Be Cautious With Hard-to-Value IRAs – January 2017
A new year begins with celebrations, resolutions, and dual IRA opportunities. Most workers and their spouses have until April 18, 2017 (April 19 in some states), to contribute to an IRA for 2016. At the same time, contributions to 2017 IRAs are now permitted; the earlier money goes into the account, the more time for tax-deferred investment buildup.
Anecdotally, retirement finances formerly were based on a “three-legged stool.” After people stopped working and no longer had earned income, their cash flow would come from Social Security, personal savings, and a pension from a former employer. This pension would have been a traditional defined benefit plan, paid out for the retiree’s lifetime and perhaps for that of a surviving spouse.
More Certainty for Year-End Tax Planning – November 2016
Recently, year-end tax planning has been challenging. Many tax code provisions expired, and it was uncertain whether they would be renewed, with Congress’ action potentially not coming until extremely late in the year.
Financial Steps to Take After a Child Is Born – October 2016
The arrival of a newborn can be a joyous occasion. Even while emotions are at their peak, though, you shouldn’t neglect the practical aspects. Several steps should be taken to protect the family’s finances, and the sooner the better.