Can you borrow from an IRA, 401(k) or Roth IRA to invest in a rental property or a business? ? Bob H.
It can be tempting to borrow money from your retirement funds, but it's usually not a good idea, warns Frank deNapoli, senior vice president at Winslow, Evans & Crocker in Peabody, Mass. "You're shortchanging your retirement," he says.
Assets you take out of your nest egg will not have an opportunity to grow until you pay them back. That means you could be missing out on years of potential tax-deferred compound growth.
Most 401(k) plans allow loans, but borrowing is governed by strict rules. For example, you typically can't borrow more than $50,000 or 50% of the value of your 401(k). And you'll need to begin repaying that loan at your next pay period. If you're borrowing the money for most reasons, including to invest in a rental property or a business, you'll have up to five years to pay back the loan. (Loans to purchase a primary residence have longer payback periods, typically around 10 years.)
DeNapoli stresses that 401(k) loans should be an option of last resort. One reason: If you lose your job, you'll have to pay back the loan immediately or the IRS will treat it like an early distribution. That would trigger a 10% early withdrawal penalty in addition to income taxes.
As for IRAs, borrowing against them is prohibited except in self-directed IRAs. That type of account allows you to use your retirement assets as collateral for a loan on certain types of real estate. While this option poses fewer risks than borrowing from your 401(k), it's still dangerous: You're taking money out of your (presumably) diversified retirement portfolio to invest it in a single asset. "You're gambling your retirement assets on the real estate market," deNapoli says. "It could end in tears."
? Marc Mewshaw
Got a question for the Help Desk? Send it to?helpdesk@cnnmoney.com.
By Virginia Bola, PsyD Politicians debate solutions: abrogating current trade treaties, providing protection for various industries, investment in retraining programs, wishful thinking that lower taxes will turn everything around, the promise of a labor shortage within 15 years.
Meanwhile, the population grows, demanding the creation of 150,000 new jobs per month just to stay even. Where are the more than 2 million 2004 jobs promised by the Council of Economic Advisers?
They will come when the government truly invests in the social and financial welfare of the working public. Historically, the U.S. has looked at employment only in times of crisis ? recession or alarming unemployment figures. Rather than ?quick fixes,? we need a national long- range policy on employment which addresses the issue, in good times and bad, with sustained interest, analysis, and support.
Here are seven proposals:
1. Create a National Office of Employment to develop long term strategies and oversight of the U.S. labor market in order to track trends, analyze data, research emerging problems, and prepare early interventions.
2. Identify growing and potential industries and the skills they will need in future staff.
3. Design a plan which allows for the rapid retargeting of training courses as Community Colleges and vocational schools are traditionally 5 to 15 years behind current needs.
4. Provide substantial tax incentives for businesses to hire in the U.S. rather than shipping their jobs to low income countries.
5. Devise ?red-tape-less? programs to reward employers with significant tax credits for hiring the long-term employed and new trainees.
6. Overhaul the processes of State Unemployment Offices by implementing coordinated support programs in which workers participate as part of receiving unemployment benefits and employers participate as a means of meeting their future needs for staff.
7. Provide incentives for employers to hire more part-time workers. Simultaneously, America must reframe its social policy to promote a new work ethic of reduced work hours, along with increased leisure and volunteer activities, to allow more workers to be employed, albeit for fewer hours. Due to the negative emotional effects of living without work, our society needs to stress high employment rather than high productivity which often translates into fewer workers, working harder and longer.
Dr. Bola operated a rehabilitation company, developing innovative job search techniques for disabled workers, for 20 years. A licensed clinical psychologist, she directed vocational programs for the mentally ill, served as a Vocational Expert in administrative and civil court, and pioneered vocational testimony in Workers? Compensation. Author of The Wolf at the Door: An Unemployment Survival Manual, she can be found at: http://www.virginiabola.com
Contact: Tracey Peake tracey_peake@ncsu.edu 919-515-6142 North Carolina State University
Hydrogen peroxide doesn't just come in bottles from the drugstore the human body makes it as well. Now researchers from North Carolina State University have found a way to use naturally occurring hydrogen peroxide inside cells to switch on gene expression. Their method also serves as a highly sensitive hydrogen peroxide detector, which may help scientists determine the molecule's role in cellular health and disease.
