Make us your home page
Instagram

Finance questions: Gas prices pare back road trips

We asked

Will you spend more or less on your vacation than you did last year?

Due to gas prices, we will take only one week of vacation rather than the normal three, and we will use credit card points for our hotel stay.

Don and Bo Hall, Spring Hill

This year it's England, Portugal and Germany in June with a cruise in December. But at the rate of exchange for the euro and the British pound, it may be my last trip to Europe for a while.

Bob Lartz, St. Petersburg

We are going on a cruise over the summer. Since food and fuel are higher, the flights and costs are higher than a standard vacation from the past.

Nancy Schreimann,

Tarpon Springs

We have eliminated our driving vacations to see family in Missouri because of gas prices.

Steve Weiss, Tampa

My mom and I had planned to fly to Nashville and drive the surrounding states in a rental car. Due to the price of gas, we are changing our plans and will only stay in Nashville and will shorten the trip.

Heather Joie, St. Petersburg

We plan to travel to the Midwest to visit friends and family, as we have in the past. Our expenses will be above last year's because of the higher energy prices. The economy will not affect our plans in any way.

Bob Bucklin, Zephyrhills

We've decided on Sanibel instead of Hilton Head this summer, primarily to cut down the driving time. It will save a lot of gas money, and the lodging is a lot cheaper on Sanibel.

Peter Ford, Tierra Verde

I plan to visit my son in Chicago in July and will undoubtedly make reservations for a long weekend in Florida for a golfing retreat by summer's end. I'm not going to let a bunch of selfish bankers determine how I view and live my life.

Mike Rosenthal,

Clearwater

You asked

I need to start drawing from my IRA when I turn 701/2, but I don't need the income. Can I deposit my withdrawal back into my IRA and use it as a tax-deductible contribution?

No. You cannot make a contribution to a traditional IRA once you reach 701/2. There is no age limit to contribute to a Roth IRA as long you have earned income. But you can't get a tax break for your Roth contribution.

I have a fixed-term IRA annuity yielding 7 percent that ends in July. What can I invest this in? I am 80 years old and need this income to live on. My health is good.

Consider an immediate annuity that will pay you a monthly income you can't outlive. You'll get the largest payment if you choose the option with nothing for your survivors. If you opt for CDs and money market accounts, you could withdraw principal as needed, but risk running out of money. Or consider a reverse mortgage.

Next week's question

How confident are you that you'll have enough money

to live comfortably throughout your retirement years?

Elaborate with a few sentences and tell us whether

you are retired or working.

To ask a question, make a comment or answer the Money

Question of Week, e-mail hhuntley@sptimes.com or write

Helen Huntley, P.O. Box 1121, St. Petersburg, FL 33731. Visit her MoneyTalk blog (blogs.tampabay.com/money) for more

money information.

Finance questions: Gas prices pare back road trips 04/05/08 [Last modified: Saturday, April 5, 2008 5:31am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. In advertising, marketing diversity needs a boost in Tampa Bay, nationally

    Business

    TAMPA — Trimeka Benjamin was focused on a career in broadcast journalism when she entered Bethune-Cookman University.

    From left, Swim Digital marketing owner Trimeka Benjamin discusses the broad lack of diversity in advertising and marketing with 22 Squared copywriter Luke Sokolewicz, University of Tampa advertising/PR professor Jennifer Whelihan, Rumbo creative director George Zwierko and Nancy Vaughn of the White Book Agency. The group recently met at The Bunker in Ybor City.
  2. Tampa Club president seeks assessment fee from members

    News

    TAMPA — The president of the Tampa Club said he asked members last month to pay an additional assessment fee to provide "additional revenue." However, Ron Licata said Friday that the downtown business group is not in a dire financial situation.

    Ron Licata, president of the Tampa Club in downtown Tampa. [Tampa Club]
  3. Under Republican health care bill, Florida must make up $7.5 billion

    Markets

    If a Senate bill called the Better Care Reconciliation Act of 2017 becomes law, Florida's government would need to make up about $7.5 billion to maintain its current health care system. The bill, which is one of the Republican Party's long-promised answers to the Affordable Care Act imposes a cap on funding per enrollee …

    Florida would need to cover $7.5 billion to keep its health care program under the Republican-proposed Better Care Reconciliation Act of 2017.  [Times file photo]
  4. Amid U.S. real estate buying binge by foreign investors, Florida remains first choice

    Real Estate

    Foreign investment in U.S. residential real estate recently skyrocketed to a new high with nearly half of all foreign sales happening in Florida, California and Texas.

    A National Association of Realtors annual survey found record volume and activity by foreign buyers of U.S. real estate. Florida had the highest foreign investment activity, followed by California and Texas. [National Association of Realtors]
  5. Trigaux: Tampa Bay health care leaders wary of getting too far ahead in disruptive times

    Business

    Are attempts to repeal Obamacare dead for the foreseeable future? Might the Affordable Care Act (ACA), now in dire limbo, be revived? Will Medicaid coverage for the most in need be gutted? Can Republicans now in charge of the White House, Senate and House ever agree to deliver a substitute health care plan that people …

    Natalia Ricabal of Lutz, 12 years old, joined other pediatric cancer patients in Washington in July to urge Congress to protect Medicaid coverage that helped patients like Ricabal fight cancer. She was diagnosed with Ewing's sarcoma in 2013 and has undergone extensive treatments at BayCare's St. Joseph's Children's Hospital in Tampa. [Courtesy of BayCare]