Double Your Tax Savings

Could you use an extra $2000?

Almost everyone knows about the tax savings a retirement plan offers, such as a 401(k) or a 403(b). However, did you know for some tax payers there is a way to save twice, and possibly increase your refund? It is called the "Retirement Savings Contribution Credit," and it can be used even if you are contribution to a ROTH IRA.

The Other Candidate Won't Destroy the World

Elections and the Stock Market: Much to Do About Nothing

It’s a presidential election year and with that comes the invariable stock market correlations seeking to predict election results or forecast the market’s direction.  On one hand, the performance of the stock market during the two months leading up to the election has been somewhat of a predictor of who will win the race.

Credit Card Fraud Detection and Protection Basics

It’s happening with increasing frequency – people who finally get around to checking their credit card statements see an unusual charge or go to charge a purchase only to find out their credit card is maxed out when they have hardly used it. Credit card fraud is a $200 billion a year business affecting more than 10 percent of households.

Do Experts Follow Their Own Advice?

It is not unusual for experts not t follow their own advice. Academic literature, MBA classes, text books, and many of the talking heads on television encourage investors to invest in low cost, passively managed index funds. However, what do they do themselves?

How passive are they?

Let's look at a few examples:

Are You Really in It for the Long Haul?

Whenever the markets start to behave badly, two types of news articles appear. The first type are the doom and gloom articles. If you believe everything in these articles you would bury your money in a tin can somewhere in the mountains. The other type of article tries to be a bit more realistic by trying to keep readers focused on their goals.

Protecting the Family Treasure

In the early to mid-20th century (sounds ancient doesn’t it?), grandparents and parents would purchase stock for the children’s future education. In those days, to show ownership, they would receive stock certificates. These certificates were often quite ornate. They would have the name of the company, the shareholder’s name, and the number of shares.

IRAs Can Be Taxing in More Ways Than One!

IRAs are simple in concept. You put money into an account and it grows tax deferred. When you retire you pay taxes on withdrawals from a traditional IRA or no taxes on a ROTH IRA. However, while the concept is simple, real life is a bit messier. What if you did not qualify for a tax deduction when you contributed to a traditional IRA?

Our Biggest Financial Challenges are often Self-Inflicted

In many respects, people can be their own worst enemies in their quest for financial security. When you consider that our lives are nothing more than a culmination of the decisions we make each day, if we tend to make more bad decisions than good decisions, or worse, if we can’t make decisions at all, it’s should be no surprise when financial security  remains elusive.

Put Courage in Your Investment Strategy

Warren Buffet has made no secret of his successful investing strategy. “Buy into fear” he says, “Buy when everyone else is selling”. For most, average investors that may be much easier said than done. Perhaps if we all had a few billion dollars in the bank, we might be able to muster up more courage and take some more risks.

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