Archive - September 2010

1
How To Avoid Going Broke This Holiday Season
2
Why Converting to a Roth IRA Is a Mistake
3
How Baby Boomers Can Generate Steady Income From Their Investments
4
How To Ensure Your Estate is Prepared Properly
5
Using Stock Losses to Lower Your Tax Payments

How To Avoid Going Broke This Holiday Season

Can you believe it is already Fall which means that the Holiday season is just around the corner?  I don’t know about you but I’ve plans for Halloween, Thanksgiving, Christmas, New Years, and hopefully a trip to somewhere sunny in January.  To do all of these things is going to take some money and since I only have a short amount of time to put aside the cash here is what I am planning on doing:

Setting a budget for each event:

Last year for Halloween a group of us went to a party at the Crystal Ballroom in Portland, …

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Why Converting to a Roth IRA Is a Mistake

Article Summary:

  • The $100,000 income limit for Roth IRA conversions has been lifted
  • For most of you, converting to a Roth is a mistake.
  • There is one group of individuals who would probably benefit by doing the Roth conversion.

Many of you have by now heard that 2010 is the year to convert your traditional IRA to a Roth.  Not only has the $100,000 income limit been lifted (now anyone, regardless of income can convert to a Roth), but the income generated by the conversion in 2010 can be deferred, 50% to 2011 and 50% to 2012.  Combine these bonuses …

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How Baby Boomers Can Generate Steady Income From Their Investments

Article Summary:

  • Today’s baby boomers retirement will last much longer than their parents retirement
  • Most retiring Boomers ask for ‘income’ to replace their employment income
  • As Boomers give up on stock gains, they inevitably focus on income investing

Baby boomers will experience a very different retirement environment to their parents, so how can they get what they want?

Question to the Boomers; “How did your parents invest their retirement nest egg?”  The common perception is that they only spent the interest and dividends while never touching the principal.  Perhaps this explains why so many boomers are trying this strategy.  After …

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How To Ensure Your Estate is Prepared Properly

My husband died in February 2007. Then my dear mother passed a month later.

I deeply miss their physical presence, but their spirits and love will always be with me. I’m grateful for my faith in God, along with friends, family, and clients who offered loving support during that transition time.

Yes, managing grief at the death of a loved one is difficult. You may have experienced a similar intense heartache like mine when your husband died.

As the executor of my husband’s and my mother’s wills, I had two estates to settle. That was pretty straightforward work, although time …

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Using Stock Losses to Lower Your Tax Payments

Article in Summary:

  • By selling for a loss, you can offset future gains, up to $3,000 worth of ordinary income each year.
  • This procedure is called Tax Loss Harvesting

The other day a prospect came to my office who was looking for someone to help him manage his nest egg as he prepared for retirement.  He was expecting a windfall after he sold his business of around 1 million dollars. Couple that with his current nest egg of $1.5 million, he was looking forward to a nice income in retirement. But one thing puzzled me: he had $200,000 in 2008 …

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