The Help Desk

I'm 67. Can I withdraw Roth IRA earnings early?

I know that withdrawals on earnings in a Roth IRA are non-taxable once the IRA is over five years old. If I fund a Roth IRA now, do I still need to wait five years before earnings withdrawals are tax-free, since I am 67 and already at retirement age? — Dan B.

Although 59 ½ is the age after which most people can withdraw Roth IRA earnings tax-free, no matter what your MORE

Should I pay for college with a cash-out refi?

I own a house worth $400,000 and have $160,000 outstanding on my mortgage. Is it a good idea to refinance the mortgage at about 3% for a 15-year mortgage and cash out about $100,000 equity to pay for my kids' college? Because the interest rate is so low and mortgage interest is tax deductible, I thought this might be a good plan. I am 48 and my wife is 45. MORE

Do I really need to file my taxes?

I forgot to file my 2010 income tax return. I just found out when it came time to prepare my 2011 taxes. I didn't have enough income to owe anything, however. Should I file anyway? ― James H.

You're required to file only if you make more than $9,500 (if you file individually) or $19,000 (if you're married and you file jointly). If you earned less than those amounts in 2010, MORE

401(k) or 529: Which is better for college savings?

I've been looking for the right kind of investment tool for college savings. My son is eight years old, and my husband is 56. Does it make sense to consider college savings plans, such as a 529 plan, when we have old 401(k) plans we could withdraw from after we reach 59 ½? ― Nancy C.

Yes, it makes sense to consider college savings plans rather than planning to withdraw from MORE

Is my 6% income strategy too risky?

I recently put all of my retirement funds into TCW Emerging Markets Income fund (TGEIX). It is a Morningstar-rated, five-star fund with a yield around 6%. This allows my $2 million nest egg to generate enough income live comfortably without reducing my principal. The fund owns over 100 different bonds from several countries, so I feel there is some diversification built in. Am I making a mistake putting all my MORE