Retirement Through Your Eyes
If you are like many baby boomers, your view of retirement is likely pragmatic compared to that of your parents. That doesn’t mean you have to have a “plain vanilla” tomorrow. Even if your retirement savings are not as great as you would prefer, you still have great potential to design the life you want. With that in mind, here are some things to think about
The Right Beneficiary
Here’s a simple financial question: who is the beneficiary of your IRA? How about your 401(k), life insurance policy, or annuity? You may be able to answer such a question quickly and easily. Or you may be saying, “You know … I’m not totally sure.” Whatever your answer, it is smart to periodically review your beneficiary designations
IRA Rollovers for Lump-Sum Pension Payouts
If you are taking a lump sum pension payout from your former employer, what is the next step for that money? It will be integral to your retirement; how can you make it work harder for you?
IRA Contribution Limits Rise for 2013
In 2013, you can contribute up to $5,500 to your Roth or traditional IRA. If you will be 50 or older by the end of 2013, your contribution limit is actually $6,500 this year thanks to the IRS’s “catch-up” provision. The new limits represent a $500 increase from 2012 levels
Bad Money Habits to Break in 2013
Many people fall into the same financial behavior patterns year after year. If you sometimes succumb to these financial tendencies, the New Year is as good an occasion as any to alter your behavior.
Why 2013 May Be a Very Good Year
With 2013 approaching, stock market volatility seems to have increased. Equities rise on optimistic remarks about a fiscal cliff solution, then fall when another voice expresses pessimism, and vice versa. In addition to this constant seesawing, the market is contending with anxieties about Europe, with the eurozone now officially in another recession, and the strong possibility of higher taxes on capital gains and dividends in 2013 plus surtaxes on varieties of net investment income. Even so, 2013 may turn out to be a good year for stocks. Our economy looks to be healing, and that may give investors around the world more optimism.
Should You Always Withdraw from IRAs Last?
According to conventional retirement planning wisdom, you should structure your retirement withdrawals so that money comes out of your taxable accounts first, then your tax-deferred accounts, and then finally your tax-free accounts. Roughly speaking, that means withdrawing income from investment funds, CDs, money market accounts and bank accounts before taking a dime from your IRAs.
CEO of NEXT Financial on the 700 Club: Year-End Tax Tips
Watch this video for some great tax tips from the chairman & CEO of my company, Gordon D'Angelo on The 700 Club - he also talks about his New York Times best-seller "Vision: Your Pathway to Victory". These year-end financial planning tax tips will come in handy as tax season approaches in the new year.
Top 10 Reasons NOT to Plan for Retirement
You probably read or hear about some “Top Ten” list nearly every day. But take a moment to read this one. This list is different, and probably not the kind of list you’d expect a Financial Advisor to write.
Some Fiscal Cliff Scenarios
The fiscal cliff is getting closer and closer. In the worst-case scenario, Congress argues and deadlocks. Tax hikes and roughly $109 billion in federal spending cuts take a bite out of GDP and another recession becomes a possibility. There are other possibilities, however. The fiscal cliff may yet be averted, or at least we might back away from its edge. One of several scenarios might come to pass.
Overview of SIMPLE 401(k)s
What do you know about the SIMPLE 401(k)? Most business owners have heard of it, yet don’t know much about this retirement savings vehicle.
Important IRS Adjustments for 2013
The IRS has set annual contribution limits for IRAs, 401(k)s and other retirement plans higher for 2013, and made other important adjustments for inflation as well. Here is an overview of some notable changes just announced.
Annual Financial To-Do List
What financial, business or life priorities do you need to address for 2013? Now is a good time to think about the investing, saving or budgeting methods you could employ toward specific objectives. Some year-end financial moves may prove crucial to the pursuit of those goals as well.
Why You Should Keep Contributing to Your 401k
There is seldom a dull moment on Wall Street. Stocks may rise or fall dramatically over the course of a year or a decade. Sometimes, breaking news may tempt you to pull money out of your 401(k) or greatly reduce your contributions. If you’re considering such a move, think twice.
Q3 2012 Quarterly Economic Update
THE QUARTER IN BRIEF While fundamentals may not have supported a powerful rally in Q3 2012, the policy decisions of central banks certainly did. The Federal Reserve launched its third round of easing in the past four years during the quarter and the European Central Bank also embarked on a new stimulus effort. Wall Street seemed to put concerns about Europe and China and job growth on the back burner – the Dow gained 4.32% in three months. The real estate market – already looking better – got a shot in the arm from the Fed. Commodity markets heated up. Our economy still appeared lethargic, but bulls ran freely during a pleasantly surprising quarter for investors.
Stocks & Presidential Elections
Stock market historians have repeatedly analyzed market behavior in presidential election years, and what stocks do when different parties hold the reins of power in Washington. They have noticed some interesting patterns through the years which may or may not prove true for 2012.
Managing the Ups & Downs of Irregular Income
When your income stream is uneven, you must deal with some distinct financial issues. Besides cash flow, what do you do about your tax strategy? How should you try to save? If you are self-employed, what about health coverage?
In-Service 401k Withdrawals & Retirement Income Planning
Can you withdraw money from your 401(k) while you are still employed? Not everyone should; not everyone can. However, if you can, it may mean that you can effectively implement part of your retirement income plan before you retire. If your 401(k) plan permits it, you can take an in-service withdrawal and redirect some of your 401(k) funds into another investment vehicle that offers you income guarantees.
What is a Reasonable Retirement Savings Rate?
How much salary should you defer into a retirement plan? Ultimately, the answer is “however much your budget allows you to contribute”. The big-picture question, however, is whether you need to contribute more to your retirement savings in order to maintain your lifestyle after your career is done.
Why You Shouldn't Withdraw From Your 401(k)
Recently, you may have heard about a spike in 401(k) withdrawals. The evidence is not merely anecdotal. Fidelity Investments recently issued its 2010 overview of the 401(k) accounts it administers and found that 22% of participants had outstanding loans from these retirement savings plans, with the average loan at $8,650. In 2Q 2010, a record 62,000 of Fidelity’s 401(k) participants had taken hardship withdrawals – a jump from 45,000 in the preceding quarter.