64% feel that Social Security will be …
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A Closer Look At Gold
Thursday, May 5th, 2011
America’s got gold fever. Internet headlines inform you that gold settled at another record close today. Nightly news segments show you footage of excited sellers and beaming commodities traders. Radio commercials remind you that gold has outperformed stocks in the last decade. How should you respond to all this?
There’s no doubt that in recent history, the performance of gold is …
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S&P Cuts U.S. Outlook
Monday, April 25th, 2011
Pessimism over America’s ability to reduce its deficit. When one of the world’s premier credit rating agencies issues a warning for America, global stock markets dip. On April 18, Standard & Poor’s announced that its rating outlook for the United States was now “negative” instead of “stable”. It was a landmark moment – S&P had never made such a declaration about …
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3 Reasons To Max Out Your 401k
Tuesday, April 19th, 2011
Do you have a million dollars? At the moment, probably not. But if you invest and save diligently and let your assets compound, who knows? You may be a millionaire someday. In fact, you may need to be a millionaire someday. If you stay retired for 20 or 30 years – which could happen – it could take …
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Which Retirement Plan Is Right For You?
Monday, April 11th, 2011
All retirement plans are not the same. In fact, there is such a wide variety of retirement plans that it is worth it to read up on your choices. Here’s a brief look at the different plans and what they have to offer.
The traditional 401(k). Most people have such a retirement savings plan, and it works like this. The plan …
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10 Little-Known Tax Breaks (That May Provide BIG Savings)
Tuesday, April 5th, 2011
The Internal Revenue Code is around 700 pages thick – not as long as War and Peace or Remembrance of Things Past, but much drier reading. However, some very nice tax breaks may be found within its pages and amendments. Not all are well-known.
Reducing America’s debt. If you write a check to the federal government to help decrease the national debt, it counts …
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An Inherited IRA
Monday, March 28th, 2011
When the owner of an IRA passes away, his or her heirs must be aware of the rules and regulations affecting the inherited IRA. Ignorance could lead you straight toward a tax disaster.
Please note that this is simply an overview. Rather than use this article as a guide, use it as a prelude before you talk to a …
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Is Inflation Back?
Monday, March 21st, 2011
Prices are rising. In February, the Consumer Price Index advanced 0.5%. That follows increases of 0.4% in December and January. This doesn’t exactly represent runaway inflation –to give you some perspective, the CPI rose by almost 1.1% per month across 1979 – but it may be cause for concern.
Producer prices have also jumped. The government’s Producer Price Index climbed …
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Should You Own Your Home Free & Clear Before You Retire?
Monday, February 28th, 2011
At first glance, the answer would seem to be “absolutely, if at all possible.” Retiring with less debt … isn’t that a good thing? Why not make a few extra mortgage payments to get the job done?
In reality, things are not so cut and dried. There is a fundamental opportunity cost to consider. If you decide to put more money …
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The 2% Opportunity
Monday, February 7th, 2011
What would you do with an extra $1,000 or $2,000? The Tax Relief Act of 2010 will give many of us the equivalent of a 2% raise in 2011. Employee payroll taxes have been cut from 6.2% to 4.2% this year. So if you pay into Social Security, you are looking at a rise in your take-home pay. What are your plans …
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8 Ways To Protect What You’ve Saved
Monday, January 24th, 2011
Estate planning is a task that people tend to put off, as any discussion of “the end” tends to be off-putting. However, those who leave this world without their financial affairs in good order risk leaving their heirs some significant problems along with their legacies.
No matter what your age, here are some things you may want to accomplish this year with …
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IRA Changes For 2011 – What You Need To Know!
Monday, January 17th, 2011
You can’t defer income resulting from a Roth IRA conversion in 2011. If you converted a traditional IRA to a Roth IRA in 2010, you could opt to divide the income resulting from the conversion between your 2011 and 2012 federal tax returns. (If you did go Roth in 2010, you have until October 17, 2011 to choose this income deferral option.) …
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5 Ways To Break Bad Money Habits
Wednesday, January 12th, 2011
Many of us plan thoughtfully for all kinds of life goals. Yet many of us spend impulsively, using our money on the moment rather than saving or investing it for the future. This last recession caused us to take a second look at where our dollars go. If you seem to be making adequate money and yet dollars still appear to …
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8 Tips For Planning YOUR Retirement
Monday, January 3rd, 2011
Planning financially for retirement may feel overwhelming. For some, that feeling is what keeps them from really focusing on and implementing a plan. If you haven’t started planning for your retirement – do yourself a favor and make TODAY the day you begin.
