retirement

Defining Financial Independence

by Michael on Mar 20, 2014 · 0 comments

If you prowl around the internet a bit, it won’t take you long to find someone chronicling their journey toward “early retirement.” Of course, what these individuals are seeking isn’t really early retirement, but rather financial independence. In other words, they’re trying to reach the point at which they no […]

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Details regarding President Obama’s proposed myRA retirement accounts have begun to dribble out. Here’s what we know about the program so far…

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As a followup to my earlier posts on IRA contribution limits and the income limits for traditional IRA deductions… I thought I’d highlight the income limits for making Roth IRA contributions. As you’re likely aware, not everyone can contribute to a Roth IRA. Rather, depending on your modified adjusted gross […]

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One of the big reasons that many people contribute to a traditional IRA is for the tax deduction. But not all contributions qualify. How do you know if you’ll be able to deduct your IRA contributions? Simple. Just compare them to the applicable income limits. For 2014, these limits (like […]

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What the Heck is a myRA?

by Michael on Jan 28, 2014 · 0 comments

Here’s an interesting tidbit from President Obama’s State of the Union address: “[T]omorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: myRA. It’s a new savings bond that encourages folks to build a nest egg. myRA guarantees a decent […]

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How do you think your spending will change in retirement? Will it increase? Will it decrease? Or will it stay the same? When it comes to retirement planning, investors are often advised that they’ll most likely spend considerably less in retirement than they do during their working years. After all, […]

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Setting Financial Goals for 2014

by Michael on Jan 1, 2014 · 0 comments

Welcome to 2014! I’m not sure about you, but we don’t have any major, life-changing resolutions for the year ahead. That said… We do have some financial goals for the next 12 months. What sort of goals? Since we don’t have any debt, we’re primarily focused on our investment accounts.

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As of March 1st, 2013, people who sign up for Social Security benefits are required to set up direct deposit to receive their payments. In my book, this is a good thing. It’s both more cost effective and more secure than mailing out checks and having them sit in a […]

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