Archive - March 2014

1
Does Folk Wisdom Help or Hinder Financial Planning?
2
Spring Cleaning
3
How Does an Early Withdrawal from a Retirement Plan Affect My Taxes?
4
Give your 401(k) an Upgrade with Fidelity BrokerageLink®
5
How Obama’s 2015 Proposed Budget Impacts Retirement Accounts

Does Folk Wisdom Help or Hinder Financial Planning?

You’ve probably heard the saying ‘once bitten, twice shy’ to describe how people tend to react after they try something and it doesn’t quite work out. A lot of us also take that approach to our finances—if something does not work out the first time we try it, we may give up on it altogether. Depending on what the money management practice is, giving up might be the right thing to do or it could mean missing out.

Some of us also are too afraid to try. Rather than taking the risk of investing some money or changing financial institutions, …

Read More

Spring Cleaning

Spring is officially here….finally!  Even though yesterday looked more like January with blowing snow, the calendar says it is spring. With spring comes spring cleaning.  We should also look to do some tidying-up in our financial world, as well.  Here are a few tips to spruce up your 2014.

1. Complete your taxes!

If you haven’t already filed your taxes, get them done.  Remember the taxes you are filing belong to last year.  The numbers and information are history. We are looking backwards when we prepare last year’s taxes, and, if you want to be financially successful, we need to …

Read More

How Does an Early Withdrawal from a Retirement Plan Affect My Taxes?

Oftentimes we are faced with difficult situations in life – where we need extra money to pay for a major car repair, a new roof for the house, or just day-to-day living expenses – and our emergency funds are all tapped out.  Now your options become poor: should I go to a payday loan place, put more on my credit card?  My mortgage is upside-down so there’s no home equity loan in my future, and I can’t ask my folks for a loan, I’ve asked them for too much.  Hey, what about my retirement plan?  I’ve got some money socked …

Read More

Give your 401(k) an Upgrade with Fidelity BrokerageLink®

If your employer plan offers it, you’ll gain access to many more mutual funds and possibly an adviser.

If you are one of the many employees with a 401(k) or other plan held at Fidelity Investments, I suggest you read on. If your plan is held elsewhere (such as Charles Schwab), you may also have a similar self-directed option to investigate (called PCRA at Schwab).

Fidelity BrokerageLink® allows you to go beyond the traditional funds offered in your employer plan by giving you access to thousands of mutual funds. Not all plans contain this account feature, so check with your …

Read More

How Obama’s 2015 Proposed Budget Impacts Retirement Accounts

President Obama recently unveiled his proposed budget for 2015. Included in the proposal were the following potential changes to investor retirement accounts:

Apply Required Minimum Distribution Rule To Roth IRAs

There are currently two main reasons to invest in a Roth IRA – to pay taxes at your current rate in anticipation of being in a higher tax bracket in the future, and to invest in an account that does not require minimum distributions when the investor reaches age 70½. However, President Obama’s 2015 budget calls for Roth accounts to be subject to the same RMD rules as other retirement

Read More

Copyright 2014 FiGuide.com   About Us   Contact Us   Our Advisors       Login