1. The earlier the better.
Time is definitely one of your greatest allies. A person who begins …
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The Bottomline On The 2010 Tax Relief Act
Monday, December 20th, 2010
A holiday gift for taxpayers? After a 277-148 passage in the House and an 81-19 approval in the Senate, President Obama signed the 2010 Tax Relief Act into law on December 17, extending the Bush-era tax cuts. Here is the impact of the new legislation:
Current federal income tax rates are preserved for everyone. The federal income tax brackets will …
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A Tax Compromise?
Wednesday, December 8th, 2010
Many expected a deal – but not necessarily this one. Political and economic analysts widely believed that President Obama and Republican leaders would reach a compromise on the Bush-era tax cuts. Many felt a deal would be struck early in December. Yet few forecast how agreeable the President would be.
The Bush-era tax cuts would be extended for the wealthy. Under the bipartisan plan, the EGTRRA …
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Create A Pool Of Healthcare Dollars That Will Grow In Any Market
Monday, November 29th, 2010
How will you pay for long term care? The sad fact is that most people don’t know the answer to that question. But a solution is available.
As baby boomers leave their careers behind, long term care insurance will become very important in their financial strategies. The reasons to get an LTC policy …
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The Top 10 Financial To-Do’s (for 2010 into 2011)
Wednesday, November 24th, 2010
The end of the year is a good time to review your personal finances. What are your financial, business or life priorities for 2011? Try to specify the goals you want to accomplish. Think about the consistent investing, saving or budgeting methods you could use to realize them. Also, consider these year-end moves.
1. Think about adjusting or timing your income and tax …
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The Implications If The Bush-Era Tax Cuts Expire
Monday, November 22nd, 2010
As 2010 draws to a close, Congress will likely act to extend the Bush-era tax cuts into 2011 or beyond. However, this is the same Congress that has done nothing about the estate tax for a year. So let’s play “what if” for a moment. What if we witness an “epic fail” on Capitol Hill and the EGTRRA …
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The New Bubble Economy. Is QE2 To Blame?
Monday, November 15th, 2010
Is the glass half full? The Federal Reserve has committed to buying $600 billion worth of Treasury bonds between now and June, and it wants to purchase up to $900 billion in debt by the end of September 2011. This second round of quantitative easing has been dubbed QE2. In a nutshell, the effort would pour cash into the banking system to promote lending and …
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2010 Year-End Money Moves To Consider
Monday, November 8th, 2010
What has changed for you in 2010? Did you start a new job – or leave a job behind? Did you retire? Did you start a family? If some notable changes occurred in your personal or professional life, then you will want to review your finances before this year ends and the next one begins.
Even if your 2010 has been comparatively uneventful, the end …
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THE MID-TERM ELECTIONS – WHAT EFFECT COULD THE RESULT HAVE ON STOCKS & BONDS?
Thursday, November 4th, 2010
GOP picks up 60 seats in the House, 6 in the Senate. The 2010 midterm elections are over and frustration has prompted change on Capitol Hill. Republicans will control the House with at least 239 seats; Democrats will retain a narrow majority in the Senate with at least 51 seats.
Here comes gridlock. “We’re determined to stop the agenda Americans have rejected and to turn …
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Social Security: Apply Now or Take It Later?
Monday, November 1st, 2010
Now or later? When it comes to the question of Social Security income, the choice looms large. Should you apply now to get earlier payments? Or wait for a few years to get larger checks?
Consider what you know (and don’t know). You know how much retirement money you have; you may have a clear projection of retirement income from other potential sources. Other factors …
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How Much Retirement Income Will You Really Need?
Wednesday, October 27th, 2010
What is enough? What is not enough? If you’re considering retiring in the near future, you’ve probably heard or read that you need about 70% of your end salary to live comfortably in retirement. This estimate is frequently repeated … but that doesn’t mean it is true for everyone. It may not be true for you.
You won’t learn how much retirement income you’ll need by …
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Is The U.S. Dollar In Peril?
Monday, October 25th, 2010
A favorite doomsday scenario. Have you heard about the forthcoming collapse of the dollar? Well, if you turn on your computer, your radio and even your TV, you just may. With the Federal Reserve poised to increase the money supply, the commentary on this topic is heating up again.
