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Best Options For Your 401k Rollover

June 14, 2019 by Jon

401k RolloverWhen you leave your job, do you really want to leave your retirement savings behind?  It’s probably not the best idea.  So why not bring it with you.  There are several 401k rollover options available that allow you to take your retirement savings so you have better control of that money.

The 401k rules give you three options when you leave an employer.  You can cash it all out and pay the taxes and penalties – a terrible choice.  You can leave it sit and keep track of the plan administrator till you retire.  Or you can choose to rollover a 401k into another retirement plan.

Let’s focus on the rollover since it’s the best choice.  You have several 401k rollover options to choose from when you leave your old employer.  By doing so you keep greater control over your retirement funds. Continue Reading…

Happy Hour: Blaming Simpsons Stamps & Unfair Tax Rates

August 24, 2012 by Jon

Welcome to the end of the week and another edition of Happy Hour!  Just sit back, relax, and enjoy your end of the week roundup of all things interesting in the land of money.

Simpson’s Stamps

The fate of the Post Office is being blamed on the overproduction of Simpsons stamps.  At least that’s the excuse being tossed around this week.  It can’t be from the $5.2 billion loss in its third quarter.  Can it?  Or the potential $15 billion loss on the year?

Nope.  It’s entire success is based on the Post Office curbing stamp overproduction.  Because it will save $2 million per year.  Now, what to do about the other $14.998 billion? Continue Reading…

2012 Summer Tax Tips

August 23, 2012 by Jon

Tax TipsPaying the lowest taxes possible should be a national pastime.  It’s all about working the tax code in our favor.  Everyone has the opportunity to do it.  You just need to know where your income falls in the tax brackets.

You can open an IRA and deduct the contributions.  Or take advantage of complex tax shelters.  It’s called tax avoidance and it’s entirely legal.  What holds most of us back is the complexity of the code itself.  It’s always a good idea to have a few tax tips handy.

Plan To Itemize Deductions

If you usually fall short of taking the itemized deduction, plan on it this tax season.  Generally, the larger your deduction the less federal taxes you pay.  I have yet to hear anyone complain about paying less taxes. Continue Reading…

What Are Target Date Funds?

August 21, 2012 by Jon

Target Date FundsSaving for retirement and investing for retirement are two very different things.  The savings part is easy enough.  Take a portion of your income every year and set it aside for when you retire.  It’s the investing that can be tricky.  Target date funds were created as an easy way to invest for retirement.

We all know it can’t be that simple.  The idea of eliminating the hassle of picking and choosing investments with a one stop shop retirement fund sounds good.  It’s probably one of many options in your retirement account.  But is it for everyone?

What Is A Target Date Fund?

Target date funds go by many names including age based funds, life cycle funds and target retirement funds.  They are all built around the same premise.  It’s a mutual fund built around an asset allocation based on a specific time frame or target date (usually a retirement date).

The target date mutual fund usually consists of a bundle of stock and bond funds based on its asset strategy.  The fund is designed so the asset mix becomes more conservative the closer it gets to the target date. Continue Reading…

Happy Hour: VP Nominee And A Toilet Revolution

August 17, 2012 by Jon

Welcome to the end of the week and another edition of Happy Hour!  Just sit back, relax, and enjoy your end of the week roundup of all things interesting in the land of money.

VP Nominee

Mitt Romney finally made the announcement.  I’m not sure if Paul Ryan was the best choice, but the media didn’t waste any time trying to find out.  Whether it was bashing his budget plan or his views on the Federal Reserve, it’s just the beginning.  Only 80 days until the mudslinging ends.

Toilet Revolution

The Bill and Melinda Gates Foundation has done a lot of great work over the years.  With a focus on global health, poverty, development and education, those billions are being put to good use.  Now they want to tackle toilets.  The Gates Foundation put together a funny video about this serious problem.  The entire website is worth checking out.  Who knew going number two was such an issue. Continue Reading…

Risk Basics: Inflation Risk

August 14, 2012 by Jon

Inflation RiskThere is always inflation concerns tossed around by doomsayers every year.  What they never tell you is inflation risk isn’t about the existence of inflation.  The worry should be about excessive inflation or hyperinflation and the opposite, deflation.  A healthy amount of inflation is a good thing.  That said, there are ways to protect your money when inflation risk rises.

What Is Inflation Risk?

Inflation risk can be felt on the consumer side, with the loss of purchasing power.  This falls under the time value of money and the concept that a dollar today is worth more than a dollar tomorrow.

We also see the same risk with our investments.  Inflation causes the value of money to decrease over time whether it’s invested or not.  The inflation risk exists when we have money sitting in cash or other assets not linked to inflation.  In the process, the cash value decreases due to inflation or more likely, excessive inflation. Continue Reading…

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