I am 65, and every year I take distributions from my defined contribution plan and 403(b) account. Meanwhile, I still have long-term capital losses from the 2000 high-tech stock crash, and I deduct $3,000 a year against ordinary income. Can I take my long-term capital losses to offset any portion of the DCP and 403(b) distribution as long-term gains? – Franklin S.
The short answer is no, says Cynthia M. Jeanguenat, MORENov 16, 2012 6:30 AM ET
I have a 30-year fixed mortgage with an interest rate of 4.275% and a balance of $144,000. I need to increase my monthly income. Should I consider refinancing to an adjustable rate mortgage? –Butch E.
If you're planning to sell your house within a few years, refinancing to an adjustable rate mortgage (ARM) can offer a clever way to lower your monthly payments, says Matthew Delamater, a mortgage loan officer at MORENov 15, 2012 6:30 AM ET
My father signed a five-year commercial lease in New Jersey for a business that is not running well. There are two years left on the lease, and he owes close to $40,000 on various business credit cards. If my father declares bankruptcy for the business, can the landlord and credit card agencies come after my mother, who holds a steady job and has a regular income? — K.S.
As long as MORENov 14, 2012 6:30 AM ET
My husband and I are 44. We moved to this country and started to save aggressively for retirement six years ago. Each year my husband puts about $10,000 in his Oregon state government employment-based retirement fund. I put $5,000 in my Roth IRA and about $10,000 in my SEP IRA. How should I invest my retirement funds? Right now I have all of my savings in Fidelity's Freedom Funds 2040. MORENov 13, 2012 6:30 AM ET
Can you recommend a book about smart financial behavior for post-college kids in their 20s? —Susan R.
Check out Beth Kobliner's Get a Financial Life: Personal Finance in Your Twenties and Thirties, says Annamaria Lusardi, director of the Global Center for Financial Literacy at the George Washington University School of Business.
In 2010, Kobliner — a journalist and personal finance commentator — was appointed to the President's Advisory Council on Financial Capability MORENov 12, 2012 6:30 AM ET
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