The scenario has variations, but the basic outline goes like this: An unexpected political or economic …
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Medicare Enrollment Season Starts Nov. 15th
Tuesday, October 19th, 2010
This fall, we have another Medicare enrollment season coming – and in the wake of health care reform, some things will start to change while other things will remain relatively the same.
Will Part B premiums increase in 2011? They probably won’t – at least not for most Part B enrollees. Most analysts think premiums will remain at or very near 2010 levels: $96.40 monthly …
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Should You Refinance Your Mortgage?
Monday, October 18th, 2010
Mortgages haven’t been this cheap for decades. You would have to go back to the 1950s to find mortgage rates that compare with those in 2010. On October 14, Freddie Mac’s weekly survey estimated the average interest rate on the 15-year FRM at 3.62% (a record low) with 0.7 points. Additionally, the 30-year FRM was averaging 4.19% nationally with 0.8 points.
On October 14, the …
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Spend Less Now, Live It Up Later – Why A Little Delayed Gratification May Help You Retire
Monday, October 4th, 2010
Baby boomers are known for wanting more out of life – and for living life on their own terms. They also get a bad rap as a generation weaned on instant gratification – wanting it all now, wanting to have it both ways.
It is neither wise nor truthful to paint a generation with a broad brush. What we do know in 2010 is that …
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6 Reasons Why You Shouldn’t Take Money Out Of Your 401(k)
Monday, September 27th, 2010
Recently, you may have heard about a spike in 401(k) withdrawals. The evidence is not merely anecdotal. Fidelity Investments recently issued its 2010 overview of the 401(k) accounts it administers and found that 22% of participants had outstanding loans from these retirement savings plans, with the average loan at $8,650. In 2Q 2010, a record 62,000 of Fidelity’s 401(k) participants had taken hardship withdrawals – …
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The Small Business Jobs Act – Good, Bad or Ugly?
Monday, September 20th, 2010
The long-stalled Small Business Jobs Act cleared a big hurdle on September 16 – it passed by a vote of 61-38 in the Senate. The measure will almost certainly pass in the House and become law later this month.
So what is in this bill? Will its perks and offerings really lead employers to step up hiring? And did anybody report on the interesting provision …
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Obama’s Midterm Tax Proposals – A Second Stimulus Package, An Election Ploy, or Just Plain Smart?
Monday, September 13th, 2010
Many Americans are frustrated with the pace of the economic recovery; many Democrats are worried that their party will lose its majority in the House and Senate. As elections loom, President Obama has offered a new platform of tax initiatives for Congress to consider and potentially approve.
Extending the Bush-era tax cuts (for the middle class). President Obama wants to extend the EGTRRA and JGTRRA …
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Combat Identity Theft By Freezing & Thawing Your Credit Record
Tuesday, September 7th, 2010
If you are worried about getting hacked – and, these days, who isn’t – a credit freeze is a precautionary measure that may be worth considering.
Is a credit freeze an iron-clad, 100% guaranteed way to protect yourself from Identity Theft? Unfortunately, no. Just about anyone could fall victim, just like almost anyone could become a victim of a home burglary. But ask yourself this – …
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Smart Financial Moves To Make Before You Say “I Do”
Monday, August 23rd, 2010
Are you marrying soon? Have you recently married? As you begin your life together, it’s important for you to start planning your financial future together and putting your finances on the same page. Here are some priorities you might want to write down on your financial to-do list …
Plan for retirement. There is a chance that decades from now, many of us who are …
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What Financial Documents Should I Keep On File?
Monday, August 16th, 2010
You might be surprised how many people have financial documents scattered all over the house – on the kitchen table, underneath old newspapers, in the hall closet, in the basement. If this describes your financial “filing system”, you may have a tough time keeping tabs on your financial life.
Organization will help you, your advisors … and even your heirs. If you’ve got a meeting …
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Healthcare Reforms May Lead To Short-term Aid For Medicare & Social Security
Monday, August 9th, 2010
Could Medicare soon be in better shape? Maybe. At the start of August, Medicare’s trustees reported to Congress that Medicare should remain financially in the black through 2029, a 12-year improvement over last year’s estimate. They credited the healthcare reforms carried out by Congress and the Obama administration, citing greater efficiency that would translate to savings for the program.
