Many employees have choices when it comes to retirement planning. Here are three common retirement-planning choices: A Roth 401(k) A traditional 401(k) A Roth IRA How do you decide which is best for you? Retirement Planning: Eligibility Requirements First, determine if either of the Roth options is available to you. Not all 401(k) plans have [...]
With record unemployment rates, many employees are confronting the decision of how to handle the funds in their 401(k) plan when they leave their present employment. For most employees, the choice is clear: they should take control of their retirement planning and roll it over. Here’s why: 1. Lousy investment choices. Most 401(k) plans are [...]
This is the time of year for New Year’s resolutions. When it comes to investing, I have some suggestions you might want to consider. Here they are: 1. Fire your broker. I can’t think of any reason to use the typical broker. What do I mean by “typical”? Typical brokers send you analyst reports with [...]
’Tis the season for giving. Some give money; some give time by way of volunteering. But what happens if you’re involved in an accident and injured while volunteering? Many accident disputes can be avoided if the volunteer organization takes preventative measures. If you run a nonprofit organization that relies on volunteers, look at your business [...]
In terms of taxes, 2010 was quite a roller coaster. More tax acts, encompassing more laws, were passed in 2010 than in any other year, except perhaps 1986—the year the United States Internal Revenue Code was overhauled in the Tax Reform Act. Did you have a good tax year? Did you get back as much [...]
Right about now, you’re preoccupied with holiday parties, gift wrapping, Secret Santas, and where you’re going to spend your Christmas break, if you get one. The last thing you want to think about is taxes. So let’s make this as painless as possible. Here is a checklist of things to do this week. Get all [...]
You would think that after the Bernie Madoff scandal was exposed, the era of Ponzi scammers would come to an end. Sadly, this is not the case. Recently, former Denver Broncos quarterback John Elway and his business manager were scammed out of $15 million in a massive Ponzi scheme. The Colorado district attorney alleges that [...]
My husband told me about a friend of his who’s been claiming “married with nine exemptions” all year. He needed the cash. Jose just submitted a change to single with 0 exemptions at the beginning of November to catch up. Is that a good idea? Uh….No! Tax Withholding Roulette Most companies require about ten to [...]
Whenever I talk about IRAs and estate planning, I can almost see the numbness come over my audience. I can understand why confronting your own mortality comes well behind the name of the latest contestant to be kicked off Dancing with the Stars on the interest scale. But one aspect of IRAs is genuinely exciting, [...]
Aah….This time of year is filled with generosity. Even curmudgeons are infected with the holiday spirit. Remember, however, that not everyone is enjoying this season’s largess. This year and last, many people’s lives have fallen apart. People who used to be your neighbors or coworkers—or even you—are now out of work, clutching at unemployment checks, [...]
