Your account balance carries a hidden surrender charge. Millions of working Americans contribute a percentage of their earnings to a 401k account while many also have IRA accounts, most of which were formerly 401k that were rolled over to IRA’s. While some people follow the daily moves of their account balances, other wait patiently for […]
As the Dow nears hitting 17,000 after dropping to 6,626 back on March 2, 2009, you would think there would be mass euphoria and an upbeat feeling among you and your peers. Surprisingly, I don’t see or feel it. But, why is that? Shouldn’t everyone be feeling fantastic about their financial situation with such an incredible […]
Roth vs. Traditional IRA 8 Important Comparisons Deciding which retirement account type may fit your needs is an important step in retirement planning. The comparisons below provide an overview of the differences between the Traditional and Roth IRAs which may be a good resource for you. Remember…the Contribution Deadline for the 2013 Tax Year is […]
Your IRA or 401k is partially yours and partially the property of the IRS. Unfortunately, the IRS doesn’t tell you what they get until you make a withdrawal. RETIREMENT PLAN REALITY CHECK IRA Balance Marginal Tax Rates Yours […]
One half of all adults do not have a will (there are not statistics regarding out-dated wills). The older we get, the more concerned we are with having this important document completed. I’m guessing most of my readers have a will, but I would also guess that it may have been drafted many years ago […]
Good planning can make life easy on retirees. Unfortunately, many people wait longer than they should to start planning. If you are wondering where to start or what you should review read about these three key mistakes that you should want to avoid: 1. Investing only in bonds or CD’s to generate income. This mistake […]
This is the time of year you will hear much about IRAs (Individual Retirement Accounts) This is because an IRA contribution is the last tax deduction you can still create for your 2012 tax return to make a pretax IRA contribution (provided that you not eligible for another form of retirement saving, ect 401k defined benefit […]
The Dow Jones Industrial Average (Dow) closed just above its peak 5 ½ years ago, but as you will see below much has changed over that time. The Last Time The Dow Was Here (Oct. 2007) vs. Today: Dow Jones Industrial Average: Then 14164.5; Now 14253 Regular Gas Price: Then $2.75; Now $3.73 GDP […]
I set up my financial planning practice in Glen Ellyn back in 1996, one of my first concerns was how I would save for retirement as an entrepreneur. At the time, the best plan for me was a SEP IRA which allowed me to set aside 25% of my “net” income. Several years ago a […]
Why I Dislike Taxes and How I Minimize What I Owe I want less government in my life and I will do everything I legally can to give Uncle Sam as little of my hard earned money as possible. If you want more government intervention in your life and you want the government to redistribute […]
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