Author Archive

IRA & 401(k) Contribution Limits 2015

| January 13, 2015 | 0 Comments

Traditional and Roth IRA Contributions For 2015, your total contributions to all of your traditional and Roth IRAs cannot be more than: $5,500 ($6,500 if you are age 50 or older), or your taxable compensation for the year, if your compensation was less than this dollar limit. Roth IRA Contributions Roth IRA contributions are limited based […]

Filed Under: Retirement

Fund Managers Are Not Looking Out for You

| October 14, 2014 | 0 Comments

Mutual fund managers have the job of managing their mutual funds.  They do not have the job of doing what’s best for each individual client.  While they are tasked with managing their funds to get the best gain possible within the scope of their fund’s parameters, they are often tasked with being at least 90-95% […]

Filed Under: Investing 101

Dealing with a “Bad” 401(k)

| September 26, 2014 | 0 Comments

Far too many employees consider their companies’ 401(k) plans to be too bad to participate.  This is a mistake.  The most common complaint is that the plan doesn’t match their contributions.  The lack of employer matching contributions does not turn a good 401(k) plan into a plan that should be avoided.  It simply means each […]

Filed Under: Retirement

10 Signs You Are Not Saving Enough

| July 24, 2014 | 0 Comments

Some people are naturally inclined to save more for the future.  These people are able to focus on delayed gratification rather than impulsive purchases.  For the rest of you, here are a few ways to tell if you are not saving enough. If your kids’ allowance is bigger than your monthly savings, you are not […]

Filed Under: Spending

Insurance for Investments

| May 21, 2014 | 0 Comments

Most people (at least the responsible ones) can’t imagine driving a car without insurance covering it.  The same goes for home owners and a lot of renters.  Insurance is a mandatory cost for these expensive pieces of property.  Jewelry is insured.  Cell phones can be insured (if the buyer falls for the sales pitch on […]

Filed Under: Investing 101

Being a Millionaire has Become a Requirement

| March 26, 2014 | 0 Comments

When I was growing up in the 1970s and 1980s, being a millionaire sounded like a lofty goal, let alone having more than $1,000,000 in investments on top of non-income producing assets like your house, cars, jewelry and art.  These days, I understand that saving $1,000,000 is a minimum requirement for anyone who wants to live a […]

Filed Under: Planning, Retirement

How Much Should I Save in My Emergency Fund?

| February 10, 2014 | 0 Comments

What is an Emergency Fund? Everyone interested in creating financial stability in their lives should strive to have a fully funded emergency fund in place.  The main purpose of this fund is to cover your living expenses if you are unemployed.  That’s it.  After funding the account, you can essentially forget about the money in […]

Filed Under: Spending

IRA & 401(k) Contribution Limits 2014

| December 30, 2013 | 0 Comments

IRA Contribution Limits For 2013 and 2014, the maximum you can contribute to all of your traditional and Roth IRAs is the smaller of: $5,500 ($6,500 if you’re age 50 or older), or your taxable compensation for the year The IRA contribution limit does not apply to rollover contributions or qualified reservist repayments. IRA Deduction Limits Your traditional IRA contributions may be […]

Filed Under: Retirement