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MONEY Q & A

Meg Green
Meg Green is a certified financial planner. E-mail questions to askmeg@meggreen.com or mail them to her at: P.O. Box 630322, Miami, FL 33163. Include your first name and city.

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  • ASK MEG GREEN

    Ask financial planner Meg Green

    MEG GREEN Q: I will be 55 soon and eligible for early retirement for two pensions. I am currently employed and need only 1 ½ more years to be vested for yet another pension. If I wait till age 62 on all three pensions, the total is only around $2,400 per month. If I take the early retirements, they reduce my max benefits by around 5 percent for every year before 62. Although I could use the money with two kids in college and cost of living rising every day, I'm not sure what the right...

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  • ASK MEG GREEN

    Ask financial planner Meg Green

    MEG GREEN Q: I have about $6,000 that I would like to use for investing and saving for the future. I am very green to this area of finance and don't trust going to someone whom I don't know to handle my hard-earned money. Your advice seems pretty sound. How should I handle this money?

  • ASK MEG GREEN

    Ask financial planner Meg Green

    MEG GREEN Q: Does the monetary gift-giving tax deduction apply only to those funds given to charitable organizations? I heard on the news that money given to friends and family can be claimed when filing our taxes, but I would like to know for sure.

  • ASK MEG GREEN

    Ask financial planner Meg Green

    MEG GREEN Q: Do you think it would be wise to sell my six IRA funds for a one-time payment to lower my present line of credit balance? I have an equity line with a flexible APY of 5.25 percent.

  • ASK MEG GREEN

    Ask financial planner Meg Green

    MEG GREEN Q: I am retired, and my husband retires in three years. We've paid off our home and have no credit card debt. We have $100,000. Which banks are safe? Other than a bank, what is safe and pays the most interest?

  • ASK MEG GREEN

    Ask financial planner Meg Green

    MEG GREEN Q: I'm in debt to the tune of $148,000. Part of this debt includes a home equity line of credit, American Express bill and MasterCard bill that I have in my parents' name. I make $45,000 per year. I have no savings and am close to having a nervous breakdown. The home equity line is now two months past due. I cannot borrow money from anywhere and am too embarrassed to go to my parents: My father is 94 and mother is 87. Would you recommend filing a bankruptcy in their names? Can I do this...

  • ASK MEG GREEN

    Weighing annuities vs. mutual funds

    MEG GREEN Q: In choosing between investing in an annuity versus a mutual fund, isn't it true that an annuity allows my financial advisor to pick and choose the sectors in which to allocate various percentages of my investment and change those sectors when prudent? Whereas a mutual fund is entirely managed as a ''packaged investment'' based upon the desired risk factor?

  • ASK MEG GREEN

    Find expert help for retirement cash

    MEG GREEN Q: I read your column every week and I know that you are not a fan of annuities. And after seeing last week's ''Dateline NBC'' program, I am more confused than ever. I am a teacher who will be retiring after 35 years at the end of this school year. I am 60 years old and will be completing the fifth year of the DROP program. Of course, I am being inundated by calls from financial planners and insurance company representatives who are trying to sell me different types of annuity plans.

  • ASK MEG GREEN

    At 63, just say 'no' to annuities

    MEG GREEN Q: I am 63 years old. Last year I went from full- to part-time work. My husband is 63, retired and collecting Social Security. I have a 401(k), worth about $200,000 and a personal account with Vanguard worth about the same. Our house and cars are paid off and we pay off our credit cards monthly. I plan on retiring at 66 at which point I believe we will need an income of about $50,000 a year. Does it make sense to purchase a variable annuity? If so, how much of our savings should we use...

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