Topic: Individual Retirement Accounts
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Five signs Americans are forgetting recession's lessons
Declining savings is one of five signs that American households are forgetting the lessons of the Great Recession:
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Briefing
Fiscal deal will cost you: 8 tax changes
Here are eight tax changes under the 'fiscal cliff' deal that may hit your pocketbook.
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Spend that windfall wisely (even if you didn't win the Powerball lottery)
Huge windfalls, like Wednesday's $580 million Powerball lottery drawing, get all the attention, but every day Americans get smaller surges of money – an annual bonus, for example, or a tax refund. You might be tempted to use it to pay off your credit card balances. Not so fast. There might be better ways to use it to improve your overall financial position. Here are five questions to ask yourself before you decide what to do with that windfall:
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Ten tax moves to protect yourself from the fiscal cliff
Americans are facing an unprecedented tax increase of nearly $500 billion on Jan. 1, 2013, from the so-called "fiscal cliff." Are you ready? Here are 10 year-end tax strategies I recommend:
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Income tax refund: five tips for maximizing it
People are always looking for ways to get every dollar back they deserve at tax time. Fortunately, there are some smart moves you can make before April 17 to help maximize your income tax refund. Spending a few minutes now will save you time preparing your taxes and can help you get big savings. Here are five tips to get you started:
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Cover Story Dow at 15,000: What the stock market is telling us
As Wall Street posts a new record, experts decode its message about the state of the economy – and whether it's too late to invest.
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Tax VOX Obama budget: the plan to cap retirement savings benefits
President Obama's 2014 budget would limit tax benefits for workers with high-balance retirement saving accounts. The plan is a smart way to roll back the billions in tax breaks that go to investors who don’t need tax incentives to save for retirement, Harris writes.
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Five signs Americans are forgetting recession's lessons
Declining savings is one of five signs that American households are forgetting the lessons of the Great Recession:
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Tax VOX The burden of choice weighs on the tax system
The current taxation of derivatives is complicated and inconsistent, Rosenthal writes. Investors often use these tax differences to manipulate the character, timing, or source of their income to reduce their tax liability, he adds.
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The Simple Dollar Stop looking at your retirement accounts
Tinkering with your retirement accounts costs you money, Hamm writes, and looking at your retirement accounts makes it tempting to tinker.
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Briefing
Fiscal deal will cost you: 8 tax changes
Here are eight tax changes under the 'fiscal cliff' deal that may hit your pocketbook.
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Saving Money Stocks as stocking stuffers: Three ideas for kids
A weekly allowance isn't the only way to teach kids about personal finance. Here are three tips for giving stocks as Christmas gifts.
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Workplace has no 401(k). Could states help?
Six in 10 private-sector employees aren't offered a retirement plan at work. So California and a few states are looking to offer them retirement plans.
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Spend that windfall wisely (even if you didn't win the Powerball lottery)
Huge windfalls, like Wednesday's $580 million Powerball lottery drawing, get all the attention, but every day Americans get smaller surges of money – an annual bonus, for example, or a tax refund. You might be tempted to use it to pay off your credit card balances. Not so fast. There might be better ways to use it to improve your overall financial position. Here are five questions to ask yourself before you decide what to do with that windfall:
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Ten tax moves to protect yourself from the fiscal cliff
Americans are facing an unprecedented tax increase of nearly $500 billion on Jan. 1, 2013, from the so-called "fiscal cliff." Are you ready? Here are 10 year-end tax strategies I recommend:
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The 'fiscal cliff' looms. Ways to soften the tax bill blow.
When the 'fiscal cliff' hits at the end of the year, automatic tax increases will push up taxes on income and capital gains and dividends. Here's how taxpayers can minimize the potential damage.
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529 saving plans: no longer cool?
Net inflows into 529 saving plans have slowed as the economy remains weak. Many parents are looking at alternatives to the 529 saving plans.
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The Simple Dollar Student loans: Pay them off, or invest elsewhere?
Student loans at currently low interest rates should be paid off as quickly as possible, because there aren't many better investments out there. Student loans are question one in this week's mailbag.
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The Simple Dollar 401(k) savings: Huge plus, even when retiring at 45
401(k) savings defer taxes and can fund second retirement phase for high earner who wants to retire at 45. See question No. 2 in the reader mailbag for 401(k) discussion.
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The Simple Dollar Student loans equal $35,000. Pay 'em off or save?
Student loans have variable interest rates, but they're low now. So concentrate first on an emergency fund. See question No. 4 in the reader mailbag.
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Retirement strategy for small-business owners: Grab the tax break
Retirement might seem like the last priority for small-business owners. But funding your retirement plan can save 30 to 40 cents on the dollar because of tax breaks.
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401(k) plans? Nice, but don't forget the IRA.
401(k) plans are a great way to save for retirement. But adding IRAs to 401(k) plans gives savers additional flexibility.
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Tax deductions: 12 ways to save, from mortgage interest to moving costs
Tax deductions can require some extra reading of instructions, but there's big money to be saved when you file your tax return.
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The Simple Dollar Student loans: the more you can pay at once, the better
Student loan bills reach six figures for one married couple, who wonder if they should throw as much money at the loan as possible or stick to the payment plan. Student loans are question 6 in this week's mailbag.
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The Simple Dollar Student loans are $300,000. Prepay them or save?
Student loans are so high, couple wonders whether to pay them off early or save $5,000 a year for retirement. Question on student loans is No. 6 in this reader mailbag.
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Income tax refund: five tips for maximizing it
People are always looking for ways to get every dollar back they deserve at tax time. Fortunately, there are some smart moves you can make before April 17 to help maximize your income tax refund. Spending a few minutes now will save you time preparing your taxes and can help you get big savings. Here are five tips to get you started:
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The Simple Dollar Student loans or house downpayment? Where to spend $25,000.
Student loans worth $25,000 will start accruing interest in November, but a young couple wants to buy a house in 2013. Should they pay off the student loans or buy a home? See question No. 4 in this reader mailbag.
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The Simple Dollar Roth IRA: Use ShareBuilder or Vanguard?
Roth IRA is easy to set up immediately in ShareBuilder, but patience and Vanguard mean fewer fees in the long run for your Roth IRA. See question No. 7 in the reader mailbag.
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The Simple Dollar How to find a retirement saving plan that works for you
Everyone has a different idea for how they want to spend their retirement. Given how varied people's goals are, why is it reasonable to think that everyone should have the same retirement saving plan?
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Tax VOX Why does Mitt Romney manage his investments from the Caymans?
Mitt Romney's holdings in the Cayman Islands have generated lots of interest in investment funds that are managed from the U.S. but incorporated in foreign jurisdictions. The real winners in these arrangements are U.S. tax-exempt entities, not Mitt Romney and the investors themselves.
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