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PERSONAL FINANCE

The Major Ways To Protect Your Assets Against Claims

By The BIDaWIZ Team on November 9th, 2012 at 5:00 pm

There is absolutely no full-proof way to protect yourself and your assets against all types of claims set forth against you. However, you can take specific steps to protect yourself by making it difficult and costly for a creditor to obtain all of your assets. .
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PERSONAL FINANCE

A New And More Affordable Student Loan Program

By The BIDaWIZ Team on November 6th, 2012 at 6:00 pm

This may be music to the ears of recent graduates that are encumbered with student loan debt. The U.S. Department of Education recently released the final regulations for President Barack Obama's "Pay as You Earn" student loan program. This program is designed to help lower the now $1 trillion of federal student loans that are outstanding, which is greater than all of the credit card debt owed by borrowers. Find out how this program works. .
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INVESTING

How Much Should I Withdraw From My Retirement Account Annually?

By The BIDaWIZ Team on November 2nd, 2012 at 5:45 pm

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Many baby boomers are already retiring or will do so within the next ten to fifteen years. One of the questions that retirees frequently ask themselves is, "Am I withdrawing the correct amount of funds from my retirement account each year?" If they withdraw too much, they won't have enough money to last them through retirement. If you withdraw too little, then they'll find themselves having difficulty maintaining a budget. It's a constant balancing act. One school of thought suggests that retirees withdraw about 4-5% annually. .
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INSURANCE

Storm Victims Need To Be Aware of Hurricane Deductibles

By The BIDaWIZ Team on November 2nd, 2012 at 3:00 pm

Most homeowners with an insurance policy are aware that they have to meet their deductible before the insurance company will cover any damage. However, few are aware that insurance policies include a separate provision for hurricanes. What does this mean for those affected by Sandy? Read More.

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INSURANCE

Getting Your Hurricane Sandy Insurance Claims Paid Quickly

By The BIDaWIZ Team on November 1st, 2012 at 8:00 pm

Contrary to Hurricane Irene, Sandy left the Mid-Atlantic states with catastrophic damage. The areas hit the worst include New Jersey, New York & Connecticut. Initial estimates indicate that the total damages could exceed $50 billion, which would rank among the second costliest storms in U.S. history; behind Hurricane Katrina. Given the significant loss, many affected families are going to be submitting insurance claims very shortly, if they haven’t already done so. What can you do to increase the chances that your claim is paid quickly? Read More.

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INSURANCE, TAX PLANNING

Are Insurance Proceeds From Hurricane Sandy Taxable?

By The BIDaWIZ Team on November 1st, 2012 at 10:00 am
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Hurricane Sandy was a major blow for several homeowners and businesses. The losses are unprecendented for the region and will trigger an excessive number of insurance claims. It’s important to understand the tax ramifications, if any, for receiving an insurance settlement on a claim. Read More.

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INVESTING, TAX PLANNING

Should I Still Contribute To My 401K When I’m Older?

By The BIDaWIZ Team on October 19th, 2012 at 6:30 pm

Many of the 75 million individuals in the baby boomer population are already in their 60s or will be so within the next 12 years. One of the questions that they need to be asking themselves is, "What should I do with my 401(K) when I reach retirement age?" Of course, the answer to this question is somewhat dependent on their future employment status. .
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CREDIT CARDS

Should I Sell My Car to Payoff Credit Card Debt And Lease One Instead?

By The BIDaWIZ Team on October 12th, 2012 at 6:30 pm

The average household still carries over $7,000 of credit card debt, with many above ten thousand. Credit card debt is perhaps one of the worst types of debt to carry as interest rates are typically high at 15%-20%. One option that debtors may want to consider to lighten the load, is sell their car and lease one instead. Is this a smart decision for you? .
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INVESTING, TAX REPORTING

Do You Know What the Fees Are For Your 401(K) Plan Now?

By The BIDaWIZ Team on October 11th, 2012 at 8:00 pm

Back in May, we noted that the new 401(k) disclosure rules would be in effect by the end of the summer. The intent of these rules was to provide greater transparency to both employers and employees. Did it work and have you noticed a difference in the reporting? Read More.

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CREDIT CARDS

Should I Withdraw From My IRA or 401K to Pay Down Debt?

By The BIDaWIZ Team on September 28th, 2012 at 3:30 pm

This is a common question that frequently crosses our desk. Individuals with credit card debt often consider withdrawing from their retirement accounts to pay down debt. While this may seem like a simple decision, there are many factors and costs to consider before withdrawing. Read More.

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