bank rates credit cards insurance finance calculators

« Archive for the ‘Retirement’ Category

IRA CDs Offer Protection, Complications

I’ve been dealing with IRA CDs for about two years now, learning as I go along. No doubt these accounts represent a good way for the risk-averse, like me, to preserve accumulated retirement nest eggs while realizing a modest return. FDIC insurance, up to $250,000, is available, separate from other personal accounts. Opening certificates of […]

How To Make The Call On Converting IRAs

Let’s see if we can take some of the anxiety out of deciding whether it’s smart to convert your traditional IRA to Roth IRAs this year. It’s a good move for younger savers who are a long way from retirement and can expect to be making more in retirement than they are in their late […]

Time To Ramp Up Your Retirement Savings

With the recession over and CD rates at record lows, this seems like the right time to divert more savings into a 401(k) plan. If you haven’t been laid off by now, you probably won’t be. So you can risk tying-up more money in long-term savings. And you’ll probably save more on your taxes than […]

Roll your savings into an IRA or 401(k)?

It’s easy to just leave retirement savings in a 401(k) account at a former employer. In fact, 43% of the 401(k) assets owned by workers who left their jobs in the first quarter of 2008 were still with their former employers a year later, according to a recent Charles Schwab study. But there are some […]

Take advantage of the bear market…

… To convert your traditional IRA to a Roth IRA. This is one of the few, small advantages we can think of to the big decline in stock and mutual fund prices. Since you contributed pre-tax dollars to a traditional IRA, you must pay ordinary income taxes on your contributions and any earnings when you […]

Boomers head toward poor house

A new report shows just how badly baby boomers have been hurt by the collapse of the housing and stock markets just a few years before they should be retiring. The Center for Economic and Policy Research recently looked at how much wealth boomers lost from 2004 to 2009. It found that many baby boomers […]

Understanding the Probate Process

You’ve worked hard all of your life to provide for your family and loved ones. Now you can relax, knowing that they will be taken care of once you’re gone. Or will they? If you are assuming that your assets and personal effects will automatically go to your spouse, you may be in for a […]

Avoid paying penalties on your withdrawals

Millions of Americans that save money in their IRAs or qualified plans have no intention of withdrawing that money until after they reach age 59 ½. Unfortunately, there are times when circumstances dictate that this is absolutely necessary. Any number of of misfortunes, such as medical expenses from an uninsured accident or an extended period […]

Use COLA riders to keep pace with inflation

For millions of Americans, fixed annuities provide safety of principal, tax deferral and higher rates than those offered by banks and other traditional savings institutions. However, one disadvantage inherent in most fixed annuity products is their inability to keep up with inflation over the long term. For example, assume that you invest $100,000 into a […]

Motivate Your Heirs w/ an Incentive Trust

Like most Americans with assets that they intend to leave to their heirs, you have worked hard to accumulate what you have. And while you can feel good about leaving your designated heirs with a financial legacy, you may have some reservations about their ability to use their inheritances wisely. One way that you help […]

Choose long-term equity indexed annuities wisely

The last several years have seen an explosion in the equity-indexed annuity arena, with a growing number of companies offering more and more products in this category. But while these hybrid annuities can provide many benefits to investors for whom they are suitable, they can also pose some risks to those that do not understand […]

When is permanent insurance really necessary?

For millions of Americans, the choice between term and permanent insurance can be a confusing one. A number of variables factor in to whether one is more appropriate than the other for most consumers, such as debt level, health and longevity, and the size of one’s estate. There are a number of arguments on both […]

Write Covered Calls to Increase Your IRA Income

Many investors are constantly looking for ways to increase their investment returns, particulary in their IRA accounts. Those who have stock in their IRAs can use a simple option trading strategy to increase the returns they are getting from their stock holdings. This strategy, known as covered call writing, is a conservative way to generate […]

1035 Exchanges Avoid the Tax Man

Like most other Americans that are saving for retirement, you probably need to make adjustments in your investment or retirement portfolio from time to time. Of course, making these changes will have tax consequences, unless they happen inside a tax-deferred account or plan. However, if you own any type of life insurance or annuity, then […]

The Benefits of Beneficiary Restriction Options

If you are like millions of other Americans, you are working hard to save money for your retirement, and perhaps also to leave a legacy for your heirs. But of course, while any beneficiary is likely to appreciate receiving an inheritance, some beneficiaries are obviously much more capable of managing their money than others. Some […]

Deciding Whether to Take Early Social Security?

Your last Social Security statement contained three key numbers that you may still not know which is best to pick. One number was the benefit amount you will receive at age 62; the second was your benefit amount at your normal retirement age and the third was the amount you will receive if you work […]

Roll Your IRA into a Qualified Plan

Although the IRS has allowed for tax-free rollovers from one IRA to another or from a qualified plan to an IRA for years, the Economic Growth and Tax Relief Reconciliation Act of 2001 added a new provision: a direct rollover from a self-directed IRA into a qualified plan. This new directive has created several opportunities […]

Choosing a Financial Planner Is A Matter of Trust

When asked what the most important factor is when choosing a financial planner, the majority of those who responded listed trust as the overriding characteristic. But how do you judge trustworthiness? Some financial service firms might present their experience and assets under management to convey their commitment to building trust with potential clients. But long […]

You’ve Reached Age 70 ½. Can You Still Contribute to an IRA?

Many clients who are over age 70½ ask us if they can still make contributions to their Individual Retirement Accounts (IRAs) — and if so, what the maximum amount they can deposit is. The answer depends upon your individual situation.

Is a Roth IRA Right for You?

If you’re looking for a sound long-term investment, then you’ve come to the right place. Below, I’ve listed a number of key points as to why a Roth IRA might be for you. Earnings are Completely Tax Free A Roth IRA offers something that no other other retirement plan offers, the ability to withdraw your […]

How to Open a Roth IRA

Pensions today are not always what they seem to be and often you can save for years, only to find that you have not been saving enough. There are options available to you however, and one of them is a Roth IRA. IRA stands for Individual Retirement Account and it basically allows you to save […]

Short Term IRA (Invesment Retirement Accounts)

Acronym for “Savings Incentive Matching Plan for Employees – Individual Retirement Annuities.” It is an employer-provided salary-reduction retirement plan that small employers are qualified to offer to their employees. In this system, the employer matches the contribution of the employee within 3% of the compensation. The employer may also choose to pay a contribution of […]