Here are some things you might want to do before saying goodbye to 2011. What has changed for you in 2011? Did you start a new job or leave a job behind? Did you retire? Did you start a family? If some notable changes occurred in your personal or professional life, then you will want [...]
Two federal tax reform proposals could make them less attractive. Our federal government needs to reduce its massive deficit – and among the many revenue-generating ideas being discussed in Congress, two in particular could have disturbing consequences for employees saving for retirement. There is no need to panic yet – these ideas are a long [...]
A recap of contribution limit and phase-out adjustments. The IRS has announced cost-of-living adjustments to IRAs and employer-sponsored retirement plans for 2012, so here is what you need to know about the newly altered contribution limits and phase-outs for these plans. 401(k) & IRA yearly contribution limits. In 2012, these are the annual contribution limits [...]
Benefits increase for 2012. Ideas for reform are numerous. Social Security gets its first COLA since 2009. As moderate inflation has made a comeback, the federal government has decided to boost Social Security benefits by 3.6% for 2012. This means an average increase of $39 per month for 55 million Social Security recipients ($467 for [...]
Key indicators point to an economy (slowly) on the This year, assorted economists and journalists have contended that the U.S. is on the edge of a new recession. Yet recent indicators hint that the economy is doing a bit better than some analysts think. U.S. retail sales were up 1.1% in September. This is the [...]
Can the last quarter of 2011 live up to historical averages? Is a rally ahead? You may have heard that stocks tend to do well in the fourth quarter. History affirms that perception: while past performance is no guarantee of future results, the last quarter of the year has historically been the best quarter of [...]
A closer look at the provisional income rules. Many new retirees assume that Social Security income is tax-free. That is not always the case. The Social Security Amendments of 1983 opened the door to taxes on some SSI, depending on the amount of income someone earns in a calendar year.1 How much of your SSI [...]
Things you can do before and for the New Year. The end of the year is a good time to review your personal finances. What are your financial, business or life priorities for 2012? Try to specify the goals you want to accomplish. Think about the consistent investing, saving or budgeting methods you could use [...]
The rules about contributing to both accounts in the same year. Will phase-outs affect your IRA contributions? Highly paid employees who contribute to workplace retirement plans can’t always maximize their IRA deductions. That is because of IRS phase-outs that kick in at certain modified adjusted gross income (MAGI) levels. A 2011 example. This year, you [...]
A way to “sweeten the pot” and retain executives and managers. A job that is simply too good to leave. Businesses arrange “golden handcuffs” or “golden handshakes” agreements with key managers to reward loyalty and promote retention. A golden handcuffs strategy can make a management position so attractive that it would be financially irresponsible to [...]
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