STOP! If You Own Company Stock in your 401(k) You Need to Know About “NUA”

Do you own company stock in your 401k? Did you leave your company and are you thinking about rolling that money over into an IRA? If you are in this situation, don’t do anything until you read this article.
If you are considering rolling a 401k balance into an IRA, and you own company stock in your 401k, you need to know about the tax rules surrounding net unrealized appreciation of stock in a 401k plan. Here’s the benefit that few people know about

Placing Income Investments In Your IRA Before December 31?

With the upcoming tax increases approaching January 1, and with Congress still at a standstill about deciding who ‘deserves’ to keep their tax cut, it may pay for you to consider reallocating your investments now to maximize tax deferrals and avoid higher taxes in investment earnings. Here’s what I’m talking about Dividend tax rates will rise to

Roth Conversion: Why You Might NOT Want To

Although many clients and advisors are jumping at this opportunity (to convert Traditional IRA’s to Roth IRA’s), there are a number of factors that must be examined, including the possibility that a client will have extraordinary home assistance and medical expenses that will, in effect, be payable from taxable retirement plan accounts on a tax-free basis.

Attention Gen X & Gen Y: 4 Gaping Holes In Your Financial Plan – Part 3: No Emergency Fund

Gaping Hole Number 3 – No Emergency Fund Imagine you’re happily working at your new job, enjoying nights out with your friends, dining out, drinks and such. Your lifestyle is wonderful – then you lose your job. What will you do now? Can you cover next month’s rent? Surprisingly, many people with high paying jobs have no rainy day fund. In Thomas Stanley’s excellent book, The Millionaire Next Door, he referred to these folks with the Texas term: “Big Hat…

Attention Gen X & Gen Y: 4 Gaping Holes In Your Financial Plan – Part 2: Personal Legal Docs

Gaping Hole Number 2: No Personal Legal Documents Most young people I encounter aren’t even thinking about this when they think of personal financial planning or when they are preparing for a meeting with a financial advisor. Not being married, and not being a minor, you do not have a clear cut line to a decision maker if you were to become ill and incapacitated. Two documents to consider, are 1. a durable power of attorney: a document which appoints…

Attention Gen X & Gen Y: 4 Gaping Holes In Your Financial Plan

Attention Gen X  and Gen Y: 4 Gaping Holes In Your Financial Plan Comprehensive financial planning is a topic that often eludes younger people. Today thought, more people are thinking about planning at a younger age as they know they have to take care of themselves because with so much spending on the older generations now, there will likely be nothing but huge deficits for Gen X & Gen Y. The focus is usually on retirement planning or creating a…

Part 2: Boomers Living Alone – 5 Financial Planning Must Do’s For Singles

Continued from previous article… 4. Cost of Living Increases Mean Changes in Investment Mentality Needed For quite some time now, the economy has been adjusted for two income households or higher income earners, especially in cities like Boston, DC, New York, Seattle and San Francisco. I have noticed, at least in the Boston area, that there is a group of middle class boomers who are: Homeowners Live alone Are getting squeezed on costs from all sides Property taxes are staying high,…

Boomers Living Alone – 5 Financial Planning Must Do’s For Singles

(photo courtesy of Kevin Stryke) In a recent survey, about 45% of baby boomers worried about being alone. And chances are, with the increasing divorce rate, and surprisingly large number of people who die suddenly in their 50′s and 60′s, many boomers will be alone at least for some period of time. With all of the things that go on in the life of a busy 50 something year old – including a demanding job, watching out for your not-quite-adult…

Page 4 of 512345