Patrick: Yes, but it is considered a taxable event.
Cappy, VERY, VERY rarely is it advantageous to file married filing separate.
My thanks to Kiplinger for hosting this online event.
Kittymomma, I told you I've been waiting for rates to go up since the early 2000s. I say start now, do it over time, and stay away from very long term bonds as they will suffer the most from rate increases
KittMomma: I actually just was at a conference yesterday where they presented a survey of how many experts on Wall Street predicted rates correctly in a future year, and the percentage was in the single digits for most years! None of us can predict when and where rates will go (just like we can't predict the stock market).
Cappy, tell your friends and family about it. And check back for info on the September event.
A big thank you to all of the advisers who were on hand to answer questions today.
And, thanks to all of the readers who submitted questions.
Stay tuned to Kiplinger.com and follow us on Twitter at @Kiplinger for more information on the next event. Good night!