However, there is no guarantee that …
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Will The Bush-Era Tax Cuts Be Saved?
Tuesday, August 3rd, 2010
In July, Treasury Secretary Timothy Geithner said that very few taxpayers would be affected if the landmark tax cuts of 2001 and 2003 expired. “I do not believe it will affect growth,” he calmly commented on ABC’s This Week. Many legislators and observers on Wall Street and Main Street are far less calm about their potential end.
Why should they end now? The federal …
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6 Ways To Save For College (While Saving For YOUR Retirement)
Monday, July 26th, 2010
It can be done. All across America, families are meeting a mighty financial challenge – the challenge of paying college costs with retirement potentially on the horizon. How do they do it? They go about it consistently; they also get creative.
First, make sure the priorities are in the right order. Strange as it may sound, your retirement may need to take precedence over your …
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Protecting Your Individual Retirement Account
Tuesday, July 20th, 2010
Question: I will retire in 5 years. How can I protect my money, both now and in the future?
Answer: When you talk about “protection”, I believe you mean principal protection. However, when I hear the word protection, I believe that what you really want to know is how to grow and manage your nest egg so it can generate a steady …
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Should You Downsize & Simplify For Retirement?
Tuesday, July 6th, 2010
You want to retire, and you own a large home that is nearly or fully paid off. The kids are gone, but the upkeep costs haven’t fallen. Should you retire and keep your home? Or sell your home and retire? Maybe it’s time to downsize.
Lower expenses could put more cash in your pocket. If your home isn’t paid off yet, have you considered how …
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How LTC Insurance Can Help Protect You & Your Retirement Assets
Wednesday, June 30th, 2010
How will you pay for long term care? The sad fact is that most people don’t know the answer to that question. But a solution is available.
As baby boomers leave their careers behind, long term care insurance will become very important in their financial strategies. The reasons to get an LTC policy after age 50 are very compelling. Your premium payments buy you access …
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The 4% Withdrawal Rule – Fact or Fiction?
Tuesday, June 22nd, 2010
When retirement planners try to estimate just how much money a couple or individual should take out of their savings annually, their model scenarios often assume a 4% annual withdrawal rate. Why is 4% used so frequently? Was that percentage plucked out of thin air? No, it actually became popular back in the 1990s.
The “Trinity Study” helped popularize the 4% guideline. In 1998, a …
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Taxing the Rich to Pay for Health Care
Monday, June 21st, 2010
In 2013, wealthy Americans will pay extra Medicare taxes. Congress, President Obama and the IRS are putting a surcharge on the wealthy to help fund the health care reforms.
- Beginning in 2013, joint filers with adjusted gross incomes of $250,000 or greater and single filers with AGI of $200,000 or greater will have to pay 0.9% extra in FICA taxes (that is, Social Security and Medicare …
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Interest Rates On Fixed Mortgages Are Under 5%.
Monday, June 7th, 2010
The 2010 European debt crisis has been bad for the euro and bad for stocks, but there is a positive consequence emerging here in the U.S. – conventional mortgage rates are back below 5% again. On June 3, Freddie Mac’s Weekly Primary Mortgage Market Survey found average rates on 30-year home loans at 4.79%. That’s .3% lower than in the January 7 survey.
Now let’s …
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Interpreting the Recent Stock Market Correction – A blip in the bull market? Or is more selling ahead? A look at some opinions.
Thursday, June 3rd, 2010
Sooner or later, a bull market experiences a correction: a decline of at least 10% from a peak. We’ve now seen the first correction in the present bull market: the Dow went below 10,000 on May 25 (and rebounded).
When a correction occurs, there is the chance that it portends something greater – that is, the eventual end of a bull. With so much talk …
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The 2 Biggest Retirement Misconceptions
Friday, May 21st, 2010
We’ve all heard about the “new retirement”, the mix of work and play that many of us assume we will have in our lives one day. We do not expect “retirement” to be all leisure. While this is becoming a cultural assumption among baby boomers, it is interesting to see that certain financial assumptions haven’t really changed with the times. In particular, there are …
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Why The European Debt Crisis & Greece Have Wall Street Stressed
Monday, May 10th, 2010
It would be wonderful if the U.S. financial markets could “decouple” themselves from what is going on in Greece, Portugal and Spain. Unfortunately, the debt situation in these countries is like a ripple in a pond. The question is, how strong will the ripple ultimately be and will its full force reach our markets?
