From the category archives:

Retirement

5 Roth Conversion Myths

November 8, 2010

2010 is the big year for Roth Conversions. The $100,000 adjusted gross income threshold is gone forever, allowing anyone at any income level to convert their traditional IRAs to Roths. Also, for this year and this year only, Congress has made the conversion not so painful; you are allowed to report half of the [...]

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How Do You Define Wealth? Hope for the Little Guy.

November 1, 2010

Which of these two families would you consider to be wealthy? 1. Mr. and Mrs. Charles Bobbins. Charles is a forty one year old fireman. He and his wife, a secretary, have a combined annual income of $55,000 and a net worth of $460,000. Their low consumption lifestyle would enable them to sustain themselves [...]

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Five Steps Toward Automating Your Way to Wealth

September 1, 2010

Will power just doesn’t get the job done. Sure, on a day when you are feeling particularly noble you might set aside an extra $50 in your savings account or pay an extra $25 on that credit card debt. But, if you are like most of us, starting a plan and sticking with it gives [...]

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You CAN Afford That Baby – Ten Money Saving Tips

August 9, 2010

You have read those cost projections for raising children. MSN, back in 2001 projected a cost of $249,180 (over $350,000 in 2010 dollars) for a family with a $65,800 or greater income. The Baby Center web site tells us the cost of raising a child from baby to adulthood is $266,698. The Wall Street Journal [...]

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Guidelines and Tax Saving Tips Pertaining to Retirement Savings

July 28, 2010

Saving for retirement with specialized retirement plans is an excellent way to build wealth on a tax-free or tax-deferred basis. Considering that most people rely on their tax-deferred retirement accounts as income after they stop working, making a mistake can be extremely costly. Here are some retirement saving tax tips that should help you keep [...]

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Should You Roll Your 401(k) to an IRA? It’s Not A No-Brainer.

June 28, 2010

When I left my last place of employment, I rolled all of my 401(k) funds into a traditional IRA. I figured doing so was a no-brainer, but I recently read an article in Kiplinger’s Retirement Report that, while validating my decision, also gives some reasons why a rollover is not always the best course of [...]

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Social Security Strategies For Married Couples

June 23, 2010

Married couples: Social Security is complicated and don’t let anyone tell you otherwise. Is either of you (or both of you) close to retirement age? Are you wondering if you should start earlier or later? Before you decide, make sure you understand these two aspects of Social Security: “spousal benefit” and “surviving spouse benefit”. Let’s [...]

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New Study on 401(k): Failed Experiment or Solid Plan?

April 12, 2010

photo credit: pfala From its high in October 2007 through its low in March 2009, the S & P Index fell nearly 57%. Many 401(k)s likewise plummeted drastically, forcing many to delay or scale back their retirements and bringing on the chorus of “failed experiment” in describing the 401(k) strategy. But is it? A recent [...]

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Retirement Funds Tanked? Time to Redefine Your Retirement.

February 10, 2010

photo credit: pasotraspaso You have worked and planned for that glorious day when you could kick back, travel, golf, fish and simply do what you wanted. But things happened. Your 401(k) turned into a 201(k) and has grown back to a 301(k). You have learned that your nest egg is vulnerable and volatile, making your [...]

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Will Your Uncle Sam Be Dictating Your Retirement Funds?

February 8, 2010

photo credit: batsignal Have you been tracking the buzz that our government is considering the takeover of our retirement funds? There has been talk since last fall, but, according to Money Morning, this talk is leading to action. In late January, both the U.S. Treasury Department and the Department of Labor announced plans to stage a public-comment [...]

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Is Your Money an Idol? Think Twice Before Answering.

January 22, 2010

photo credit: Itinerant Tightwad 1Co 10:14 Therefore, my beloved, flee from idolatry. Surely Not Me Paul was writing to a culture where people worshipped wood and stone statues. Of course the statues weren’t innately evil, but believing they had power to do only what God can do (good weather, good crops, give children, etc.) is [...]

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