Andy | Saving to Invest

How Financial Planners Charge And Understanding Their Fee Structure

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…

401k, IRA, SEP and Simple IRA Retirement Plan Contribution and Income Limits

[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…

Average Monthly Social Security Benefits Change With COLA Increase

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…

How I Think QE3 Will Affect Stock and Commodity Markets

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…

How Rich Am I Relative To Others Based on Household Income

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…

Capital Gains Tax Rates – A Double Dose of Taxes on Your Investment Returns

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…

Switching to a Catastrophic Health Plan to Supplement Your Savings and Propel Your Investments

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…

Romney to Americans Who Pay No Taxes – You Are Victims and Losers!

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.…

See How Long $1 Million Will Last in Retirement

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…

Bernanke’s QE3 Just Won Obama The Election

The Federal Reserve announced a new round of quantitative easing, known as QE3, to boost economic growth and promote employment. The stock markets and investors reacted very favorably, building on an already strong run over the last two months. The new round of quantitative easing will be executed by the…

How Our Tax Dollars Are Spent by The Government

Ever wondered where all our federal tax dollars go? I did and a recent report from the center on budget priorities and policies (CBPP) provided a very nice graphic on how federal tax dollars are distributed. With all the political rhetoric that abounds around the national debt, excessive federal spending…

Protect Your Retirement Savings Through These 4 Diversification Strategies

With ongoing volatility across global markets and an uncertain future in terms of taxes, regulations and government safety nets such as social security; diversification is key in managing the risk associated with your retirement savings. That's why these four risk diversification strategies across products and services make a lot of…

People Only Really Care About Their Personal Economy and Not The National Economy When it Comes To Voting

In a presidential campaign, you hear lots of rhetoric on the how bad the economy is (Republican viewpoint) or how things are much better than in 2008, when we were at the depths of the recession and had a different president (Democrat viewpoint). On a monthly basis, media outlets publish…

Federal Taxes as a Percentage of Household Income

An interesting study by the Congressional Budget Office (CBO) provided some very telling graphics around income distribution changes relative to which groups paid the most in taxes. Amazing how politicians can both take the same data and spin it in different ways. The first graphic shows the cumulative growth in…