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Jewish World Review Dec. 1, 1999 /22 Kislev, 5760

Bruce Williams

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Trakdata


Long-distance
rentals a bad idea


http://www.jewishworldreview.com -- DEAR BRUCE: My company has transferred me 1,300 miles away. My problem is that I own my primary residence and I am not sure what I should do with it. Should I keep it as a rental, or sell it? My company picks up all the expenses if I sell and will also help me buy on the other end. What are your thoughts? -- H.K., via e-mail


DEAR H.K.: Seldom are single-family homes good rental properties. Trying to keep them occupied and maintained from 1,300 miles away becomes extraordinarily difficult. If I were you, I would take the generous offer from your company.


DEAR BRUCE: I have been required to start taking distributions from my IRA. Since I have no need for the money, I would like to be able to create an estate for my children. What do you suggest? -- P.K., Carmel, Calif.


DEAR P.K.: As you know, you will have to pay taxes on the distribution. Whatever the residual is, why not invest it in mutual funds that have growth as their goal, or invest directly in equities that you feel have a good future? The nice thing about this is that since you don't need the money, the ups and downs in the marketplace should have little concern for you. You could also put the funds into a Roth IRA. There is no mandatory distribution, and you can pass this money directly on to your children.


DEAR BRUCE: I would like a list of some of the lowest interests charged by credit cards. Could you help me? -- George, Topeka, Kan.


DEAR GEORGE: Bankcard Holders of America is a non-profit organization that not only assists consumers in saving money on credit, getting out of debt and resolving debt problems, but they also offer a list of low-rate and secured credit cards, and guides and brochures on credit topics. They are located at 524 Branch Drive, Salem, VA 24153, or you can call them at (540) 389-5445.



Send your questions to JWR contributor Bruce Williams by clicking here. (Questions of general interest will be answered in future columns. Owing to the volume of mail, personal replies cannot be provided.) Interested in buying or selling a house? Let Bruce Williams' "House Smart" be your guide. (Sales of the book help fund JWR).

Up

11/29/99: Mortgage strategy A-OK
11/18/99: Students can work and learn
11/16/99: Value is what will sell
11/11/99: Y2K: No big deal for real estate
11/08/99: Real life is tough luck
11/03/99: The right time to cash a savings bond
11/01/99: Slow road for savings accounts
10/29/99: What do you want from insurance?
10/27/99: You have a right to see your tax forms!
10/25/99: Why own a house at 65?
10/22/99: Online fine, but CDs?
10/20/99: Love, honor -- and separate credit
10/18/99: Find the value of your stocks
10/15/99: Property lien prevents trade
10/13/99: Clear up debt, only then tie the knot
10/11/99: If it ain't broke...
10/04/99: Should I stick with the company IRA?
10/04/99: Get a financial education!
10/01/99: Insurance: Not much one person can do
09/30/99: Lost tickets are lost cash
09/29/99: Trusting only one financial planner
09/27/99: Adult children should help out
09/24/99: Tips for first-time home buyers
09/21/99: Use the rule of 72s!
09/17/99: Legal strategy can be a pain
09/15/99: Teen drivers drive up insurance
09/13/99: Always use an attorney!
09/10/99: Whose taxes are they, anyway?
09/08/99: How do I roll over my 401(k)?
09/03/99: How can I work out my IRS payments?
09/01/99: When your company can't pay you
08/30/99: Beware of shady viatical investments
08/26/99: Landlords vary on security deposits
08/25/99: Educational IRAs must be spent on education
08/23/99: Finding out the value of old stocks
08/20/99: How to get an FHA refund
08/19/99: 100 percent financing is a scam
08/16/99: Will I have to pay a capital gains tax?
08/16/99: Thinking about PMI
08/13/99: Short-term mutual funds a-OK
08/11/99: It's your job to shop around
08/10/99: Sometimes, roots need to be uprooted
08/09/99: 'Pre-approved' doesn't mean a thing
08/06/99: Only you can determine your investments
08/04/99: Bank IRA the lowest-risk option
08/03/99: Reverse mortgages good for the elderly
08/02/99: Get the survey BEFORE you buy the house!
07/28/99: Get a lawyer -- it's worth it!
07/27/99: If it ain't broke...

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