Archive for January, 2012
War On Wealth Series -
The congressionally mandated g-fee increases set to go into effect as of now, will artificially increase mortgage rates by more than 1/2 percent with some lenders. It will increase mortgage rates to some degree with all lenders.
Traditional IRAs are funded with your income dollars before Read More→
401(k)’s were billed by the government and corporations as one of the most powerful tools you have to save for retirement. 401(k)’s are offered through employers and can be contributory or noncontributory.In addition to saving for retirement they were billed as one of the best tax shelters that our federal government has ever managed to create.
Well let’s see. The government gets to tax money years down the road when the pot is much bigger, therefore tax revenues are much greater, and corporations get to pass the risk to the employee. No wonder they are both staunch supporters Read More→
The self-employed 401(k) plan was designed for self-employed people who have no employees, other than their spouses, working for them.
The 401(k) is promoted as one of the most powerful tools you have to save for retirement. These instruments are offered through employers and can be contributory or noncontributory. In addition to enabling you to save for retirement, they offrer one of the best tax shelters that our federal government has ever managed to create.
Key Features of the Self-Employed 401(k) plan are: Read More→
As I mentioned in an earlier post, a Simplified Employee Pension Plan, is a retirement plan specifically designed for small-business owners and self-employed individuals. These plans work even if you are the only employee, as the rules are the same.
Key features include: Read More→
Simplified Employee Pension Plans (SEP), are retirement plans designed for small-business owners and slef-employed individuals. Employers can make tax-deductible contributions on behalf of their employees because the plan is based on an IRA. That means, if you are eligible, you will not pay taxes on the contribution but you will pay them on the distribution you receive from the SEP account. Read More→
Do you want to be debt free today? If you have the money in the bank, of course, you can pay off all of your bills. However, for most of us, being debt free today is more of a mentality than a reality.
Being debt free today means no mortgage, no auto loans, and no credit card bills. It means that everything you earn goes into your pocket for spending this month or for saving for the future.
In today’s consumer culture, that doesn’t seem likely for most people. In fact, most Americans dig themselves deeper in debt each and every month.
But, if the current economic slowdown has shown us anything, it is that we have to become more responsible consumers.
People Read More→