Retirement Watch Weekly
How to Make Home Sale Gains Tax Free
The tax rules for selling a home are generous, but not generous enough for many homeowners on the coasts and in resort areas. Many of these homeowners have gains that exceed the tax free amount. Knowing the ins and outs of the rules can boost your tax-exempt gains. Owners of more than one home also […]
Should You Choose a Regular 401 K or Roth 401 K
Many employees have a new retirement-saving option, and many more will have that option over the next year or two. Should you take this option? In addition to regular 401(k) plans, employers now can offer Roth 401(k)s. The rules are very simple. There is no tax break for deferring salary into the Roth 401(k); it […]
Last-Minute Tax Law Extends Deductions
This year more than ever it is advisable to read the instructions carefully and check the IRS’s web site before filing 2006 tax returns. If you use tax preparation software, be sure to download the free updates before completing your returns. Take these precautions because Congress slipped through a new tax law before it adjourned […]
Long-Term Care Insurance Policies: Changes and Updates
Insurers are changing long-term care insurance policies to reduce confusion and overcome the objections of many potential buyers. The government also is getting on board with some new rules that favor policy purchases. Two major factors keep many people from purchasing long-term care policies. One factor is that the policies are complicated, with many optional […]
Avoiding Scams by Loved Ones
Though it does not get much attention, a high percentage of the scams and thefts perpetrated on older Americans are com-mitted by their loved ones. The number of scams on the elderly and how much money is involved are unknown, but experts suspect that family and friends take advantage of retirees more than strangers do. […]
January 2007
January 31, 2007 05:10 p.m. The Fed Boosts the Markets It was a good day all around for the stock markets. The day got off to a good start with the GDP report. It revealed stronger-than-expected growth and declining inflation. Consumer spending was high. The only negatives in the report were a sharp declining in […]
Pension Lump Sum Payouts to Decline
Lump sum pension payouts are likely to fall for many retirees over the next few years. The Pension Protection Act of 2006 changed the rules for computing payouts, and they apply retroactively. The new rules affect people in old-fashioned defined benefit pension plans. These are the plans that guarantee annuities to members at retirement. Members […]
How to Evaluate Free Financing Ads
Flip through the ads in the newspapers and you will find offers for attractive financing of purchases of high-ticker consumer items. The offer usually states there is no-interest for a period of one year to three years. The offers are most likely to cover purchases of electronics (such as big screen televisions) and furniture. Are […]
