Personal Finance FAQ's

​​This page was created to give you answers to common personal finance questions we receive. Contact us if we can  help clarify anything!

retirement / investment

1. What are the differences between a 401k, Traditional IRA, and Roth IRA?
2. ​​​What is the “Backdoor” strategy for contributing to a Roth IRA?
3. I’m self-employed...what retirement plan options do I have?​
4. What should I do with my 401k account now that I've left my job?
5. What are Required Minimum Distributions (RMD's) and how are they calculated?
6. What is a 529 Plan?​
7. Should I first save for my kids' college, or my own retirement?
8. When can I begin receiving Social Security retirement income?
9. What happens if I work while receiving Social Security?

insurance / estate planning

1. Do I need insurance if I live in a condo community with an HOA?
2. Should I get a term life insurance policy, or a cash value whole life policy?
3. ​Do I need a living trust?
4. Is pet insurance a waste of money?
5. ​Is mortgage life insurance a good idea?

credit scoring

1. What are the main factors involved in credit scoring?
2. ​How can I recover from a poor credit history?
3. How do I get late payments removed from my credit?

miscellaneous

1. How do I budget irregular income?
2. ​How do I budget irregular & unplanned expenses?

View our other FAQ Pages:

• Tax FAQ's
• Home Loan FAQ's

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