyer's Remorse, Saver's Tax Credit

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


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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.