July 2012 | Page 2 of 7

Financial Planning For Career Switchers

Jul 27 2012

Are you thinking about changing careers? If so, have you done some financial planning to prepare for this change? In our self-help obsessed culture, it can be easy to get excited about changing your life but more difficult to take the time to research and plan out a career switch.

While money certainly isn’t everything, a number of career switchers may find that they need to invest a lot of money into getting a job in a new field. Peace of mind is priceless, so after some initial adjustments, people who change careers may find that they are quite happy …

The Difference Between IRA Contributions And Rollovers

Jul 27 2012

Often there is confusion about what constitutes a “contribution” and a “rollover” into an IRA. This post is intended to clear up the difference.

While both activities are technically contributions, there’s a major difference between the two. The most significant of the differences is that with a regular annual contribution there are several limits imposed that can be quite restrictive.

Annual Contribution Limits

For an annual contribution to a traditional IRA or a Roth IRA, you are limited to the lesser of $5,000 or your actual earned income for the year. If you have no earned income, you’re not allowed …

Getting Advice On Retirement Planning And Long-Term Care Insurance

Jul 26 2012

In a culture where youth is sometimes worshipped, many people don’t want to think about getting older and they certainly don’t want to plan for it. However, whether you plan for it or not, you are going to get older. When you consult a Fee-Only financial planner, you can make important decisions about your future with expert guidance. A Fee-Only financial planner can not only talk to you in general about retirement planning, but can also work with you to set up your finances so you will have money as you age.

In, “Long-Term Care: Is It in …

Financial Honeymoons: Advice For The Engaged, Newlyweds, Old Marrieds And The Divorced

Jul 25 2012

It’s summer, which means weddings for a lot of people and of course I have some advice. Er, my record on marital success is not too good, so I’m going to stick to financial pronouncements here. While planning for wedded bliss, you should also have Plan B: that you may find yourself suddenly single again. Not necessarily divorce, but also losing a spouse to death, long periods apart for work or military service, disability or illness. Okay, maybe that’s too gloomy for summer, but not as bad as having no plan and trying to cope with life’s surprises. So I …

Archive - July 2012

Annual Contribution Limits