Questions That Clients’ Ask
June 2012
In an effort to help my client’s better understand the various ways in which I can help with finances, I thought I’d list some interesting questions and discussions I’ve had with people recently. As you can see from the questions below, there is a wide range of topics covered, some which may surprise you as they are not typical questions you may think to ask a financial advisor. I want to encourage and invite all of you to call me at anytime when you are evaluating financial decisions in your life, whether big or small.
- I need life insurance, but think I have sleep apnea and have schedule some medical tests. Will this impact my ability to qualify for insurance?
- I have a Variable Universal Life insurance policy where the cash value fluctuates with the stock market. Will it hold up if there is another large decline in the stock market?
- I’m thinking of buying a home. Should I wait or buy now because interest rates are so low?
- I need a new car and I have enough cash to pay for it in full. Should I use the cash or take out a low interest loan?
- I have multiple debts, small and large and with different interest rates. Which should I pay off first?
- I’m retired and want to redo my back yard and pay for it in cash. How much can I spend without impacting my retirement account?
- How much can I withdrawal from my investments each year when I retire and feel reasonably confident that I won’t outlive my money?
- I’m not 59.5 years of age. What are the tax implications for taking money out from my IRA, 401K or 403B account?
- What if I wait until after I turn 59.5? I’d like to convert some of my traditional IRA to a Roth IRA. How can I offset some of the tax liability that I’ll incur from the conversion?
- How should we prioritize between saving to buy a home, our retirement, our child’s education and paying down our student loans and credit card debt?
- What are the benefits of having a trust over a will?
- What are the potential problems of naming our trust as the primary beneficiary instead of our spouse/person on our IRA accounts?
- We have a child with special needs. How can we ensure that he/she is taken care of after we pass away?
- Should I begin taking Social Security now or wait a few more years to receive a larger monthly amount?
Please call me with your questions.