Two federal tax reform proposals could make them less attractive. Our federal government needs to reduce its massive deficit - and among the many revenue-generating ideas being discussed in Congress, two in particular could have disturbing consequences for employees saving for retirement. There is no need to...
WEEKLY QUOTE“Life is an adventure in forgiveness.”– Norman Cousins WEEKLY TIP If 2012 is a year in which you start a business, remember three essentials to have on hand: an emergency fund, a year’s worth of operating capital and the support of your spouse or partner. WEEKLY RIDDLE They are sometimes stomped...
The 2011 changes will be followed by more in 2012 and 2013. Have you bought any stocks this year? Before you sell any of them, remember that the IRS implemented new tax basis reporting rules for equities on January 1, 2011. Under the new rules, you...
WEEKLY QUOTE“Comedy is simply a funny way of being serious.” – Peter Ustinov WEEKLY TIP About to do some holiday shopping? Try keeping your credit cards at home. The interest you save can be a financial gift to yourself. WEEKLY RIDDLE A man leaves home and makes three left turns. He comes home...
A way to give without a great deal of bureaucracy. So, you’d like to make some major charitable contributions, but you don’t want to create a family foundation - with its paperwork and management commitment and the possibility of squabbles. Is there an alternative? Yes, there is....
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....
A summary of what you need to know. Don’t wait until New Year’s to join a Medicare plan. The open enrollment period ends early this year, and many Medicare beneficiaries may not realize it. In fact, 97% of seniors in a recent poll conducted by UnitedHealthcare...
Is it all negative, or are there opportunities to consider because of the crisis? Many economists think a Greek default is inevitable. As we enter 4Q 2011, Greece has a debt-to-GDP ratio of about 160% (and that percentage is rising). While Greece accounts for less than...
A closer look at the provisional income rules. Many new retirees assume that Social Security income is tax-free. That is not always the case. The Social Security Amendments of 1983 opened the door to taxes on some SSI, depending on the amount of income someone earns...