How To Take Money Out Of Your Retirement Plan And Avoid The 10% Penalty Tax
Thursday, September 2nd, 2010
Most people know that if they take money out of an IRA before turning age 591/2, they have to pay a 10% penalty tax on the money. But did you know that there are actually some exceptions to the tax code? If you follow them to the tee, you can pull money out of your retirement account and avoid the 10% penalty tax. Here’s how; If you ...read moreThe Hidden Costs Of Your 401k !!!
Wednesday, September 1st, 2010
Most people think that as an employee participating in their company’s 401k plan, that there are no costs to them for their account. Some of the costs are paid by the employer, but some are also paid by the employee, they just don’t ‘see the costs’ deducted from their account! 401K retirement plans are sold by different types of vendors. Sometimes ...read moreShould You Listen To The Economic “Experts?”
Tuesday, August 17th, 2010
I am a financial expert. People turn to me for advice. But I will be the first to tell you I certainly have no way of knowing what’s next in terms of where the market is headed in the near future. And I want to remind you to avoid anyone who says or thinks they do. Everybody’s got an opinion. Everybody can back it up ...read moreIs The Economy Really Recovering?
Tuesday, August 10th, 2010
After a rocky period, right now the US economy seems to finally be doing better. Corporate profits the first quarter of 2010 increased to almost $117 billion over the fourth quarter of 2009, when corporate profits were almost $109 billion. We don’t have the results in for the second quarter just yet, but corporate profits certainly seem like they’re starting to increase. Which means things ...read moreWhy You Should Own Your Own Home Free and Clear
Friday, July 30th, 2010
From my experiences over the last couple of decades, I’ve observed that folks tend to have a less stressful and more worry free retirement when they don’t have the burden of debt in their life. Which is why I believe your ultimate goal should be to own your home free and clear at or before retirement. But occasionally, I get challenged on that concept on one ...read more4 Big Mistakes People Make Hiring A Financial Advisor
Friday, July 16th, 2010
I get a lot of calls and emails from people who aren’t happy with their investments – people who were led in a certain direction by a financial advisor, only to learn later on they didn’t have all the information they needed to choose the best financial advisor for them. The fact is, there are a lot of people out there calling themselves financial advisors, but sometimes ...read more4 Little Known Strategies To Boost Your Social Security Income
Thursday, July 1st, 2010
Whether you are collecting social security benefits now or looking forward to that day at some point in the future, there are some options a lot of people just aren’t aware of. They may or may not apply to you -- everybody’s situation is different – but they’re good to know about in case one of these strategies might be appropriate for you. The first strategy is ...read moreHow To Make Even More Money With Your Favorite Stock!
Wednesday, June 16th, 2010
Do you have a stock – a favorite company that you are partial to -- that you don’t want to get rid of regardless of what all the research or tea leaves might be indicating? We call this stock a legacy holding. If you have this kind of relationship with a favorite stock or two, then read on for some advice on how to make money – or at ...read moreHow Much Money Can You Safely Withdraw From Your Investments?
Friday, May 28th, 2010
It’s a common misconception -- that in order to have enough money to get through the rest of your life, you want a withdrawal rate of no more than 4-6% of your investment account(s). Maybe you are following this so-called rule right now. I don’t argue with the science or research behind the 4-6% rule. However, when you apply it to the real world; I think it is ...read moreThe Single Biggest Money Mistake Couples Make
Monday, May 17th, 2010
Years ago, I got a phone call from a gentleman, and the moment he called, I knew without a doubt something was wrong. How? Because this man had never taken an interest in his and his wife’s finances – he had delegated the job to her, and he never dealt with it. She and I would meet every two or three years. She ...read moreWill The Uptrend In The US Stock Market Continue?
Friday, April 30th, 2010
It seemed like the markets started off 2010 very similar to last year. Not quite as stressed out, but January and February were not, shall we say, stellar in terms of market performance. And then in March things came roaring back with a vengeance. So of course the big question now is, “Will the up trend continue?” It’s amazing what has transpired over the ...read moreNot Once, In 10 years, Did She Get A Single Sell Recommendation!
Monday, April 19th, 2010
Well, our friends in Washington DC pulled another fast one. No, I’m not talking about Obamacare. There’s a bill making the rounds in Congress called the “Restoring American Financial Stability Act of 2010”. There was also an ‘add on’ bill called the Financial Planners Act of 2010 that would have required anyone who held themselves out as a financial planner to register with a financial planner oversight board, ...read moreHope Springs Eternal…Even After Obamacare Has “Passed”
Tuesday, April 13th, 2010
In case you’re wondering, I’m not a fan of Obamacare. Even though it’s gone through, I’m still the eternal optimist. Here’s why. Some of you may remember over 10 years ago, Congress pushed through a tax that was referred to as the “Medicare Sur-Tax”. It affected people who were already receiving Medicare benefits and whose incomes were above a certain threshold amount – the number escapes ...read moreHow Much Of Your Money Is Going To Those Fat-Cat Wall Street Bonuses?
Wednesday, April 7th, 2010
We keep hearing stories about all those big Wall Street brokerage firms giving out multi-million dollar bonuses. I’ve even heard of a secretary getting a bonus of over $200,000! So how do you know if it’s happening to your money, and what can you do, if anything, to prevent it? The problem starts with where you’re getting your investment advice – especially if it’s from ...read moreReal Estate – Is It Time To Buy Yet?
Monday, April 5th, 2010
Depending on where you are in America right now, real estate might look like a very tempting investment. Across the board, housing prices have dropped by 50% or more, and interest rates have never been lower in our lifetime. What could possibly be bad about taking some money and putting it back in the housing market right now? Unfortunately, quite a few things can be bad. ...read moreOne Of The Best Gifts You’ll Ever Give Your Family!
Wednesday, March 31st, 2010
No one really likes to talk about death – especially with our families. It’s not exactly a way to lighten the mood at Dad’s birthday party or your child’s graduation. So we talk about football or swap recipes instead. The problem is, when we don’t talk about what we want, or what we’re planning, or what’s going to happen after we go, it all remains a mystery ...read moreINSIDE THE INHERITANCE TAX MESS
Monday, March 8th, 2010
I think by now most of you have heard that there’s no inheritance tax or estate tax this year. So if you’re planning on passing away anytime soon, this would be a good year to do it -- at least from an estate planning point of view. I’m kidding, of course. But in case you decide to take me seriously, you should know there’s ...read moreBond Strategies in a Rising Interest Rate Environment
Monday, February 22nd, 2010
It seems to me like we’ve been getting more and more calls and inquiries about the concern over bonds. People are wondering how they are going to perform when interest rates start to go up. In general terms, when we put bonds into someone’s investment account, we are buying an individual bond, and we intend to hold that bond until it matures or it’s called by ...read more