Money Today That Matters Tomorrow
After several years the IRS has raised Roth IRA contribution levels, along with the annually indexed income qualification levels that allow eligible contributions. This is good news for those looking for tax effective ways to manage their retirement savings. [See this article for the latest Roth IRA limits] Unlike 401(k) and Traditional …
Being the finance wonk that I am, I rather enjoy reading some of the tax advice that the big accounting firms put out for their clients. While their target audience (based on their $250 to $500 hourly fee) is clearly higher net worth individuals, you can glean some pretty useful …
The Washington Post had two graphics that neatly summarize the impacts from the fiscal cliff. This is the number one topic in the world of finance and almost all Americans will be impacted by the potential fallout in some fashion. My opinion is that Congressional Republicans and the Obama administration will reach some form …
Leveraged and Inverse Exchange Traded Funds (ETFs) have become a very popular tool for investors trying to super charge their gains from the volatility in market movements. Leveraged ETFs promise to provide a multiple of the returns on the underlying index they track. An inverse ETF on the other hand tries …
It’s that time of the year again. Open enrollment. It’s also fall, but as this is a personal finance blog, weather is not the focus. My current employer, a Fortune 500 firm, recently released their employee contribution rates (i.e health insurance premiums) for it’s employees and once again rates are …
A few weeks ago I began my search for a financial planner (or financial advisor as some prefer) to review my monetary situation and see if I am on the right track for a sound retirement. I consider myself pretty savvy when it comes to personal finance, but I think it is always good to meet …
[Updated for 2022] – See the latest IRA limits and changes in this article. The IRS has published the latest retirement plan limits following the release of Cost of Living Adjustment (COLA) figures for next year. This was the second consecutive year of increases to contribution limits, as shown in …
See this article for the latest COLA increase – https://savingtoinvest.com/social-security-tax-and-cost-of-living-adjustment-cola The Social Security Administration (SSA) confirmed that the 2013 COLA increase will be 1.7%. This means that nearly 62 million Americans will see their benefit payments increase in January 2013, with the average retiree receiving a $21 increase. As detailed in the …
This article is a follow-up to a previous one that I wrote about quantitative easing (QE), which generated a lot of debate and was even picked up by some main stream investing sites. Thanks to Andy for allowing to do a follow up guest post. In my earlier forecast I had thought the Fed …
The table below shows where your household stands, relative to others in the US population, based on how much income is earned per year. For example, if your household makes $50,000 a year you would be in the 25% percentile group of household income. At $150,000, you would be in the percentile that makes …
See the latest Capital Gains rates and exclusions in this article. _____________ [Updated following Fiscal Cliff Deal] With legislation now in place to avert the fiscal cliff many investors will be breathing a sigh of relief as the tax rates on capital gains, dividends on investments did not rise as …
Choosing the health plan that is best for you and your loved ones is a decision that deserves some undivided attention. While most Americans are used to having traditional health insurance coverage (with up front office visit and prescription benefits), many are turning to catastrophic-only health plans to open up …
A secret recording from a closed-door fund raiser had Mitt Romney saying, “47 percent of Americans believe that they are victims…I’ll never convince them they should take personal responsibility and care for their lives…My job is not to worry about [votes from] those people. These are people who pay no income tax. …
The WSJ recently published two excellent graphics which show how long $1 million of retirement savings would last based on a given rate of after-inflation growth. Definitely provides some insight into how much you will need to save and most likely you will need more than you think. Particularly if …