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Jewish World Review Nov. 18, 1999 /9 Kislev, 5760

Bruce Williams

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Students can work and learn -- DEAR BRUCE: About a year ago, I quit my full-time job to become certified to teach. I have been earning $9 per hour, with a 30- to 40-hour work week. My problem is that I will be student-teaching full-time until June. My school discourages working during this period, but our budget will not stretch that far. What do you suggest? -- B.P., Wis.

DEAR B.P.: Schools often "discourage" students from working an extra job, but the reality is that many must. Certainly the non-traditional student, such as yourself, does not have the distractions of school events that the traditional student is exposed to. As one who went to college while married with children, I worked 12 hours every night and did student-teaching for four months -- and managed to survive with fairly decent grades. I am sure that you can do the same. One of my kids had a full-time job, went to law school full-time and graduated with honors. What I am suggesting is that the schools are very conservative about outside work, but it's a lot of baloney. There is no reason why you can't do your student teaching from 7:30 a.m. to 3:30 p.m. and find an evening job from 4 p.m. to midnight to keep your family going. It isn't easy, but it's certainly doable.

DEAR BRUCE: How does one determine if the home inspector they hire is going to work for the buyer or the seller? We had a bad experience that we would not like to repeat. -- G.K., via e-mail

DEAR G.K.: How does one hire any professional? Ask for recommendations. Inquire among your friends and acquaintances. There is no absolute protection for anyone in this circumstance, but asking the right questions and doing your homework is certainly a step in the right direction.

DEAR BRUCE: I left my job three months ago and was told that I had to roll over my 401(k) retirement account. Unfortunately, I don't know what "roll over" means, and neither do my friends. -- G.P. Bangor, Maine

DEAR G.P.:"Roll over" is simply an expression that means moving from one custodian to another. Ordinarily this would be handled by the brokerage house or a bank of your choosing, since there must be another party that makes the actual investments while you call the shots. If you choose a brokerage house, all you have to do is tell them you want your funds taken out of where they are now and put into a traditional IRA. As far as your responsibility goes, the brokerage house or bank will simply give you some papers to sign and they will handle the entire transaction. You should understand, however, that now that you've rolled the money over you must select an investment vehicle inside the IRA, such as a mutual fund, securities, etc. The broker should be able to help you with these choices as well.

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).


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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