Archive - November 2009

1
Deducting IRA Losses
2
What Makes Warren Buffet Such a Good Investor?
3
Clowning Around With Your Money?
4
What Can a Broker Do For You?
5
Structuring the Roth Conversion

Deducting IRA Losses

Did you know that you could deduct losses in your IRA accounts?  It’s not as simple as it sounds… but it is available and can be a sort of consolation prize for the poor individual that fits the circumstances.

Deducting Losses on a Traditional IRA

Of course, in order to deduct a loss, you have to have a basis in the account, since by definition a loss results when your balance is less than the basis.  The only way to have a basis in a traditional IRA is to have non-deductible contributions, that is, contributions that you made but did… Read More

What Makes Warren Buffet Such a Good Investor?

There are many reasons why people listen to Warren Buffett.  Besides being the second richest American (right after Bill Gates of Microsoft), Buffett is widely considered the most respected (i.e. best) investor there has ever been.

But there are other compelling reasons for listening to him; simply put, he speaks in a way that anyone can understand.  It’s a Midwestern common sense, seasoned with well-earned and certainly, much deserved, confidence. He’s cheerful, loves what he does, and apparently cares very little about consumption.  He is extremely grateful for the opportunity he has had in the United States and the …

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Clowning Around With Your Money?

If you were strolling through the park and a clown wearing purple and yellow polka-dots wheeled past you on his unicycle, you’d probably notice him, right? If you were on a cell phone at the time, think again.

A study published in a recent issue of Applied Cognitive Psychology discovered that 75 percent of the cell phone users in the study suffered from “inattentional blindness.”(1) In other words, three quarters of them did not report seeing the clown. Now, imagine if you put these same people behind the wheel of an SUV.

Regardless what you think about cell phone

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What Can a Broker Do For You?

You have choices when it comes to investing.  You can go directly to a mutual fund company (such as Vanguard or T. Rowe Price) and choose investments yourself, or you can use a fee-only financial advisor to assist you in choosing investments.  But by far the most common method is to work with a broker.  Brokers are companies like Edward Jones, Ameriprise, and AG Edwards Wachovia Wells Fargo, plus many, many other companies, including insurance company brokerage divisions, banks, and the like.

What’s the Difference?

the difference engine_marcin wichary usedYou’re probably wondering – what’s the difference between a broker and, for example, a fee-only… Read More

Structuring the Roth Conversion

In a recent article, I briefly covered the topic of Recharacterization.  The example that I gave was pretty simplistic – you converted an amount, and decided later to recharacterize that amount back to an IRA.  What if it gets complicated?

There are some steps you can take in your conversion that will help you to recharacterize later, if the occasion should arise.  These steps to structure the conversion are by no means required, they’d fit into a “simplifying your life” category, more than anything – or what I have heard referred to as a CYA* activity.

Structuring a Conversion

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