My Retirement Blog
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Early Retirement Is Easy: Save Early, Save Often
The latest question into Walter Updegrave comes from a recent college graduate who wants to make sure he’s on the right track to retirement. Richard in Washington DC contributes 5% to his 401(k), which is matched in full by his employer, and puts $200 a month into a stock fund. So, what did Walter say…
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Check Your Beneficiaries
Now that it’s the end of the year, it’s time to do some revisiting of your accounts and one great, and quick, thing to look at is your listed beneficiaries on your retirement accounts. This is part of the process of checking and keeping your estate documents current, in the event of any changes, and…
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Nearing Retirement? Stock Falls Increase Dividends
Money has a great article out today in which they highlight the fact that recent stock market turmoil is opening up a great opportunity for near-retirees looking for some high yielding dividend companies. Falling stock prices are enough to make anyone a little wary of going into the market but seeing blue chip stocks fall…
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401(k) Providers To Disclose Fees to Companies
The Bush Administration is trying to push through a proposal in which 401(k) plan providers would have to fully disclose their fee structure to companies prior to being taken on as a provider of 401(k) services. Companies selling 401(k) services should be forced to disclose all the fees and expenses that can drain money from…
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A Weak Case Against Roth IRAs
It’s not very often you hear someone touting the benefits of a Traditional IRA over a Roth IRA, but today it happened. Roland Manarin, founder of Omaha, Nebraska based investment firm Manarin Investment Counsel, says that the bigger pot you work with in a tax-deferred account will result in greater earnings than a tax-free account.…
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Devon Energy’s Super 401(k)
I’ve been lamenting the fact that pension plans are starting to fall out of favor with many companies and just recently Devon Energy announced they’d be replacing their traditional 401(k) and pension plans with something they’re calling a Super 401(k). The Super 401(k) would take some control out of the hands of employees but in…
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Federal Gift Tax
If you give someone a gift of over $12,000 dollars a year, you are required by law to pay the tax on that gift over the gift tax amount. The gift giver is responsible, not the gift recipient, which seems to go contrary with one’s expectations. What is a gift? A gift is anytime there…
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Delaying Social Security Benefits
Last week I discussed the Social Security full retirement age, why is that important? You can begin taking Social Security payments as early as when you’re 62 if you’re willing to take a reduction, a real penalty unlike the earnings test deferral, because you’re taking payments for a longer period of time. If you are…
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