Personal Finance - June 2007

My father is 65 and will retire this summer. He is convinced he must use the $107,000 in his 401k to pay off his 100k mortgage. He has no other retirement savings (no emergency fund) and will draw about $1800 a month in SS with $800 from my mom. Using the 401k to pay off the mortgage doesn't sound like a good idea to me but I don't know how to explain why. Can someone help?

2007-06-05 05:41:11 · 11 answers · asked by rushfz1 1

Does anyone know if you can pay off an online pay day loan with a credit card?

2007-06-05 05:12:34 · 5 answers · asked by birdiegirl 3

i knw all abt the consequences and i am aware of the image loan sharks have but i really am in trouble...if i dnt get help i will lose everything..literally,all because of 2000 pounds which i will have in a month..someone please help

2007-06-05 03:42:51 · 6 answers · asked by Anonymous

2007-06-05 02:40:26 · 9 answers · asked by Michelle L 1

Give a sound reason for your findings.

“Consequently, unless we receive payment in full by the end of the business day, August 30, 2007, we will have to take the unpleasant step of turning your account over to a professional collection agency. We would rather not be forced do this since it will result in damage to your personal credit rating.”

2007-06-05 01:41:52 · 6 answers · asked by nadir 1

2007-06-05 00:19:07 · 0 answers · asked by Anonymous

I don't own a car I just ride a cab going to my work and back to my house, it's comfortable for me. I just wonder why other people craving to have a car though they can ride a cab or something to get to the place they want. You would spend lots of gasoline rather than spending money for the transportation.


http://cars.ozfreeonline.com

2007-06-04 22:20:03 · 6 answers · asked by full house 1

I am already 24 and I want to have my own house at age 27 but there are lots of hindrances to make that dream come true.

If you are in my position what would you do?



http://cars.ozfreeonline.com

2007-06-04 22:15:37 · 6 answers · asked by full house 1

I'm 32 years old i never invested nor have a clue on how to build stock,bond or future retirement, need all the help possible with little as money possible a step in the right direction please.

2007-06-04 20:54:00 · 2 answers · asked by oscar 2

Im not sure what im talking about but can i use US ($) dollars For £ (im not sure what it is) So can i buy something with a credit card online at a UK Store? (Found some good deals on pc hardware!)

2007-06-04 20:17:11 · 4 answers · asked by Anonymous

2007-06-04 19:32:37 · 11 answers · asked by jinesh shah 1

Im getting married saturday and need proof by tomorrow, any thoughts how i can get it over the comp

2007-06-04 17:40:08 · 10 answers · asked by kclis 1

I recently opened up a checking account with JPMorgan Chase Bank in Michigan. I was just wondering what your opinion was on their customer service, and overall banking experience? Also, do you recommend them as a financial institution for the "little man". Thanks in advance...

2007-06-04 17:31:00 · 5 answers · asked by Brandon Roberts 1

2007-06-04 17:25:46 · 1 answers · asked by blahs 1

2007-06-04 15:31:45 · 11 answers · asked by mig 2

My parents are very independent and would never knowingly take money from me. I would like to help them save for future needs. How should I do this? Can you set up an account in someone's name without them knowing?

2007-06-04 14:50:16 · 3 answers · asked by odessa43952 1

Example: If I make $10.00 hr how much would I make in a yr. In a 40 hr per week figure. Gross income

2007-06-04 14:32:18 · 6 answers · asked by Anonymous

Without a checking account? I have a credit card linked to my direct deposit. Also I live in Cleveland,OH.

2007-06-04 14:29:15 · 0 answers · asked by Anonymous

2007-06-04 13:28:56 · 8 answers · asked by Anonymous

Someone told me they got out of paying a dental bill because the dentist waited over a year to send it out. They said the Better Business Bureau told them this but I cannot find out anything from anyone.

2007-06-04 13:05:23 · 6 answers · asked by kandi1102003 1

I was discussing this the other day and realized a million dollars does not have the "buying power" it use to.
Sure everyone could use an extra million. It's a lot of money.
But I don't think someone could retire with it.
Assume that someone just won the lottery. Feels great until the I.R.S. takes a big ol' chuck for themselves and possibly the state as well. I assume 250K to be a conservative estimate.
Then that person would want to buy a nice house or pay off the one they have. For a nice house in my area, you pay about 250K-500K.
So go low end and half your money is gone.
Then you want to pay off your bills, maybe give some to your children or pay off some of their bills. Not to mention just have some fun and maybe splurge on an expensive car. It could most likely be done for $250,000.
So you have 250K to invest. Not a bad nest egg. It make a great retirement.
But would you want to retire at say 40 with just that much money?
What would you do? Invest into a business, ect.

2007-06-04 12:37:07 · 19 answers · asked by Kari 4

2007-06-04 12:36:57 · 13 answers · asked by MIC 1 1

where does this document need to go, bank accts , hmo etc. need some direction

2007-06-04 12:22:47 · 3 answers · asked by runwaywear 1

2007-06-04 12:17:39 · 4 answers · asked by Anonymous

I received a check around Christmas 2006 and found it in my dresser. Can i still cash it?

2007-06-04 11:59:59 · 4 answers · asked by Jeff L 1

I bought a movie off Itunes and figured it was already in my account balance, and took out money. Now the bank sent me a letter about it. How much will they penalize me for?

2007-06-04 11:50:10 · 4 answers · asked by Anonymous

I took out a loan for $1,500 to buy my mom a computer about 5 years ago. She promised to make the monthly payments, which she did for awhile before quitting and not telling me. The company sued me and I ended up signing an agreement in December 2006 to pay back the loan at the sum of $7,339.07, with interest at the contractual rate of 12% per annum from October 11, 2005 until paid, attorney fees in the amount of $734.00, and court costs in the amount of $241.00. According to the last document I received in December my balance was $8,528. 46. I started making payments in February of $400 a month which I was told has only gone to interest and not the principal as of now ($8,158.67). I was also told that I was being charged a rolling interest and thus could not be told my correct beginning balance. And that I would have to pay $650 a month to have anything go towards the principal. Is this accurate and how much will I need to pay a month in order to have this debt paid off in 2 years?

2007-06-04 11:45:48 · 3 answers · asked by Jaime F 1

I'm trying so hard to cut down on eatting out to $45 a month for me, my husband, and son. Do you have any tips? We all pack our lunches. Somestimes we're so tired to cook dinner we eat out.

2007-06-04 11:39:38 · 14 answers · asked by Anonymous

2007-06-04 11:37:56 · 7 answers · asked by Mr. Paradise 1

Does anyone have one or know where I could find one at.

2007-06-04 11:31:56 · 2 answers · asked by Anonymous