Your Kind of Retirement
How do you picture your retirement? Do you envision visiting old friends and traveling to new places? Do you plan to take up a new hobby or pursue an old interest? If you have high hopes for your retirement, you aren’t alone. The retirement script is being rewritten by today’s generation who don’t plan to spend their retirement days...
1031 Exchanges: Deferring Gains on the Sale of Real Property
For investors who seek to defer capital gains on the sale of investment property, one complex yet effective option is a 1031 exchange (also known as a Starker exchange). Named after Section 1031 of the Internal Revenue Code, 1031 exchanges became more popular and accessible after a key ruling by the IRS in 2002, which for the first time allowed...
Will Social Security Retire Before I Do?
People have traditionally seen Social Security benefits as the foundation of their retirement planning programs. The Social Security contributions deducted from your paycheck have, in effect, served as a government-enforced retirement savings plan. However, the Social Security system is under increasing strain. Better health care and longer life spans have resulted in an increasing number of people drawing Social...
Is a Home Equity Loan Right for Me?
Taxes are becoming an ever-increasing burden to Americans. Through the Tax Reform Act of 1986, Congress reduced or eliminated many of the ways that taxpayers can lower their taxes. Interest deduction is one of the areas that has been strongly affected by this tax reform legislation. Since tax year 1991, interest on consumer debt has not been deductible for income...
How Can I Better Manage My Short-Term Cash?
For the vast majority of people, it is essential to keep a portion of their assets in liquid form in order to meet monthly commitments. For example, most families have to meet their mortgage or rent payments, grocery, utility, and transportation bills out of their monthly paychecks. There is a host of other expenses that arise from month to...
Treating Your Employees Well
You might think that, with currently high unemployment rates, it will be an employer’s market forever. But, you would be wrong. Even today, as unemployment remains stubborn, some industries are having difficulties filling their job openings. Today, your industry could be in a buy or sell mode as far as attracting top employees is concerned. But there will come a...
Choosing The Right Caregiver
As medical science continues to find ways to help Americans live longer, it also requires us to examine some of the challenges of people living longer lives. The biggest, from both an emotional and financial point of view, may be providing ongoing care for a disabled adult. By the numbers According to the Family Caregivers Alliance National Center on Caregiving, 34...
When Investing, Make The Best Use Of Time
When you’re investing for retirement, it’s best to have time on your side. The sooner you begin investing, the more time your retirement fund has to potentially grow. Case in point Jill begins investing in a retirement account when she’s 30.* She invests $200 a month in the account for 35 years, until she’s 65, for a total investment of $84,000....
How Can I Benefit from Tax-Advantaged Investments??
For many people, tax-advantaged investing is an excellent way to reduce their taxes. And while many of the traditional tax-advantaged strategies have been eliminated, there are still alternatives left that can help you reduce your taxes. Some are described below. Real Estate Partnerships Two of the most common types of real estate partnerships are low-income housing and historic rehabilitation. The federal...
IRA Rollovers: Helping Retirement Savers Defer Taxes, Avoid Penalties
If you participate in an employer-sponsored retirement plan, you may have concluded that you don’t need a traditional IRA. Many people see the IRA as unnecessary because they don’t exhaust the contribution limits on their employer plans. But don’t be fooled into thinking that an IRA can’t help you reach your retirement saving goals. Chances are actually pretty good...
