Other Ways to Pay for CollegeIf your kid is in her senior year of high school and there is nothing set aside for her college education it’s too late to do much more than stick whatever extra cash you can in a savings account.
What You Need To Know When You Are Somebody’s WidowIf you are married one of you will become widowed and usually it is the woman who is the surviving spouse.
Midyear Tax Planning For Those Retirement PlansMid-year is a good time to take stock of your retirement accounts.
Financial Goals For Families With TeenagersLife has kept you so busy you’ve had no time to think about the goals you made 17 years ago when your first child was born. So what do you do now?
Getting Your Money Out Of Those IRAsIt is your money in that IRA, but you may have to pay a penalty to get at it.
The Roth IRAA Roth IRA is my favorite way to save for retirement. You use after-tax dollars to make your contributions and when you withdraw the funds you will not owe income tax, including the money the Roth has earned.
The Spousal IRAA Spousal IRA is used for an unemployed or underemployed spouse.
The Rollover IRAA Rollover IRA allows you to receive distributions from qualified retirement plans and not pay tax on the distribution.
The Traditional IRAThese plans were designed to help individuals not covered by retirement plans at work and to give those individuals changing jobs the ability to rollover retirement assets and retain the tax deferred status.
Key Retirement Birthdays: Age 70½Congress and the IRS decided that you cannot leave your pre-tax retirement savings growing forever tax-deferred, so they chose 70½ for you to begin mandatory withdrawals.
The Over The Hill BonusCongress increased the amount workers could contribute to their retirement plans but then realized that older workers closer to retirement were in rough shape.
Mid-Year Tax Planning For Your Retirement PlansMid-year is a good time to take stock of your retirement accounts.