Retirement Watch Weekly
January 2008
January 22, 2008 02:10 p.m.The Big Sell Off It seems I caused a substantial decline in world stock markets. Last week I posted the February 2008 issue of Retirement Watch in which I argued that today’s market environment is more like 2001 or early 2002, with more losses to come, than it was like late […]
Estimated Tax Strategies for Retirees
Paying estimated taxes is a trap for many retirees. Most had income taxes withheld from paychecks while they were working. Once retired they are responsible for ensuring taxes are prepaid on their investment income, IRA distributions, and other sources of income. If the payments are late or not high enough, penalties can be imposed. If […]
A Shrewd Look at the Power of Attorney
A Power of Attorney is an essential part of an estate plan. You know that from past visits. The POA ensures that someone can manage your estate when you are unable to. Bills can be paid; investments can be managed; and other actions can be taken. Having a document called a power of attorney does […]
New Medical Insurance Options for Early Retirees
Health care orphans are receiving some help. Medical insurers and major employers are coming to their aid. The orphans are the second-fastest growing group of those without health insurance. They are people ages 50 to 64 who have no employer-sponsored medical coverage because they left their jobs, and their employers do not provide retiree medical […]
December 2007
December 17, 2007 3:05 p.m. The Specter of Inflation Rises Friday’s inflation report brought to the forefront something we warned about for some time: The threat of rising inflation is not dead. We are not living in the disinflationary and potentially deflationary era of the 1990s. Global growth and easy money policies around the world […]
What is Behind the Boom in 529 College Plans
Investments in 529 college savings plans are increasing rapidly, and there are good reasons for it. The benefits are enhanced, and the alternatives are less attractive than they used to be. Congress expanded the Kiddie Tax and made it tighter, causing Uniform Gift to Minors Act accounts and direct gifts to children to be less […]
Last Chance for IRA Charitable Contributions
We are approaching a last chance for some taxpayers to use IRAs to make tax-advantaged gifts to charity. The tax break is set to expire after Dec. 31, 2007. The Pension Protection Act of 2006 allowed IRA owners who are at least age 70½ to make gifts directly from the IRA to a charity. The […]
Key Steps to Take Before a State Tax Audit
The most important tax audit of your life is likely to take place either in the first few years of retirement or after you pass away. It is a state residency audit and could befall anyone who moved to another state during retirement or who owns homes in at least two states during retirement. A […]
