Retirement Planning – SBLI Sharing Advice with Baby Boomers

If you are one of America’s 78.2 million baby boomers, you are likely considering what ideal retirement will look like, and the steps required to achieve it. With the current economic downturn, many boomers are finding it necessary to revisit their initial retirement goals.
Consider the following ABC’s of retirement planning:
A: assess your financial plan [...]

2010 Roth IRA Rules change

Beginning Jan. 1, 2010, anyone, no matter their Modified Adjusted Gross Income or their tax filing status, will be eligible to convert their Traditional SEP, SIMPLE (after two years) IRA or employer sponsored retirement plan to a Roth IRA.

This change is especially welcomed by many investors (with a MAGI over $100,000) who have been restricted [...]

Personal Finance – Worried about your bank? Move your money

Q. I am currently banking with a local bank. I am certain the Federal Deposit Insurance Corp. will take over that bank very soon. I have $200,000 in a personal account held jointly with my wife, as well as two business accounts for a limited liability company that have about $60,000 in each account.
Should I [...]

Personal Finance : Lost your job? Don’t cash out your 401 (k)

Millions of workers take a huge chance with their retirement savings every year by cashing out their 401(k) accounts when they lose their jobs or move to new employers.
When people cash out, a chunk of their money just disappears.
Employers and financial advisers have warned workers about the possibility of retiring poor, something that’s more likely [...]

Personal Finance : Savings junkie at 24 years old

Question: I’m 24 years old and feel like I’ve become a savings junkie. I’ve already maxed out my Roth 401(k) contribution for this year and now I’m thinking about opening up an IRA too. I have no debt, and I have about $13,000 in other savings as well. What do you think — should I [...]

3 Ways Obama’s Saving Initiatives Will Affect Your Retirement

President Obama announced several new federal initiatives to promote retirement savings today. “I’ve heard from so many who’ve had to put off retirement, or come out of retirement, to make ends meet,” Obama said during his weekly radio address today. “And having too little in savings not only leaves people financially ill-prepared for retirement, but [...]

Online tools help seniors plan for retirement

Some of the best retirement planning tools and calculators on the Web today are offered through large financial service companies. While the purpose of these tools is to entice new business, most companies don’t require you to be a client or purchase their products to use them. Here are four dandy sites to use (try [...]

What about Taxes and Your Second Mortgage?

For the typical consumer who has managed to acquire credit card debt, automobile loans, and different other small debts, is the second mortgage loan an answer for the consolidation of debt and a tax reduction? Rather often the answer to this question is yes. Second mortgages that have traditionally been used in areas of home [...]

Recovering from Investment and Retirement Portfolio Losses

Many baby boomers suffered severe losses in their portfolio of retirement investments. Now we want to know the best ways for recovering from those losses. Some are conventional and passive. Others will take some work. All are worth considering.
Investment Strategy 1. Re-evaluate Your Asset Allocation. This strategy means understanding your investment goals – including your [...]

Financial Planning And Interest Only Mortgages

Financial Planning, 401(k) s, Retirement Funds, etc.
As you get older you do become more cautious in your investments, with your time and your money. Interest only mortgages are one of those options, that if you’re investing in real estate for the short term, and you’ve consulted with a trustworthy financial advisor, you might want to [...]

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