Conventional wisdom says yes, but there are exceptions. Shouldn’t you delay IRA distributions for as long as you can? According to conventional retirement planning wisdom, you should structure your retirement withdrawals so that money comes out of your taxable accounts first, then your tax-deferred accounts, and...
Behaviors worth changing for the New Year. Do bad money habits constrain your financial progress? Many people fall into the same financial behavior patterns year after year. If you sometimes succumb to these financial tendencies, the New Year is as good an occasion as any to...
WEEKLY QUOTE “The only limit to our realization of tomorrow will be our doubts of today.” - George Washington WEEKLY TIP Many people confuse Medicaid with Medicare. If you aren’t yet a senior, read up on both of these programs to learn the benefits they provide and the distinctions...
SBOs are taking a new look at old-school defined benefit plans. Contrary to popular belief, classic pension plans have not disappeared. Corporations have mostly jettisoned them, but highly profitable small businesses are giving them a second look. Why are small business owners deciding to adopt old-school,...
WEEKLY QUOTE“Growth itself contains the germ of happiness.” - Pearl S. Buck WEEKLY TIP Do your money decisions reflect your values? If they don’t, you can wind up conflicted, stressed out and unhappy. WEEKLY RIDDLE It is found in the ground, round as a circle and yards deeper than a...
WEEKLY QUOTE“The road to someday leads to a town of nowhere.” - Tony Robbins WEEKLY TIP Remember that you can give gifts of a present interest of up to $13,000 to anyone in 2012 without incurring federal gift tax. (For the 2012 tax year, the lifetime gift...
Different ways to respond to the challenge. As you retire, there are variables you can’t control; investment performance and fate are certainly toward the top of the list. Your approach to withdrawing and preserving your retirement savings, however, may give you more control over your financial...
WEEKLY QUOTE“The first time someone shows you who they are, believe them.” - Maya Angelou WEEKLY TIP The “buy now, pay later” mentality is a path to excessive debt. Save now and buy later instead. WEEKLY RIDDLE What do the letter T and an island have in common? ...
How will Congress resolve these issues? Decisions must be made. In the next couple of months, Congress will address several major tax matters. Here are the big questions looming. The Bush-era income tax cuts. Will the current 10%-15%-25%-28%-33%-35% federal tax rate structure give way to 15%-28%-31%-36%-39.6% tax...
What could play out in the near future? Will 2013 be as severe as some economists think? The fiscal cliff is getting closer and closer. How will Congress respond? In the worst-case scenario, Congress argues and deadlocks. Tax hikes and roughly $109 billion in federal spending cuts...