Retirement

Guidelines and Tax Saving Tips Pertaining to Retirement Savings

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.

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

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?

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.

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?

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.

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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Are You Eating Your Retirement?

photo credit: mtungate I recently read two seemingly unrelated articles, which, when dovetailed together, become the basis for this post. The first, a recent Principal Financial Well-Being survey, indicates that less than one third of Americans are setting aside what they think they need to for retirement. The second, from the “The Culinary Review”, tabulated [...]

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What to do With $60,000

photo credit: h.koppdelaney A reader asked me the following question: “My parents, in their late 70′s, have no financial needs and a substantial emergency fund. In addition to the emergency savings, they also have $60,000 in a passbook savings account which they don’t know what to do with. They are not interested in taking much [...]

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