Q&A Thursday for June 28th

I had some good Q&A Questions with friends this week, so I’m going to repost them here.

Q1. How do I roll over my old 401(k) into an IRA?

A. Pick the financial institution of your choice, one that is reputable and call them. They can walk you through the rollover process with no problem. If you let your financial institution run this, there is no way you can be taxed for your rollover. You can be taxed if you withdraw the money from your old account and fail to put it in a new IRA or other retirement account within 60 days.

Q2. I need to redistribute my retirement account, how do I do that?

A. This can be very complicated if you think too hard about it. But here’s how I make it easy: if you’re a more aggressive risk take take 125 and subtract your age, this is the percentage of your portfolio that should be in stock. If you’re a lower risk taker, subtract your age from 100. I think you should never have less than this percentage in stocks. I think the rest should be in international funds, cash equivalents (like treasury securities) or some other low risk investment. Your brokerage company can help you with that, or you can use me!

Q3. I’ve been shopping at PCC more often, should I join the co-op?

A. If you know you’d take advantage of the benefits and it would cover the $60-something annual fee, then yes.

Q4. What’s your favorite smoothie recipe?

A. Lately I’ve been adding flax meal to my smoothies. I start every morning with a smoothie to accompany me when I study. It usually includes 1/2 banana, 1/2 T flax meal, 2 T rolled oats, 1/2 scoop protein powder, 1/4 c kefir, 1 c frozen fruit (usually strawberries or Trader Joe’s Cherry Berry Mix), and 1 c. vanilla unsweetened almond milk.

I’m gonna go make one right now.

Submit your questions here for next week!

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