The problem. Greece, Spain, Portugal, Italy and Ireland are all carrying …
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An Incredibly Wild & Volatile Stock Market Thursday On Wall Street
Friday, May 7th, 2010
Did a mistake make a selloff more severe? The Dow Jones Industrial Average settled at 10,520.32 Thursday after a 347.80 loss, with fears over European sovereign debt affecting Wall Street. Yet the 347.80 decline was just half the story. The Dow also saw its greatest-ever intraday swoon Thursday, diving 998.50 below the open at one point and taking an intraday swing of 1,007 points. …
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Main Street’s anger over Wall Street reaches the Senate floor
Monday, May 3rd, 2010
Another reform bill is now making its way through the Senate – a bill that would reregulate the financial services industry with a few goals in mind:
- Preventing failures of large banks and financial services firms, or at least insulating taxpayers and the economy in such an emergency
- Creating a new financial watchdog agency to protect consumers
- Tightening regulations on derivatives
- Banning banks from proprietary trading (with the “Volcker …
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Which Retirement Plan Is Right For You?
Wednesday, April 28th, 2010
All retirement plans are not the same. In fact, there is such a wide variety of retirement plans that it is worth it to read up on your choices. Here’s a brief look at the different plans and what they have to offer.
The Traditional 401(k). Most people have such a retirement savings plan, and it works like this. The plan is funded with pre-tax …
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Should You Pay Off Your Mortgage? Maybe … Maybe Not!
Monday, April 26th, 2010
To pay or not to pay … that is the question. It sounds good, right? Pay off the mortgage and suddenly you have no more monthly payments, better cash flow, and the opportunity to make other investments. After all, buying a home is an investment, but owning a home is the American Dream. Right?
While owning a home free and clear may seem like the obvious …
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Half of Americans aren’t paying federal income taxes. Is that right?
Monday, April 19th, 2010
A provocative statistic. Last July, the nonpartisan Tax Policy Center (a joint venture of the Urban Institute and the Brookings Institution) estimated that 47% of Americans would not owe a penny to the IRS for tax year 2009.
The White House has projected the federal deficit at $1.6 trillion for 2010 – that’s about 10.6% of our GDP, a percentage unseen since the 1940s. So is …
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The Fed Stopped Buying Mortgage-Linked Securities – How Will This Impact The Real Estate Market?
Tuesday, April 13th, 2010
The Fed pulled out of the mortgage market. On March 31, 2010, the Federal Reserve halted its 15-month-long program to buy up toxic mortgage-linked securities. Of all the things the Fed did to try and heal the economy and financial markets, this may have been its most crucial move. It was March 2009 when the program really began to get rolling. Guess when the current …
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Could You Raise Your Social Security Income By $1,000 A Month?
Friday, April 2nd, 2010
How filling out Form SSA-521 could help you put more money in your mailbox.
A couple of years ago, Boston University economics professor Laurence Kotlikoff publicized a mindblowing discovery: retirees could dramatically increase their Social Security checks by reapplying for Social Security benefits. It was entirely legal; it was an opportunity that had lay unnoticed for years. It was soon discussed on National Public Radio …
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Bond Investing For Retirees – Multiple Choices & Complications
Wednesday, March 31st, 2010
Bond investing basics are simple. When you buy a bond, the bond issuer – either a government or corporation – pays you an agreed-upon rate of interest known as the coupon rate. In addition, you get your original investment back when the bond reaches a maturity date.
Bonds come in many flavors: taxable and tax-exempt, long- and short-term, AAA-rated and junk, U.S. and foreign, inflation-protected, fixed-rate …
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How Will Obamacare Affect Your Small Business?
Tuesday, March 30th, 2010
Increased costs or savings in years to come? What do the federal health care reforms mean for your company? Will they lead to thousands of dollars in extra costs and more paperwork? Or will federal subsidies make this a “game changer” for small companies that have struggled to provide insurance plans?
