Get Your Financial Questions Answered by the Authors of "On My Own Two Feet" Plus a Giveaway

Earlier this week I reviewed the book On My Own Two Feet: A Modern Girl’s Guide to Personal Finance and the authors of the book want to open the floor for questions. Both Manisha Thakor and Sharon Kedar are Harvard Business School MBAs and Chartered Financial Analyst (CFA) charterholders. This is a fantastic opportunity to have your questions answered by some of the best in the business. As an added bonus I will be giving away copies of the book so keep reading for more information.

How to Ask a Question

If you have a question you would like to see answered you can ask it in two ways. First, simply post a comment in this post. The second way to ask a question would be to send me an email via the contact form. Since I will be selecting winners from the comments and emails I ask that if you do make a comment you do so with a valid email address. If you would like your question to be answered anonymously you can use the contact form.

What Can I Ask?

Feel free to ask anything you want, but keep in mind the authors and the book focus on personal finance. Also, depending on the number of questions received your question may or may not be answered, but the more relevant the question the better the chances it will be answered.

When is the Deadline?

I will continue to accept questions through the weekend and up until 9am on Monday, June 11th. After that I will compile the list of questions both in the comments and via email and forward them to the authors. The answers will then be posted on the site sometime later in the week.

How Does the Giveaway Work?

I have three (3) copies of the book that I will be giving away at the conclusion of the Q&A. To enter all you need to do is submit a question that you would like the authors of the book to answer. All questions, whether through a comment or via email will then be combined and three will be selected at random.

To be eligible to win you must provide a valid email address and live in the United States. I will pay for basic shipping to an address you provide upon notification that you have won.

Author: Jeremy Vohwinkle

My name is Jeremy Vohwinkle, and I’ve spent a number of years working in the finance industry providing financial advice to regular investors and those participating in employer-sponsored retirement plans.

12 comments
Patrick
Patrick

I have $100,000 in my 401K, and another $70,000 in stocks in a roth IRA. I also own a few rental properties. I want to buy a house ($80,000) to rent out now that prices are low, but want to use the money in either my 401k or my Roth IRA. How do I go about this, and does the rental income I receive then have to go back into my retirement account. I am 44 years old.

twoelfel33@yahoo.com
twoelfel33@yahoo.com

I have a coop with a 59k mortgage. I am going to move in with my fiancé & I can probably sell for 240k or more. Kitchen & bath have been redone and it is a fairly decent sized place in Bay Ridge Brooklyn in a great building.
I want to set aside $30k (at least) to put into my rollover 401k for the next few yrs. What is the best way to maximize my $$ and still be able to withdraw each year. I want to shoot for a minimum of $3,000 a year and hopefully make up the difference in smaller payments throughout the year to get to the maximum contribution.

twoelfel33@yahoo.com
twoelfel33@yahoo.com

I have a coop with a 59k mortgage. I am going to move in with my fiancé & I can probably sell for 240k or more. Kitchen & bath have been redone and it is a fairly decent sized place in Bay Ridge Brooklyn in a great building.
I want to set aside $30k (at least) to put into my rollover 401k for the next few yrs. What is the best way to maximize my $$ and still be able to withdraw each year. I want to shoot for a minimum of $3,000 a year and hopefully make up the difference in smaller payments throughout the year to get to the maximum contribution.

Fiona
Fiona

Does your bank have the right to transfer money from your savings account to your current account with out your premission to pay a direct debit (that you were unaware of)that is leaving your current account?

Jeremy
Jeremy

Thanks for the questions everyone. They have been forwarded on and I should post the answers later this week.

Brenna
Brenna

What are some ways to better prepare financially for having a child when there's only one income, school loans and some consumer debt?

MSMomsmoney
MSMomsmoney

I am a single parent of three teenagers.

My oldest is 17, and has type 1 diabetes and kidney disease.

What is the best way for me to help her get her own health insurance when necessary (I plan to keep her on mine as long as possible).

Also what are some basics that all three of my kids should have--knowledge wise--before they leave the nest?

My two daughters work, and have an ING account set up.

Oldest daughter will be attending community college to start, other daughter wants to go to a Univeristy.

Son is only 13...

Wisely Sunshine
Wisely Sunshine

My commpany doesn't offer any match for the 401K plan and that make most of my co-worker chose not to participate in the 401K. Is it still a good idea to participate in the plan even without a match?

broknowrchlatr
broknowrchlatr

2 Questions:

1)Something that is rarely coverred on personal finance blogs is managing retirment income.

How should retirement income be taken out of retirement vehicles? I get 2 paychecks a month right now. Should I take out 2 paychecks a months in retirement? Once a year? Right after any jumps in the market?

2) Along the same lines, should any major changes be made in your 401k/ IRAs at the time of retirement (reallocation, etc.)?

Steve Austin
Steve Austin

Perhaps a bit of an ornery question: how should one go about identifying whether an advisor or money manager is one of the best in the business (MBA degrees and CFA charters aside)?

Second question, less ornery I hope: how did the money management industry come to assess fees on % of assets under management, and what can be done (within the industry) to change that immoderate practice?

TF
TF

My younger sister (she's 25) is desperate to buy a house. However, she's not started her 401(k) at work, she spends on clothes like they're going out of style (well, technically I guess they are), and she'll be borrowing quite a bit from our folks in order to put a decent amount down on the house. In situations like this, is there a good way to talk to people about personal finance, or is it something that you just hope they come into on their own?

KMC
KMC

In your opinion, what is the absolute best hedge against inflation?