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Financial Q&A Continued...

Keith,

Love your show, and have a question: I’ve been thinking about tapping the equity in my home or 401-k to purchase a couple of new homes in the Phoenix Metro area. I’m 54 years old. My home is worth approximately $265,000 [$210,000 equity].

Does it make sense at my age to encumber my personal residence further for investment purposes ???

Thanks in advance for your response and smooth sailing.

Mick

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Keith,

I have about $500k in investments in four different types of accounts — 401k, IRA, Roth IRA and non retirement Investments. I am looking to retire in about 7 years and am currently saving about $30k per year. My question is: Should I fund my 401k first or my Roth IRA first, or should I pay down my house mortgage to be debt free at retirement?

Regards and best wishes on you adventure.

Richard Wilharm

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Keith,

Should we pay off our mortgage? We sold stock options and the money is sitting in a bank account earning 6% for the next 5 months.

Should we use it to pay off the $270,000 we owe on our mortgage (at 7.5% interest)? Would you suggest some other, more beneficial use of this money? My husband is 55 and I am 50. We have no other debts and we have maxed out our 401k.

Thanks,

Debra

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Keith,

Our daughter will start her teaching career next fall. I am encouraging her to consider living at home for 3-4 years to save most of her salary. That way she might be able to purchase a home. If she were to do this what strategy would you recommend for saving/investing an annual amount of about $25K.

Enjoy the fresh fish dinner. Smooth sailing,

Matt
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Do Annuities Belong In IRAs?

My advisor is recommending that I “lock in some profits” within my IRA by putting my gains inside a fixed-rate annuity paying six percent. The annuity would stay inside the IRA. Is this a good idea? He also said I could get out of the annuity at any time without penalty.

— Ethel – Dover, Maine
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Keith,

Thanks for the insight in Wells. I received an offer from Madison Liquidity Investors at $8.00 a share, is that a good deal? Wells told me they don’t buy these back, that their redemption is suspended. Should I take Madison’s offer? They are based out of Kansas City. Love your show!

Tom

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Keith,

Love your site and radio show. But you were really hard on Wells Real Estate Investment Trust on your show. I was persuaded to buy into that REIT by my advisor. Is it really that bad a deal?

Happy sailing. Look forward to following your adventure!

Bill, Tampa Florida

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Keith,

My broker says I’m a preferred client and he can get me into the upcoming Blackstone IPO. Should I invest?

Hugh, Phoenix, AZ

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Keith,

A friend is encouraging me to prepare a “Constitutional Trust.” They say I can have the trust own my assets, including my paychecks, and that I can avoid income taxes this way. They also say it makes my assets safe from lawsuits, and that all I have to do is instruct the trustee and they will do whatever I say with the trust assets. Is this true?

Alara, Topeka Kansas

P.S. Do you get seasick?

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Great year-end and beginning of-the-year advice; plus Global Adventure updates

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