Archive - May 9, 2011

1
How To Adjust Your Withholding From Your Paycheck
2
Is It Time You Had “The Talk” with Your Parents?
3
How Inflation Affects Your Family’s Finances
4
How to Handle Your Retirement Account Withdrawals

How To Adjust Your Withholding From Your Paycheck

Now is a good time to look at the amount of tax that you have withheld from your pay, pension or Social Security, as well as any estimated payments that you make throughout the year.  The amount of any payment that you had to make on April 15 should be fresh in your mind – and if it was a sizeable amount you should review the situation and quite possibly adjust your withholding or estimated payments.

It’s also possible that you’ve been having more tax withheld than necessary. If you received a rather large refund, you’re essentially giving the government …

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Is It Time You Had “The Talk” with Your Parents?

It’s not enough that we have to psych ourselves up for “The Talk” with our pre-teen kids these days.  More and more of us are also having to have a different kind of Talk with our aging parents.  This Talk (with a  capital “T”) actually involves more asking than telling on our part.  As our parents age we find ourselves wondering if they are really prepared for end of life matters.  Do they have a will?  What about long term care insurance?  How much is the monthly mortgage payment?

According to the Employee Benefit Research Institute, only 40% of adult …

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How Inflation Affects Your Family’s Finances

What is inflation, and why is it so important?

According to Wikipedia, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. This is important because as these prices increase, your dollar buys less goods and services. If we can’t buy as much stuff, our consumption based economy will slow down. That is why the Federal Reserve, whose purpose is to ensure economic stability, focuses largely on keeping inflation at 2%.

Why not 0%?

The Federal Reserve wants to keep inflation above zero because inflation signals growth in …

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How to Handle Your Retirement Account Withdrawals

If you have multiple options of various different kinds of accounts to choose from, such as an IRA, a Roth IRA, a qualified retirement plan (such as a 401(k) plan), also known as a QRP, and perhaps an inherited IRA; you may be asking yourself, which one should I take a withdrawal from first?

Age-Related Considerations

If you’re under age 59½, some of the options include considerable penalties – withdrawals from either the traditional IRA or the QRP will incur a 10% penalty for early withdrawal unless you meet one of the exceptions.  So this leaves the Roth IRA …

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