What do you do when you inherit an IRA? Good question. Most people don’t know the rules and regulations pertaining to inherited IRA assets. You should. You, not the IRS, should benefit the most in this circumstance. Will my income taxes soar this year as a result? Not necessarily. If you roll the assets into […]
Don’t miss the IRA contribution deadline! Make sure you make your 2008 IRA contribution before April 15! With share prices at historic lows, fully funding your IRA for 2008 (and 2009) could mean a tremendous boost toward saving for retirement. Times are tough, but remember: the goal is to buy low and sell high! Anyone […]
If you’re laid off, what happens to your retirement money? Well, you have three basic choices with your 401(k). One gives you more freedom and control than the other two. You could just leave your 401(k) alone. The money will remain invested, and the financial firm handling your 401(k) will keep mailing you quarterly statements […]
What has the Troubled Asset Relief Program (TARP) done for the financial sector? How was the first half of the TARP money spent? Where will the second half go? It’s time for a quick peek at TARP past, present and future. Where the money went. Approximately $90 billion of the first $350 billion in TARP […]
You don’t have to take RMDs from your traditional IRA this year. On December 23, President Bush signed the Worker, Retiree, and Employer Recovery Act of 2008 into law, suspending all Required Minimum Distributions (RMDs) from IRAs, 401(k)s and 403(b)s for 2009.1 This is sweet relief for people 70? or older, especially people that don’t […]
When an investor or financial advisor thinks about diversification, it is generally with market risk in mind. It’s worth remembering that there are other potential risks to your money ? and diversification can be valuable in helping you cope with them. Business risk. Even today, there are people who have worked for one company for […]
Does money actually buy a degree of happiness? In this recessionary holiday season, it is worth thinking about the effect money has on our lives. What role does money play in our happiness? Is that role overrated? Most psychologists and sociologists will tell you that our happiness comes largely from social interaction. But studies indicate […]
What causes a recession? Recessions are ultimately a product of excess capacity in an economy ? a condition where you have more supply than demand. Economic sectors grow steadily to meet years of increasing demand, but then when demand falls, there are economic downturns and layoffs and sectors contract. Many economists trace our current recession […]
Even though this has been a poor year for the market, you may realize short-term capital gains. What do you do about them? You could do what many savvy investors do ? you could ‘cash in your losses? and practice tax loss harvesting. Selling losers to offset winners. Tax loss harvesting means taking capital losses […]
Do you own multiple IRAs? Many people do. You may have started your first IRA all the way back in the 1970s. Maybe you started a Roth IRA in the late 1990s when that option became available. Perhaps you have an IRA CD or an IRA money market account at a bank. Or perhaps you’ve […]