In a normally functioning cell, hydrogen peroxide serves as a messenger, carrying signals through a cell in order to allow the cell to respond to external stimuli or events. Once the message is transmitted, the hydrogen peroxide diffuses and disappears.
"It's an ideal messenger compound, because it's small, fast, and doesn't linger," says chemist Alex Deiters. "It works by oxidizing, or modifying, certain amino acids in proteins, which affects the protein's function."
Deiters and graduate students Jeane Govan, Andrew McIver and Chad Riggsbee wanted to see if they could harness hydrogen peroxide's oxidizing property as a way to control gene expression, using the gene that gives fireflies their "glow," or luminescence, as a test case. They designed a molecule that was sensitive to hydrogen peroxide and enabled expression of the firefly luciferase gene in live mammalian cells. When hydrogen peroxide was present, the luciferase gene was expressed, causing the cell to glow.
The researchers' results appear online in Angewandte Chemie.
"The exciting aspects of this synthetic gene switch are that you can use it not only as a way to detect the presence of hydrogen peroxide within cells, in this case, by making cells containing hydrogen peroxide glow, but also to express any gene of interest in response to the presence of hydrogen peroxide," Deiters says. "In terms of detecting hydrogen peroxide, the system is at least an order of magnitude more sensitive than anything used previously."
###
Note to editors: abstract of the paper follows.
"Hydrogen Peroxide Induced Activation of Gene Expression in Mammalian Cells using Boronate Estrone Derivatives"
Authors: Jeane M. Govan, Andrew L. McIver, Chad Riggsbee and Alexander Deiters, North Carolina State University
Published: Angewandte Chemie
Abstract:
Keeping the boron out of the ER: A genetic switch was engineered that activates gene expression in the presence of H2O2. The use of a boronate group on an estrone molecule allows for activation of gene expression through binding of the estrogen receptor only when the boron group is oxidized by H2O2. This sensor is highly sensitive and specific for H2O2.
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AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
Contact: Tracey Peake tracey_peake@ncsu.edu 919-515-6142 North Carolina State University
Hydrogen peroxide doesn't just come in bottles from the drugstore the human body makes it as well. Now researchers from North Carolina State University have found a way to use naturally occurring hydrogen peroxide inside cells to switch on gene expression. Their method also serves as a highly sensitive hydrogen peroxide detector, which may help scientists determine the molecule's role in cellular health and disease.
In a normally functioning cell, hydrogen peroxide serves as a messenger, carrying signals through a cell in order to allow the cell to respond to external stimuli or events. Once the message is transmitted, the hydrogen peroxide diffuses and disappears.
"It's an ideal messenger compound, because it's small, fast, and doesn't linger," says chemist Alex Deiters. "It works by oxidizing, or modifying, certain amino acids in proteins, which affects the protein's function."
Deiters and graduate students Jeane Govan, Andrew McIver and Chad Riggsbee wanted to see if they could harness hydrogen peroxide's oxidizing property as a way to control gene expression, using the gene that gives fireflies their "glow," or luminescence, as a test case. They designed a molecule that was sensitive to hydrogen peroxide and enabled expression of the firefly luciferase gene in live mammalian cells. When hydrogen peroxide was present, the luciferase gene was expressed, causing the cell to glow.
The researchers' results appear online in Angewandte Chemie.
"The exciting aspects of this synthetic gene switch are that you can use it not only as a way to detect the presence of hydrogen peroxide within cells, in this case, by making cells containing hydrogen peroxide glow, but also to express any gene of interest in response to the presence of hydrogen peroxide," Deiters says. "In terms of detecting hydrogen peroxide, the system is at least an order of magnitude more sensitive than anything used previously."
###
Note to editors: abstract of the paper follows.
"Hydrogen Peroxide Induced Activation of Gene Expression in Mammalian Cells using Boronate Estrone Derivatives"
Authors: Jeane M. Govan, Andrew L. McIver, Chad Riggsbee and Alexander Deiters, North Carolina State University
Published: Angewandte Chemie
Abstract:
Keeping the boron out of the ER: A genetic switch was engineered that activates gene expression in the presence of H2O2. The use of a boronate group on an estrone molecule allows for activation of gene expression through binding of the estrogen receptor only when the boron group is oxidized by H2O2. This sensor is highly sensitive and specific for H2O2.
[ | E-mail | Share ]
?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
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Public release date: 1-Aug-2012
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