The current mortgage market presents homeowners with an opportunity. 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...
The strong dollar policy is long gone, but the greenback isn’t in peril just yet. 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...
What effect could the results have on stocks and taxes? 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;...
Half of Americans aren’t paying federal income taxes. Is that right? 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...
What might happen if they went away? The debate is gaining volume. 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...
A year? Seven years? It depends. You have probably heard that you should retain copies of your federal tax returns for 7 years. Is that true, or a myth? How long should you keep those quarterly and annual statements you get about your investment accounts? And...
Historically, these events tend to help equities. You may have heard that stocks tend to rally in fall and winter. That has often been the case. In fact, the S&P 500 and the Dow have gained repeatedly after the elections occurring in the third year of...
A little “delayed gratification” may help you retire more comfortably in Michigan. 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...
Resist the temptation. Fight the urge. Fight for your future. 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...
That’s part of the plan. How will you be affected? 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...