Author - Thomas Fisher, CFP®

1
Why Working During Retirement Is The New Normal
2
A Change To The Social Security “Free Loan” Loophole
3
The Extension Of The 2010 IRA Charitable Distributions
4
What Investors Really Want
5
See If You Must Wait to File Your Taxes

Why Working During Retirement Is The New Normal

According to a recent survey of American workers conducted in February and March 2011, 39% of workers plan to work past age 70 or not to retire at all.

Last week the Transamerica Center for Retirement Studies released the results of its annual Retirement survey. The survey, conducted by the Transamerica Center every year since 1999, included a representative sample of 4,080 people working full or part-time for a for-profit business employing 10 or more people.

The results also reflect workers’ perceptions that it will be harder to retire in the future than they thought it would be a few …

Read More

A Change To The Social Security “Free Loan” Loophole

Last March, I predicted that Congress would close the door on the Social Security “interest-free loan” loophole strategy that has been discussed in various publications over the last couple of years. I was almost right: the Social Security Administration (SSA) itself has taken the initiative to clamp down on this practice by severely restricting the circumstances under which it can be done.

The idea was that people who have filed for retirement benefits at a relatively early age (say, 62) had the option later of paying back previous benefits received (without interest) and then reapplying for benefits calculated on …

Read More

The Extension Of The 2010 IRA Charitable Distributions

With so many provisions in the The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, not much has been said about the extension of the IRA charitable rollover. This rule has been extended through Dec. 31, 2011, and in an unusual twist, charitable distributions for the 2010 tax year can be made through the end of January 2011.

Starting in 2006, it has been possible for taxpayers 70 1/2 and older to contribute their annual required minimum distribution (RMD) directly to a charity.  This law allows them to make the required distribution without counting it as …

Read More

What Investors Really Want

Meir Statman has had a distinguished career studying the way that real people make economic decisions. His new book walks the reader through a litany of the reasons that many investment and financial decisions go awry.

From wanting profits that are wildly in excess of the risks taken to giving up profits in order to avoid taxes, real people all over the world engage in a variety of irrational financial behaviors.  Professor Statman provides countless examples of these and cites a dizzying number of research studies that demonstrate the mental errors that we tend to make.
image
For example, people believe …

Read More

See If You Must Wait to File Your Taxes

Toward the end of this year, the IRS began warning Congress that last-minute changes to the tax laws could result in delays for taxpayers. Since the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 did not come into being until Dec. 17, the IRS has announced that many taxpayers will have to wait until mid-to-late February 2011 before they can their 2010 Federal returns. Anyone who needs to file Schedule A will have to wait, as will taxpayers claiming various other deductions and credits.

The delay affects those who file on paper as well as e-filers; the …

Read More

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