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INVESTING, TAX PLANNING

The Tax Consequences For Inheriting A Relative’s IRA

By The BIDaWIZ Team on June 26th, 2012 at 8:00 pm

The tax rules can be very confusing when inherited IRAs come into the picture. There are many exceptions to the withdrawal rules and some financial professionals do not even understand them all. Make sure you're not receiving incomplete or inaccurate advice. .
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INVESTING, TAX PLANNING

Moving Your IRA Assets From One Financial Institution To Another

By The BIDaWIZ Team on June 26th, 2012 at 5:00 pm

Now may be the time to move your IRA assets from one financial institution to another. This is a fairly straightforward process, yet, many financial institutions are notorious for providing limited and sometimes inaccurate information for rolling over or transferring IRA funds. Mistakes can be costly and may trigger an unexpected taxable event. .
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INSURANCE

You May Be Eligible For a Health Insurance Rebate Check

By The BIDaWIZ Team on June 22nd, 2012 at 4:00 pm

About 12.8 million insured Americans will receive a health care rebate check of $151 per family by August 1, 2012. The rebate is in response to the Affordable Care Act's 80/20 rule in which insurance companies must use at least 80% of the premium for medical care and quality improvement. Find out if you're eligible for the rebate. .
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PERSONAL FINANCE

Costs to Avoid When Purchasing a New Car

By The BIDaWIZ Team on June 20th, 2012 at 7:00 pm

The automobile industry is back on track with vehicle unit sales up 20-25% for both cars and SUVs. Consumers in the market for a new vehicle need to be on the look out for aggressive sales professionals that try to sell you more than you need. .
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BANKING

Should I Be Interested in Online Banks For Their Savings Rates?

By The BIDaWIZ Team on June 20th, 2012 at 2:00 pm

Online banks typically offer higher rates than their brick and mortar counterparts. In this low interest rate environment, savers have been hit hard by earning close to no interest income. In fact, if you compare the real rate of inflation to the interest rates offered by most banks, savers are likely losing money. So, should you open an account with one of the online banks? .
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BUDGETING

The Rising Cost of Raising Children

By The BIDaWIZ Team on June 15th, 2012 at 2:00 pm

Children provide parents with some of the greatest joys in life. Unfortunately, many parents underestimate the financial costs of raising children which are on the rise like everything else these days (i.e. college tuition). Let’s find out how much we can expect to pay in child related costs over the years. Read More.

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INVESTING

Should Retirees Take a Lump Sum Pension Payment?

By The BIDaWIZ Team on June 15th, 2012 at 12:00 pm

Many companies are providing their retired employees with the option of receiving a lump sum pension payment as opposed to monthly checks. There are arguments supporting both options. .
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CREDIT CARDS

Should I Close My Old Credit Cards?

By The BIDaWIZ Team on June 14th, 2012 at 11:00 pm

Over the years, you may have accumulated several credit cards ranging from traditional ones to those issued by gasoline companies and department stores. Some of those cards may hardly be used since you only opened those accounts for the original discounts. Now, you are thinking about closing the accounts for a few cards. Before you do this, act with caution. Read More.

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INVESTING, TAX PLANNING

Discussing Estate Planning And Wills With Your Parents

By The BIDaWIZ Team on June 13th, 2012 at 6:00 pm

Baby boomers and those from Generation X likely have parents that are reaching the later stages of their lives. One of the more important conversations that sometimes doesn't happen until after the fact, relates to the distribution of a parent's estate and assets when they are no longer around. There are certain ways to start this sensitive conversation and key areas to discuss. .
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INVESTING

Should I Open a Prepaid Tuition Plan or 529 Plan?

By The BIDaWIZ Team on June 8th, 2012 at 5:00 pm

Saving for college can feel like a daunting task these days with rising tuition costs and outstanding student debt now exceeding one trillion dollars. The average student is now holding at least $25,000 of debt which makes proper planning all the more important now. How can you prepare better for rising tuition costs? .
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