Q: I have money I would like to keep at a bank. What's the most that will be covered under federal deposit insurance?
L.S., Winter Garden
A: The max is $250,000 that will be covered for the same registration. Anything more than $250,000 should be held under a different registration, such as a trust, or jointly with another individual.
Q: I had IRA money invested in mutual funds. I just redeemed the funds. How will I be taxed?
M.P.H., 60, Winter Park
A: You will be taxed at your current income tax rate for this year. You will not have to worry about any penalty as you are over the age of 59 ½.
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 the Central Florida chapter of the Financial Planning Association. Answers are for educational purposes only; you should also consult a financial professional. Questions and answers may be edited for space considerations.