| From : laidoffinsandiego.com
Not yet published.
IRA accounts are designed for retirement. If a person decides they want to access their account prior to age 59 1/2, they will incur a Federal Income Tax penalty for early withdrawal of 10% of the amount withdrawn. In addition, the amount withdrawn is deemed ordinary income and taxed as such. If that weren’t bad enough of a deterrent from early withdrawals, some states also have an early withdrawal penalty, for example in California it is 2.5%. So, if a person taking an early withdrawal is in... Read Full Story
| From : laidoffinsandiego.com
Not yet published.
There are probably as many perceptions of what a financial Advisor is, or should be, as there are people who hire them. Let me take a little time and a few pixels to comment about this.
For those who value an Advisor for their ability to deliver positive investment returns year after year, irrespective of the state of markets, you are probably very disappointed this year.
And for those who look for an Advisor to have expertise as a consistently accurate forecaster, you probably have... Read Full Story
| From : laidoffinsandiego.com
Not yet published.
As if it weren’t bad enough for the many laid off workers, the difficult stock and real estate markets have made retirement look “not so good” to many retirees. 9.5 million retired Americans are considering returning to work at least part-time, according to a study released last Thursday by Charles Schwab Corp. Also, 32% of currently employed Americans expect to hold onto their jobs and delay retirement.
Both choices carry significant implications and require careful planning. “The... Read Full Story
| From : laidoffinsandiego.com
Published to Stock Portfolio Investing
The video below is from an early Phil Donohue show with Milton Friedman. With the current economic environment, itis good to ponder Mr. Friedman’s words. Read Full Story
| From : laidoffinsandiego.com
Published to U.S. Economy
Yesterday, February 24, 2008, the Dow Jones Industrial Average rebounded 236 points following Ben Bernankes testimony. Bernanke seemed to bring relief regarding the state of our banking system in the form of a relatively clear plan with assurances that capitalism isnt going away in the United States any time soon. He outlined a 3 point plan (sounds kind of like a sermon outline, 3 points and a poem). Anyway, I digress, here is the plan.
The plan
How will the government stabilize the... Read Full Story
| From : laidoffinsandiego.com
Published to Finances
If your 401(k) investment options suck or if they are just plain too expensive and eat up your retirement returns while feathering the bed of the plan’s broker, move your money where you can control your investment options and fees.
Let’s say you now age 60 and don’t plan to retire from your job for another five years, and your 401(k) plan is very expensive and has less poor investment options. You can roll your $1 million 401(k)(or less - don’t we all wish our 401(k)’s were worth at least... Read Full Story
Published to Retirement Savings
| From : laidoffinsandiego.com
Published to Retirement Savings
Under current law, Qualified Retirement Plan (QRP) Participants are able to roll over taxable distributions from qualified plans and IRAs to 403(b) and government 457 plans, in addition to other qualified plans and IRAs. But be sure you look before you leap, these plans are not be required to accept rollovers. QRP Participants are also be able to rollover distributions of after-tax employee contributions from qualified plans or an IRA to a defined contribution plan or IRA. A rollover of after... Read Full Story
| From : laidoffinsandiego.com
Published to Jobless Claims
A weak housing market and decreased consumer spending raised the state’s jobless rate to its highest level in 14 years
By Dean Calbreath (Contact) Union-Tribune Staff Writer
2:00 a.m. January 24, 2009
The construction sector (left) accounted for the highest number of job cuts in 2008. Linens ‘n Things was among several retailers to close stores last year.
The [...] Read Full Story
| From : laidoffinsandiego.com
Published to Retirement Savings
I am going to give you some advice that could mean the difference between an "enjoyable" retirement one day and a "just get by" retirement. In this post, I will share with you principles that will really make a difference and keep you out of the kind of trouble even "sophisticated" investors find themselves in. If you heed this advice, you will never have to worry about getting fleeced by some crook like Bernie Madoff, the broker who ran a ponzi scheme that allegedly stole around $50 Billion... Read Full Story
