Jewish World Review Dec. 1, 1999 /22 Kislev, 5760
rentals a bad idea
DEAR BRUCE: My company has transferred me 1,300 miles away. My problem is that I own my primary residence and I am not sure what I should do with it. Should I keep it as a rental, or sell it? My company picks up all the expenses if I sell and will also help me buy on the other end. What are your thoughts? -- H.K., via e-mail
DEAR H.K.: Seldom are single-family homes good rental properties. Trying to keep them occupied and maintained from 1,300 miles away becomes extraordinarily difficult. If I were you, I would take the generous offer from your company.
DEAR BRUCE: I have been required to start taking distributions from my IRA. Since I have no need for the money, I would like to be able to create an estate for my children. What do you suggest? -- P.K., Carmel, Calif.
DEAR P.K.: As you know, you will have to pay taxes on the distribution. Whatever the residual is, why not invest it in mutual funds that have growth as their goal, or invest directly in equities that you feel have a good future? The nice thing about this is that since you don't need the money, the ups and downs in the marketplace should have little concern for you. You could also put the funds into a Roth IRA. There is no mandatory distribution, and you can pass this money directly on to your children.
DEAR BRUCE: I would like a list of some of the lowest interests charged by credit cards. Could you help me? -- George, Topeka, Kan.
DEAR GEORGE: Bankcard Holders of America is a non-profit organization that not only assists consumers in saving money on credit, getting out of debt and resolving debt problems, but they also offer a list of low-rate and secured credit cards, and guides and brochures on credit topics. They are located at 524 Branch Drive, Salem, VA 24153, or you can call them at (540)
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).
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