Author - Jim Blankenship, CFP®, EA

1
Fixing Social Security
2
Financial Advice to Ignore, Even if it Comes From Your Mother!
3
Apples and Oranges
4
Happy 40th Anniversary, IRA!
5
To Roll or Not to Roll?

Fixing Social Security

social securityFor quite a while now we’ve been reading the reports from the Social Security Administration’s reviews of the status of the trust fund – where the prediction is that we’ll end up in the year 2033 with only enough money to pay 77¢ on the dollar of the promised benefits from Social Security. So far this revelation has not resulted in policymakers’ taking any actual steps to fix things, but sometime someone has to act. What can be done about fixing Social Security?

What Can We Do About Fixing Social Security?

As future recipients of benefits, we have some actions… Read More

Financial Advice to Ignore, Even if it Comes From Your Mother!

mother and childrenListed below are a few time-honored maxims that we’ve all heard.  Perhaps we’ve even heard these from very trusted sources – like our Mothers.  As you’ll see, it’s not always good advice… In the interest of full disclosure, my own Mother did not give me any of this advice.  She tended to stay with the “wait an hour after eating to go swimming” variety of advice. One of my favorites was always given as I was leaving the house during my younger years: “Have fun. Behave!” I once pointed out to her the fallacy involved there but she didn’t see

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Apples and Oranges

apples-and-orangesWhen considering investing with a particular financial planning firm or mutual fund consider looking at what benchmark they’re comparing their returns (disclosure: the funds we use are the benchmarks).

It’s pretty easy for a mutual fund company or adviser to tout their funds when they have beaten the benchmark over a certain period of time. For example, I had the opportunity to look at a client’s investment performance report that they had with another company. Written across the top in the adviser’s handwriting was the phrase, “Looks like we beat the benchmark.”

And it was true. They had beaten the …

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Happy 40th Anniversary, IRA!

happy anniversary iraThis year marks the 40th anniversary of the Individual Retirement Arrangement (IRA). In 1974 via the ERISA law, Congress made this new type of retirement plan available for employees whose employers who could not provide them with the traditional type of retirement plan. In 1981, the plans were made generally available to all taxpayers. The Tax Reform Act of 1986 limited the deductibility of IRAs by income.

1997 saw the launch of the Roth IRA, as a part of the Taxpayer Relief Act of 1997. This type of IRA came with no deductibility, but earnings (and contributions) would be tax …

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To Roll or Not to Roll?

puppy-110193_640At some point in almost everyone’s lifetime they have gone through the process of changing jobs. Many times those jobs offered retirement plans such as 401(k)s 403(b)s, etc. Conventional wisdom would say that for most employees it may make sense to roll their employer sponsored plan into an IRA. Based on a request from a reader (thanks David!), I thought I would go over some of the issues to consider before rolling your employer sponsored plan to an IRA.

  1. Check expenses. Generally, many employer sponsored plans are able to offer their respective investments (generally mutual funds) for much cheaper than
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