Q: Can I tap into a retirement account to help with my down payment?
A: Ideally, the money you use for a down payment should be savings you’ve specifically set aside for a home. but if a lender demands more up-front cash than you expected, an Individual Retirement Account or 401(k) may be the only place you can turn for another $10,000, $20,000 or more.
If that’s the case, tap a Roth IRA or Roth 401(k) plan first.
Since contributions to Roth plans are fully taxed before they’re made, you can withdraw however …

Bomapo asked: I have to write a essay and I am clueless about this topic. I’m supposed to tell why its important to invest money for retirement and why its important to diversify invesments among different asset classes. can anyone clear things up for me?College Student Credit Card
Why is it important to invest money to grow over time for retirement?

With the number of humans on earth recently reaching seven billion, funds that take advantage of this growth explosion should offer long-term investment opportunities.
Investing in demographics: Put your money into humankind

With all the focus on the monetary aspects of retirement planning, it’s easy to lose sight of the big picture: your happiness during retirement. Learn some of the big issues of retirement that have little to do with money and add your own suggestions for the community.
An Ideal Retirement

Make Money in 2012

DEAR BRUCE: can you tell me a safe place to put money that is in a CD? I am a senior citizen who has about $4,650 in a CD. in 2005 it was earning 5 percent interest. now it is earning 0.5 percent or less. It will be coming due next month. Thanks. Paul, via email
DEAR PAUL: Unfortunately, you are caught between a major rock and a hard spot. you ask for a “safe” place, and if you mean guaranteed no loss, you’re going to have to settle for an …

Donna S asked: I know I can use a loan from my 401k towards the down payment. if I have some money left over from the 401k after that, can I use the rest for the closing costs?Question posted courtesy of: Chris
Can money from a 401k loan for a first time home go towards a down payment AND closing costs?

Mortgage rates have fallen quite a bit this year and 30-year fixed mortgages are averaging close to 4 percent right now. These rates are significantly lower than just a few years ago, so those of you who bought a home in the past are probably hearing a lot of talk about refinancing right now. Refinancing can certainly make sense because a lower interest rate means lower monthly payments, and ultimately a lower total cost of the loan. but is the decision to refinance really that simple?
Unfortunately, there’s more to a …

NBR | Extended Interview: Terrance Odean | Your Mind and Your Money | PBS

cluelessblue asked: My mom said her 401K was getting smaller and smaller and she is not sure why. so she was told to cash it in. is that the right thing to do?Question posted courtesy of: Brent
What is a 401K? Once you have money in one, can you loose any of that money do to a failing the economy?