Two-thirds of us have no financial plan for retirement. 64% of Americans have no retirement financial strategy at all. That’s right – no plan whatsoever to build wealth or keep it . That finding comes from the 2009 National Consumer Survey on Personal Finance conducted by...
While the idea of retirement has changed, certain financial assumptions haven’t. 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....
Plan to avoid these common money blunders. A recent survey found that over 60% of women feel they are better at handling money than men are.1 However, married women sometimes find themselves in perplexing financial situations – conditions that might be avoided with a little planning...
Rounding up the rankings of places to be (and not to be) financially. Do you live in one of the worst tax states for retirees? Are you fortunate enough to live in one of the best states to do business? Here is a roundup of the...
Seemingly insignificant charges in retirement plans can add up. So much fine print goes unread. Few people realize how significantly 401(k) account fees can impact their retirement savings efforts. AARP recently conducted a poll of 401(k) participants and the results were eye-opening: 71% incorrectly assumed that...
Some tax consequences to remember. There are times when people really need money – and in those times, a retirement account may seem like a conveniently liquid resource to tap. What’s the harm in taking an early distribution from a tax-deferred retirement plan? Well, the tax...
Coming your way: some of the most significant changes in 30 years. The Department of Labor has promised to update the retirement plan landscape. Three major rule changes are scheduled for the near future. All retirement plan fiduciaries and administrators should be aware of them. #1: “Covered...
If you’re going to say “I do”, here are some things you might want to do. 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...
Killing Several Birds with One Stone. In planning for your retirement, you may face several financial issues. Maybe you’d like to generate retirement income, but don’t want to pay capital gains tax on investments you’ve held for several years. Perhaps you’d like to minimize your income...
Little details you need to know about. What’s new? Every year brings changes in tax law, and some of these revisions always seen to affect IRAs. Here is a look at some of the new wrinkles for 2011. You can’t defer income resulting from a Roth IRA...