Author - Vid Ponnapalli, MS, CFP®, MPAS®,CRPC®

1
Is your money locked up when you save for Retirement?
2
5 actions to help financial fitness in the New Year
3
Find ways to save money when you fund College education
4
What you need to know when you acquire debt?
5
Retirement money in ex-employer’s plan? Here are your 4 choices.

Is your money locked up when you save for Retirement?

We hear all the time: Saving for Retirement is an important financial goal, and it has benefits, both financial and non-financial. Yet, I know few people who are concerned that saving for Retirement is locking up funds and that these funds are not accessible for other financial goals without penalties. This, in fact, is a myth.

For example, a young 27-year-old entrepreneur once asked me if she could use some of these funds towards down payment for her first home. A 40-year old mid-career professional wondered if he can use any of his Retirement money towards college costs for his …

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5 actions to help financial fitness in the New Year

2015 is almost behind us, and we are heading to 2016. New Year is a fresh way to start. This is truly the time to think and commit to some well thought-out New Year resolutions. Perhaps, you already considered resolutions regarding your family, your physical fitness, and your career. However, have you thought about what changes you would like to make for your financial life? If not, here is something to consider. The actions listed below should help you define your financial fitness resolutions. Read on!   

Prepare yourself to move into your “Dream Home”

Moving into the “dream home” is

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Find ways to save money when you fund College education

It is a well-known fact that funding a child’s college education costs tremendous amounts of money these days. No denial about that. I know it first-hand having funded college education for three children in the last eight years! In fact, that is the reason why we all should carefully examine any whichever method that helps us reduce these costs. So, the question is: is there a way you can save money in the process? Thanks to tax laws (and some very recent tax deals), yes you can. While the finest details are in IRS Publication 970, let me try… Read More

What you need to know when you acquire debt?

You may have a great credit score, and perhaps many lenders are eager to offer you debt. Should you jump in and acquire the debt? Not so fast. Acquiring debt puts you in an obligation to pay back in time and as per the terms of the debt. Moreover, if you fail to pay, there are consequences. Also, financial savviness 101 says, “You should never borrow more than what you can afford” and “you should get the best deal possible”. Accordingly, this blog post: to encourage you to think twice, thrice before getting into debt. Perhaps, the checklist below will …

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Retirement money in ex-employer’s plan? Here are your 4 choices.

When changing jobs from one employer to another, I heard from many a simple question: What should I do with the qualified (tax-deferred) money that is in a plan sponsored by ex-employer? What are my options? While choosing the exact option depends on individual circumstances, knowledge of the four typical options listed below will guide you through making the decision.
  1. Request a lump sum distribution of the funds from your ex-employer’s plan,
  2. Take no action and leave the funds in your ex-employer’s plan (if allowed),
  3. Transfer the funds to a new employer’s plan if your new employer offers a plan,
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