There’s Still Time to Make a 2012 IRA Contribution!
The deadline for 2012 IRA contributions is April 15, 2013. The limit for total contributions to all IRAs generally is $5,000 ($6,000 if you were age 50 or older on Dec. 31, 2012). Any unused limit can’t be carried forward to make larger contributions in future years. So if you haven’t already maxed out your [...]
The Investment IQ Quiz
At our firm we use American Funds for our Retirement & Savings Plan. With quarterly statements there is typically an insert with useful information from American Funds. This past month they had a fun Investment IQ Quiz to test our knowledge — I thought I would share it with you. Match the definition on the [...]
Extra Retirement Income From a Past Divorce
Times are tough out there and here is some advice that you may have forgotten about or didn’t know. A person can collect Social Security benefits based on his/her own earnings history, or 50% of his/her former spouse’s benefit if it is greater than his/her own, or 100% if the former spouse is deceased. In [...]
SHOULD I TAKE SOCIAL SECURITY EARLY?
This is a question that I am often asked. Conventional wisdom says to wait as long as possible, but these are not conventional times. Many baby boomers today think they should take benefits now while they can, and there are more people taking early benefits. There is much discussion about Social Security reform, increasing the [...]
Baby Boomers – Will you outlive your savings?
The three biggest fears of people about to retire are: Will I outlive my savings? How do I protect my family? How do I protect my assets? With the fluctuations in the market, higher taxes, and fewer jobs, these are real concerns. Many people who planned to retire now have to work 5 to 10 [...]
