There have been several tax law changes during 2018 that are affecting Individual Retirement Arrangement (IRA) planning strategies for 2018. This column reviews five of these strategies.
Many of you have a retirement strategy that is simply not going to work. Too many of you are counting on Social Security Benefits to see you through your retirement years. Social Security was established to cover only 40% of your retirement income. The remaining 60% is up to you. Some of you might think […]
Howard Hughes was once asked, “How much is enough?” (referring to his billions of dollars). Hughes’ reply was, “Just a little bit more.” You see as humans we are never satisfied with what we have. We always want just a little bit more. When you receive your paycheck, you might wish you had a little […]
Let me tell you why you should save and then invest. Saving and investing are not quite the same. Yes, you do put money away and earn interest or dividends. However, when you save money, you want to be able to have it readily available. In other words, it should be a liquid asset. Liquid […]
The financial advantage of youth over an older adult is time. If you start investing at a young age and keep investing, by the time you are ready to retire, you should have built-up a comfortable amount in your retirement account, provided that you do not withdraw money from your retirement savings to pay down […]
What do I mean by the question, “Are you living for today?” It’s quite simple really. What I am asking is if you are living only in the present financially and forgetting about your financial future. You simply cannot afford to ignore your future. Don’t make financial decisions today that will affect your tomorrows. Let’s […]
If your employer offers to match your 401(k) and you do not take advantage of the program, you are throwing away money each paycheck! You need to contribute money up to the match in your 401(k). If you are a federal government employee and are not putting money into your FERS retirement up to the […]
IRA stands for Individual Retirement Arrangements. It’s a savings account with big tax breaks. Thus, making it an ideal way to save cash for your retirement. An IRA itself is not an investment. It’s just the “basket” in which you keep stocks, bonds, mutual funds and other assets. In 2011, you can contribute up to […]