Starting next year, the federal government will require providers of 401(k) plans to reveal information about the fees and expenses connected with each plan. According to the U.S. Department of Labor, more than 70 million Americans are covered by participant-directed plans, which require individuals to decide for themselves how to allocate their investment dollars. Read More.
Congress’s passage last month of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, commonly known as the extension of the Bush tax cuts, will bring one big change for taxpayers: an extra 2 percent in your pocket from the reduction in the Social Security tax. The tax drops from 6.2 percent to 4.2 percent for all wages earned, up to $106,800. Read More.
Face it, things have changed. A new baby means new responsibilities which includes setting up a financial plan for the child. Too many new parents are so focused on the present that they fail to setup a financial plan for their child’s future. Big Mistake! Here’s what you can do to start fixing this problem. Read More.
For those of you that aren’t aware, starting in 2010, traditional IRA holders will be able to convert into a Roth IRA, even if your household earns over $100,000 in modified adjusted gross income a year. Currently, traditional IRA holders can only convert if their modified adjusted gross income for the year is under $100,000 (refer to IRS Publication 590). Read More.
Recently married and having trouble organizing your finances with your spouse? You are in luck! We have put together a top 10 financial to do list for newlyweds to use as a reference. Read More.
We all have heard of the saying that desperate times require desperate measures (Hamlet) but in these difficult times many should re-consider liquidating their IRAs. Read More.
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