Retirement Watch Weekly
8 Simple Strategies to Improve Cash Flow
Prices of key goods are high and rising, and most investments are down. Higher costs and lower income mean times are getting a bit tougher financially, and people are being more prudent with their money. Smart money moves don’t have to be painful. People can increase their cash flow with a little bit of work […]
7 Safe Ways to Give Wealth
Gift giving is the surest way to reduce estate taxes, help loved ones of all ages, and establish a legacy. Yet, many people are hesitant to make significant gifts to loved ones, because of the potential pitfalls. Those pitfalls, however, can be avoided with some shrewd and creative strategies to give wealth. Potential givers see […]
Is Premium Term Life Insurance Worth the Cost?
Life insurance companies developed many bells and whistles to make their products more attractive to buyers. The buyers have to determine if these features are worth their additional cost. One frequent objection from potential purchasers of term life insurance is that the coverage might not be used. The policy owner could pay premiums for decades, […]
Long-Term Care and LTC Insurance – New Trends
The possible need for long-term care is one of the greatest concerns of American adults. Recent data indicate the concern is well-placed. Baby Boomers are forecast to need long-term care at a greater rate than their predecessors because of longer life expectancies and improvements in medical care. One federal report estimated that 13 million Americans […]
Dos and Don’ts of IRA Investing
Many people own substantial IRAs and do a lot of their investing through IRAs. These investors might not realize some investments are prohibited from IRAs and others are allowed but incur tax penalties. This issue is more important in today’s climate, because “hard assets” and other nontraditional assets-those that are doing well today-are primarily those […]
Tighter Rules for Charitable Contribution
As readers ready their year-end tax plans, they need to keep in mind recent changes in charitable contribution deduction rules. Congress tightened the rules in the Pension Protection Act of 2006, and the rules affect deductions for most types of charitable contributions on this year’s tax returns. Cash donations. Proper documentation now is needed to […]
The Upcoming Medicare Changes
One of the biggest mistakes people make in their retirement plans is underestimating their medical expense burdens. Traditionally, early retirees overlook this major expense, but it is likely that in the next few years this expense will spike higher than many retirees anticipate. It is important that people recognize the trends behind changes in medical […]
When Should You Reverse an IRA Conversion
IRA owners who convert their traditional IRAs to Roth IRAs during the year need to continue monitoring their accounts. It might be advantageous to reverse an IRA conversion. Reversing an IRA conversion, known as a recharacterization, can be done any time before the due date for the tax return for the year of the conversion, […]
