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03-09-2019 02:51 PM
Hi Suze,
My friend is going to receive a lump sum pension death benefit distribution. If she takes it all at once, she would have to pay a 20% income tax. If she rolls it over into an ira or an annuity she would not have to pay the tax now. She does not know where to put it. What do you recommend.
Thanks,
Mike
03-09-2019 02:54 PM
@Mikey2 Mike, these boards are for QVC viewers. Suze Orman will not read your post. It's possible she has a Facebook page where you could ask your question, but I don't really know. Other QVC vendors can be reached on their Facebook page.
03-09-2019 02:54 PM
@Mikey2 I sincerely doubt that Suze Orman reads these boards. I also think that your friend would do much better by contacting her financial planner or accountant in her area. I really do not want money information from someone on tv. Of course, this is just my opinion.
03-09-2019 02:54 PM
@Mikey2 The vendors don't read these forums so I would suggest you locate her FB page or website to contact her. Good luck!
03-09-2019 04:29 PM
@Mikey2 On second thought it would be wise to consult a financial advisor. I have my own opinion about this vendor.
03-09-2019 04:35 PM - edited 03-09-2019 05:07 PM
A financial consultant would help her. It would depend onmher financial situation.
I own five annuities and would never put a dime in one again. I wish I knew then what I know now.
She should use a consultant that does not sell or promote anything that he/she would make a profit from. They will advise her to put money in an account where the consultant can make the most money, not your friend.
03-09-2019 05:42 PM
Your friend needs to talk to an independent, registered investment advisor in her area. That’s someone who does NOT work for one of the national, retail brokerage chains, and doesn’t receive any compensation for promoting any particular product. In order for that person to give her the best advice possible, she also needs to be prepared to disclose her full financial picture. The last place someone should seek the type of advice that she needs is on a shopping channel message board.
03-09-2019 05:49 PM
I don't know about that @FrostyBabe1 . You just gave some pretty good advice.
03-15-2019 01:27 AM
Your friend could also check at her own bank. They usually have financial planners there that are more than happy to help.
03-15-2019 02:15 AM - edited 03-17-2019 05:36 PM
answer questions here@Mikey2 wrote:Hi Suze,
My friend is going to receive a lump sum pension death benefit distribution. If she takes it all at once, she would have to pay a 20% income tax. If she rolls it over into an ira or an annuity she would not have to pay the tax now. She does not know where to put it. What do you recommend.
Thanks,
Mike
Why are you posting here?
This is a Forum for QVC customers. It is not where you ask vendors questions. They don’t come here. Try her Facebook or email her directly.
Better yet, make an appointment with a Certified Financial Advisor.
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