Q: Should I wait for the market to go down before choosing to invest? — A.B., Orlando
A: The odds of the stock market being higher one year from now are the same whether we’re currently at a record high or a record low. The market pull back you are waiting for will happen at some point but it might fall back to a point that is higher than we are today. As long as you don’t have an immediate need for the money you’re investing, then you will likely experience growth if you invest in a diversified portfolio. — Mike Salmon
Q: I am not yet required to take my RMD. I would like, however, to make my normal charitable distributions directly from my IRA for all the reasons that have been mentioned in this column. Is this doable? What seems like a simple issue turned into a very confusing conversation with my investment company’s representative. — C.B., Maitland
A: In order to make a qualified charitable distribution, you must be over age 70½. The best option is to have the investment company send you a check for the amount you want to donate to the charity, deposit the check into your checking account, and then proceed to write a check to the charity. The qualified charitable distribution rules are only applicable when you are over age 70½. — Gregg Collier
Have a question? E-mail firstname.lastname@example.org. Include your name (only your initials will be printed), hometown and phone. Questions are answered by Certified Financial Planners from Financial Planning Association of Central Florida. Answers are for educational purposes only; you should also consult a financial professional. Questions and answers may be edited for space considerations.
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