Planning Your Itemized Deductions
Tax rates, deductions, and phase outs seem to be changing constantly, making the timing of income and expenses trickier than ever. However, for most taxpayers, the mantra should continue to be: defer income and accelerate deductions. The following deduction strategies...
Thinking of Retirement – Here is the One Thing you need to do – TIME.COM
Wouldn't it be great if there was one simple thing you could do to help you better prepare for retirement and make you feel more confident about your prospects for financial security at the same time? Well, there is: Put your retirement plan in writing. Read more...
Financial Plan: Paying the Marriage Tax Penalty
When does one plus one not equal two? When it comes to paying federal income taxes. If your spouse earns significantly more than you do, you and your sweetheart enjoy what is known as the “marriage bonus.” This means that, as a couple, you are paying less in taxes...
Financial Planning: Value of Financial Advice
John Hancock's 2015 Financial Stress Survey, show that of the people surveyed, 70 percent of those who work with a financial advisor are on track or ahead in saving for retirement, versus 33 percent of those not working with an advisor. Among people who have an...
How to Analyze Your Personal Financial Budget.
How do you make sense of a personal budget? Is it about listing expenses to see where you money is going? Yes and No. Wondering if your spending your income wisely? The 50/30/20 rule will help to put meaning to your spending. The article looks at how much your income...
Basic Estate Planning: A Trust, A Will, or Both? | AIER
Similar to a will and last will and testament, a trust document details how you want your assets distributed upon your death and how to take care of your minor children financially. There are two different types of trusts: revocable and irrevocable. Your trustee will...
A Zen Approach to Long-term Investing | AIER
"There is one core tenet to my investment philosophy: Focus on important factors that you can control, and let go of the ones you can't. This will be an important driver of your long-term investment success, and you have complete control over it. Cost of investing:...
401(k) – 3 Simple Rules for the X and Y Generation.
Was your 401(k) plan (403(b) and TSP) your introduction to investing in stocks, bonds and money markets? This is the case for many people. However, what you may not have realized is that this savings vehicle is the most important account you will ever have! Often...
Can I still have a traditional IRA if I contribute to my 401(k) plan at work?
Answer: Yes. Anyone with earned income who is under age 70½ can open and contribute to a traditional IRA (Individual Retirement Account). The contribution limit is $5,500 for 2015 (unchanged from 2014), plus an additional "catch-up" contribution of $1,000 in 2014 and...
