Sometimes it is just as important to know how not to do a thing, as it is to learn how to do something. So let's take a moment to discuss what to avoid when choosing your major. 1  Do not leave it for your parents to decide your course of studies.
direct transfer. Definition. The movement of tax-deferred retirement assets from one plan or custodian directly to another. A direct transfer is not a withdrawal and does not incur any taxes or penalties. This allows a person to move his/her retirement assets as many times as he/she wants to plans or custodians that might be more suitable for him/her at that point in time.
A wire transfer is used to transfer funds from one bank or financial institution to another. These transfers are considered remittance transfers under U.S. law. However, since the inception of wire transfers, the term has also come to represent any electronic transfer of money from one person to another. No physical money is transferred between banks or financial institutions when conducting a wire transfer.