You are all aware of the devastating hurricanes that hit Texas, the Gulf and the ones that were, as of the deadline of this article, devastating the Caribbean and soon to hit Florida. You also may notice the many requests for financial aid from many sources. Please remember if it sounds too good to be true, it is too good to be true.Read More
To build a credit rating, you have to have at least one credit card account for at least six months and have your activity reporting to the credit bureaus. If you are just starting out you may need to get a secured credit card. This is a card backed up by a cash deposit you put up.Read More
You work all year earning a living and then in April of the next year the government comes calling and asking you to contribute to their coffers. You and or your certified public accountant are obliged to gather information and details of your income and outgo.Read More
This is where you start out on your journey to retirement. Most experts say you start planning your financial future when you get your first job and first paycheck. For the best chance to retire when you want and with what you want, strongly consider getting serious now.Read More
How old are you today? Have you started a serious savings plan and implemented it yet? How many years do you have until you will or want to retire comfortably? Have you thought about or created a balance sheet and budget? If not now, when?Read More
Credit cards are very convenient and they are also a problem if not used carefully. If you have a huge credit card balance, sit down and think carefully how you got into this situation and work out a game plan to reduce your credit card debt and not get into this situation again.Read More
Let’s start with a little reminder. You have until April 18 to get your 2016 qualified plan contributions in (IRA and ROTH IRA, etc.). Why miss the opportunity to put away $5,500 toward your future and let it grow through the coming years toward your retirement? If you are age 50 or older you can add $1,000 catch up for a total of $6,500. While you are at it, think about doing your 2017 contribution as well.Read More
With the demise of the pension plan (some unions still have them) for most of us, we have to fund our retirement ourselves. One way is to contribute to your company’s 401k plan. One of the reasons a company starts a qualified plan is to retain key employees. Basically, you can participate in your company’s 401k (there are also 403b and 457 plans which are very similar) after a certain time on the job – usually 6-12 months until you are eligible.Read More
Setting realistic expectations is a great start toward a satisfying retirement.
To get started, you must have a road map of what you are spending for all aspects of your life, both for everyday expenses and for the outside activities. The best way to get going in the right direction is to create a budget and balance sheet. How much you are spending vs. how much you are earning.Read More
This week we will stay with the IRA theme and another important part of taking distributions.
We are getting close to the deadline for contributions to your 2016 IRA or ROTH. Why not consider doing your 2017 contribution now rather than waiting 15 months until April 2018. Get your money to work for you tax deferred.Read More
This is a very serious issue and if you get it wrong it will cost you big time. Please pay attention because every one of us with a qualified plan with our employer will have this possible situation down the road.
We are about to start another new year and along with that we make all kinds of resolutions that this year you are positively, definitely and absolutely going to jump on and stay with it. Yeah, right. How about this year do something different: Get back on track, or just get on track. It is your life and your future retirement. You are the only one who can control the end result. Are you ready to get serious?Read More
As 2016 winds down, it is time for us to start planning for 2017. Let’s forget about that New Year’s diet or health plan. How about a health plan for your financial future? I know it is a fleeting thought each year that happily goes away quickly, but not so fast!Read More