Misconceptions About Backdoor Roth IRA Conversions
In 2014, the income limit for Roth contributions is $129,000 for single filers and $191,000 for married couples filing jointly. For high-income earners who earn too much to contribute to a Roth IRA directly, the only method of getting new assets into a Roth IRA is to go in through the backdoor, opening traditional nondeductible […]
Your Money & the Markets in December 2013
The onslaught of positive economic news during the past couple of weeks has been relentless. Even fears of an earlier Federal Reserve reduction in bond purchases couldn’t dampen spirits on Dec. 6 when a positive jobs report had everyone cheering. This and other recent numbers put a lot of fears to rest with accelerating purchasing […]
Financial First Steps After Having a Baby
The arrival of a baby is an exciting event, but it also brings additional financial challenges and decisions for the whole family. Outlined below are four key financial considerations to help new parents prepare for many of life’s unknowns. Prepare for the Unexpected: Check your individual health insurance policy for specific guidelines on adding coverage […]
Your Money & The Markets in November
The market endured yet another month of Fed-watching as investors moved markets upward when more quantitative easing looked possible and downward when it looked like tapering of bond purchases was around the corner. In the past, easing and tightening measures by the Fed have been nearly perfect predictors of stock- and bond-market moves in the […]
Financial Planning for Women
Financial planning may present different challenges for women as opposed to men for various reasons. Knowing these challenges, when and if they are likely to occur is crucial for women to successfully manage income, expenses, retirement planning, college planning for children, and any other money matters that need attention. Challenge 1: Women tend to live […]
Thoughts on the Government Shutdown
Lawmakers in Washington failed to reach an agreement on legislation to fund federal government operations for the new fiscal year. As of October 1st, the U.S. government effectively shut down to some greater or lesser extent, and the last time this occurred was in 1996 under the Clinton Administration. Media outlets have been promoting gloom […]
Saving Is Not Enough
Saving Is Not Enough. After two financial crises occurring almost back to back during the “lost decade,” investors have every right to be risk-averse, hesitant, angry, or distrustful. The problem with not investing at all, however, is that you may not have sufficient money to achieve your financial goals. An individual saving $100 per month, […]
To Trust or Not to Trust
Investors make significant efforts to maintain a disciplined saving approach throughout their lives in order to meet long-term financial goals such as retirement, saving for children’s education, or passing an estate to grandchildren. Thinking about what will happen when you are no longer here is not pleasant; it is important, however, to plan how you […]
Your Money & The Markets in August
A repertoire of mixed economic news seemed to be the main theme of July. On the bearish front, employment growth decelerated and construction spending fell. Adding to this sentiment were disappointing pending home sales and weekly shopping growth slowing down to below 2.5%. On the other hand, GDP came out better than expected, and the […]
The Costs of Financial Procrastination
The Costs of Financial Procrastination. Retirement usually doesn’t start until you’re in your 60s but there is a good reason to start saving much sooner. The earlier you contribute to your nest egg, the more time your portfolio will have to grow in value. The image illustrates the ending wealth values and effects of compounding […]