If you employ 50 or more, you will face a major choice. Businesses with 50 …
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Obamacare – Separating Facts From Myths
Friday, March 26th, 2010
Confusing doesn’t even begin to describe it. Throughout the very long debate over health care reform, a great deal of misinformation (spurred by presumption or misunderstanding) was circulating. Additionally, many changes and alterations to the proposed law were made along the way. At this point, some of the arguments your friends, neighbors or co-workers continue to debate don’t even factor into the legislation signed by …
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Health Care Changes in America
Wednesday, March 24th, 2010
The House approves the Senate bill. Not a single Republican voted for it, but 219 Democrats did – and by a vote of 219-212, the House of Representatives sent the Senate’s version of landmark healthcare legislation toward President Obama’s desk. The President could sign the bill into law as early as March 23.
But the fight is not over. The House of Representatives also passed …
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Should YOU Retire Early?
Monday, March 15th, 2010
While it may be possible, it is not always advisable.
Do you dream of retiring before you turn 60? How about before you turn 50? Well if you do, you might want to think twice before you make the move. If your heart is set on leaving work early, you want to be sure to leave with the right mindset and the right estimation of your …
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Retirement Planning for Divorced Women
Monday, March 8th, 2010
You have just gone through one of the most challenging and difficult periods that a woman can experience in her life – a divorce. While many things may still be in up in the air, one aspect of your life that you should make sure you’re in control is your finances.
Retirement planning for divorced women is not that much different than retirement planning for …
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ROTH IRA CONVERSIONS FOR 2010
Tuesday, February 2nd, 2010
In 2010, anyone may convert a traditional IRA to a Roth IRA. No income limits will stand in the way of the conversion. Should you do it? Here’s why it may (or may not) make sense for you to go Roth this year.
Why you might want to consider it. A Roth IRA permits tax-free growth and tax-free income distributions in retirement (assuming you are …
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How and When to Sign Up for Medicare
Monday, January 25th, 2010
Medicare enrollment is automatic for some of us. In fact, anyone who has received a Social Security check or 24 months worth of Social Security Disability Insurance (SSDI) is automatically enrolled in Medicare Part A and Part B. Part A is hospital insurance; Part B is medical insurance.
If you’re getting Social Security checks and approaching age 65, you’ll get a Medicare card in the …
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How Fast The Stock Markets Recover
Monday, January 18th, 2010
The stock market is amazingly resilient. You might be surprised at how fast the stock market can change … for the better. Let’s look at how the market has recovered remarkably – and quickly – from some notable downturns.
2008-2009. The collapse of the subprime mortgage markets triggered a recession and made 2008 the poorest year for stocks since 1931. The Dow Jones Industrial Average …
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5 Financial New Year’s Resolutions
Monday, January 4th, 2010
Okay. It’s that time of year – the time for new year’s resolutions. They can include financial resolutions. Here are some possibilities for 2010.
Control non-mortgage debt. Experian says the average American carries about $17,000 in debt unrelated to home loans. Too much of this is simply credit card debt. So how about paying down, paying off and maybe getting rid of some cards?
How much financial …
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TAX ALERT: PLAN TO TAKE ADVANTAGE OF 2010
Monday, December 21st, 2009
Do you see a warning light flashing? Americans with high net worth and high incomes are preparing for the likelihood of higher taxes in 2011 and subsequent years. High earners are almost certainly going to take the hit if the EGTRRA and JGTRRA cuts fade away at the end of 2010. Here’s a summary of what’s happening – and a look at what might happen. …
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Dollar Cost Averaging Explained
Tuesday, December 15th, 2009
Are you investing inconsistently…or not at all? Inconsistent investment can sabotage your retirement savings efforts. There’s a way to avoid that problem: a strategy called Dollar Cost Averaging.
By investing equal dollar amounts on a regular monthly basis, you can plan to build wealth in a way you can afford today.
DCA to the rescue. Many people think they can’t afford to invest – their budgets …
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6 Steps To Get Out Of Debt
Monday, December 14th, 2009
Every day, people draw on money they don’t actually have – via credit cards, payday loans, home equity lines of credit, and even their 401(k)s. Many of them end up making minimum payments on these high-interest loans – a sure way to stay indebted forever. If this is your situation, you may be wondering: how do I get out of debt? Let me give you …
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Money & Your Happiness
Tuesday, December 1st, 2009
Does money actually buy a degree of happiness? In this recessionary holiday season, it is worth thinking about the effect money has on our lives. What role does money play in your happiness? Is that role overrated?
Most psychologists and sociologists will tell you that our happiness comes largely from social interaction. But studies indicate that there is a direct correlation between wealth and a kind …
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