Wisdom from Dave Ramsey

I like the advice that Dave Ramsey gives. As one who knows what it is like to live under a great amount of debt. Take Dave's advice and get out of debt and stay out.

in reference to: http://www.foxbusiness.com/personal-finance/2011/04/26/dont-debt/ (view on Google Sidewiki)

Good News from Fed?

Is keeping the short-term interest rates low good news? Some investors seemed to thing so as the DOW rose for the second straight day.

in reference to: Home - FoxBusiness.com (view on Google Sidewiki)

He Just Don't Get It

It seems that Obama just don't get it, we need to delve into the oil here in America and off our shores. Why can't he understand that if we would use the oil here in USA, we would not be held hostage to OPEC nations. Maybe, he dosen't care, maybe not allowing us to tap into our own resources is a way to push the green agenda.

in reference to: Obama: No 'silver bullet' on gas prices - UPI.com (view on Google Sidewiki)

Buying a Second Home with IRA Funds

IRA holders who have yet to reach retirement age may have questions about how they can use their pre-retirement IRA funds. Are you allowed to buy a second mortgage with IRA money pre-retirement age could be a question some might ask? The answer to this question is yes they may, however, not without paying a penalty. Any real estate purchased with IRA funds excluding a special first time home buyer distribution cannot be purchard with funds from an IRA account without incurring a penalty.

First Time Home Provision

The first-time home provision allows the holder of an IRA to take a penalty-free distribution to go towards the purchase of a first-time home for themselves or other family members. The distribution is limited to no more than $10,000 during the lifetime of each spouse and is exempt from the IRA pre-59.5 distribution penalty. This distribution can go towards the purchase of an existing home or towards a new home construction. The distribution must be applied towards new home purchase or new home construction within 120 days of the distribution. The IRS classifies first-time home buyers as those who have not held interest in a principle residence for two years prior to the buying a new home. A principle residence, in addition to a house, includes mobile homes, houseboats or owning holdings in a cooperative housing entity.

Additional Restrictions

In addition to not being able to personally own any property purchased with you IRA funds without incurring a penalty, there are other restrictions that apply. These restrictions include limitations on who an IRA account holder may purchase real estate from with their IRA account. These limitations state that an IRA holder may not purchase real estate that is owed by anyone within their immediate family without paying a penalty. However, IRA account holders may purchase property from siblings penalty-free, since the restrictions only apply to lineal descent as long as the property will not be used for a second home.

Other Options

While the answer to the question, are you allowed to buy a second home with IRA money pre-retirement age is that you can, but not without paying a penalty. You may still make other real estate investments with IRA funds without paying a penalty. In order to invest in real estate from an IRA, you need to find an IRA custodian that deals in real estate investments. The custodian will purchase real estate for you with your IRA funds. The fees and services differ among different custodians; so you should research the different custodians online to find one that meets your investment needs. Additionally, if you are purchasing real estate with your IRA account, you will need to make sure that you have liquid funds available in your IRA account. The liquid funds in your account are for expenses resulting from the real estate holdings in your account. Likewise, any revenue generated from your real estate holdings will go back into your IRA account. Should there ever not be enough liquid funds available in your account to cover expenses from your real estate holdings, the property will have to be sold and you will be subject to taxes and early withdrawal penalties.

Invsestopedia: http://www.investopedia.com/ask/answers/06/buildhome.asp

The Entrust Group: http://www.theentrustgroup.com/elc/knowledge/article/14/62/

Buy Vacation Condos: http://www.buyvacationcondos.com/Real-Estate-IRA

New Investing Opportunity

Just ran into a new investing service that will pay you $25 dollars for investing with them. It is Betterment and they take your money and invest it for you in ETFs and bonds at one low fee. I feel it is well looking into, go to Betterment.com.

Employment Opportunities

Looking for a job, why not try Cracker Barrel Old Country Store. It is not a walk in the park and you may not get rich, but what the heck, its a job. Let me rephrase that, it is a career.

in reference to: Cracker Barrel Jobs, Employment in Goodlettsville, TN 37070 | Indeed.com (view on Google Sidewiki)

Arbys

Arbys is offering a little comfort food for customers on Friday the 15th, a day scarier than Friday the 13th "Tax Day" Yikes!

in reference to: Free curly fries at Arby’s April 15 | Atlanta Business Chronicle (view on Google Sidewiki)

Investing

While dividend investing may not be as exciting as buying and selling, capturing those big gains, at times it can be safer. But as with any investment, there are risks involved.

in reference to: Dividend Investing - Associated Content from Yahoo! - associatedcontent.com (view on Google Sidewiki)