Meager Income

Pay Off Debt, Retire Comfortably on Meager Income, Win the Lottery, Not Necessarily in that Order

A $400,000 Mistake!

The account holder thought he had ensured that his children would receive his IRA upon his passing. Unfortunately, because the account holder did not fill out the beneficiary form correctly, the funds were disbursed in accordance to his will instead of the IRA beneficiaries as he had intended. He should have just listed his children […]

Roth IRA as a Savings Account

I really like the idea of a Roth IRA. If one meets the contribution limits, one is allowed to contribute after tax income and the money can appreciate and you’ll never have to pay taxes on the gains. The other aspect I like about it is that it can be used a savings account. Once […]

Saving for Retirement 2014

I’ve had a busy few months and now I’m finally getting a chance to think about my finances again.  I’ve decided to increase the amount I’m contributing to my 401k.  This will reduce my taxable income now and defer taxes on the amount I set aside to a future date.  The maximum allowed by the […]

2012 Tax Benefits to Increase Due to Inflation

The IRS has just announced Cost of Living Adjustments to various items for tax year 2012.  Of interest to a lot of people should be the increase to 401(k) from $16,500 to $17,000—an increase of $500.  I’m still not at the max for this year.  Deducting $708.33 a pay check would be way too much […]

  • Recent Tags

  • Categories

  • Recent Posts

  • Stock Quotes