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Tips To Help You Handle Your Money
In one hand, out the other. The problem here is money is just too handy! Here are some hot tips for managing your retirement accounts, or just managing your money (period.) Even if you're younger than 59 years, you can make a penalty-free early withdrawal of up to $10,000 from your IRA if the money is used for the purchase of a first home! More than one IRA in the family? Maybe there's IRA money in more than one investment? Smart Money magazine warns that over time fiduciary institutions can sometimes lose track of your beneficiaries. Or when you switch beneficiaries, some institutions may not update the information correctly. So check on your IRA information every few years. Some people lose track of their money. Can you believe that? Well, it's true, says Jane Bryant Quinn. People move and forget to give their new address to the banks and brokerage houses that hold their property. They know where their money is, but the bank doesn't know where they are. When statements are returned, financial entities eventually mark the accounts "unclaimed," and bye-bye account. Sometimes people leave a job (even leave town) without claiming that last paycheck, pension funds, refunds for phone and electric company deposits. And there are unused gift certificates, abandoned safe deposit boxes. Maybe your Great Uncle Wilberforce had a life insurance policy that named you as beneficiary. How would you know? He never mentioned it, and he died a couple of years ago. Take heart. Unless you live in New Hampshire, which confiscates most assets after 5 years, there's usually no statute of limitations on claiming the money that's yours. So exercise your memory. A little extra cash is always handy! I have to make tracks, so that's it for now Unless of course you want some MORE HOT TIPS! Handily Yours - April May
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