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So it’s time to take your first RMD

For retirees who are in the enviable position of not needing distributions from their IRAs or 401ks, the fact that they must start taking them is generally unwelcome.  Instead of the money continuing to grow on a tax-deferred basis, some of it will be subject to taxation upon distribution.  A recent New York Times article discusses the […]

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More than 1/3 of Americans have saved nothing for retirement

Many Americans have no retirement savings A new survey has determined that 36% of Americans have saved exactly nothing for retirement. Nada. Zero. Although the coverage I’ve seen so far suggests that the issue is most serious in the case of Millenials, I disagree. If you’re in your twenties, you have time to recover, […]

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Make a plan with a CFP professional

CFP Board: Let’s Make a Plan

As the CFP Board so eloquently states, “Your finances can’t manage themselves, but that doesn’t mean they won’t try”.

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Retirement Plan Contribution Limits for 2013

There is some good news in the land of Retirement Planning for 2013.  Of course, it remains hard to predict what our taxes will look like next year, but everybody will have the ability to set aside more than we did last year on a tax-advantaged basis. 401k contributions For 2013, the maximum 401k contribution […]

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From TwentySomething to Millionaire

My fellow financial blogger and Garrett Planning Network member Jim Blankenship has challenged members of the financial planning community to do our part to encourage an increase in the overall savings rate in America.  The numbers are pretty dismal of late.  According to the Bureau of Economic Analysis, our savings rate was actually negative in […]

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Social Security

Social Security COLA for 2013

There is some good news and some bad news in the Social Security Administration’s recent announcement regarding the Cost of Living Adjustment for 2013.   The (moderately) good news is that Social Security recipients will receive a 1.7% increase in their checks in 2013. More relevant for parents of twins and triplets is the bad news: […]

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Dollar Cost Averaging

What is Dollar-Cost Averaging?

A general investing maxim that has been passed down over the years is that Dollar Cost Averaging (DCA) is a good way to invest, particularly for beginning investors. The basic approach is that you invest a consistent amount at regular intervals, which ensures that you buy more shares when prices are low (and fewer shares […]

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Exchange Traded Funds

Are ETFs dangerous to your wealth?

Can you feel it comin’? As I write this post, I’m listening to the new Velvet Years EP from Blue Eyed Jesus.  While the title song deals with a sort of revolution of a very different nature, the “revolution” concept seems appropriate when considering the impact ETFs have and will likely continue to have on […]

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Roth IRA Movement

A Roth IRA Revolution

Okay, revolution may be a bit strong.  In reality, Roth IRAs have been around for awhile, and even a few hundred bloggers collaborating doesn’t make a revolution.  So maybe movement is a better word.  That is what Jeff Rose is proposing on his Good Financial Cents blog.  Jeff recently spoke to a class of seniors […]

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Staying The Course

In the paper “The impact of staying invested during market turmoil“, Russell Investments presents some data demonstrating the consequences of several different courses of action during the 2008 financial downturn, through the end of 2010. The data shows what would have happened if a hypothetical investor had a $100,000 portfolio, and had invested 60% of […]

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