public school teacher

Are Government Workers Being “Fleeced” by 457 and 403(b) Plans?

Are state and local government workers, as well as public school and university employees, being fleeced by the insurance companies who have a lock on offering them retirement plans? That’s the charge in the recent article by Edward Siedle in Forbes, as he exposes the “massive looting of government and educational workers that’s been going on for decades.” Those are fighting words, indeed. But […]

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consolidate accounts

5-Minute Fix: Time To Consolidate Old 401(k) Accounts

In a recent post, we mentioned how frequent job hopping can do a number on your retirement savings.  One of the consequences of job-hopping is that many workers leave behind a trail of small, easily-neglected 401(k) accounts. Here’s a 5-minute fix that let’s you get these forgotten accounts back working hard for you: According to data from the Bureau of Labor Statistics, there are probably […]

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job hopping

Job Hopping Can Be Dangerous To Your Financial Health

Job hopping can hurt your ability to retire on time, says a recent article in U.S. News & World Report. Baby boomers and younger workers are job-hopping at record rates.  Younger baby boomers (born between 1957 and 1964) have held an average of 11 jobs by age 46, says the Bureau of Labor Statistics. While about […]

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mom&daughter financial literacy

Quote Of The Week: Financial Literacy Begins At Home

“Like most of life’s important lessons, financial literacy begins at home.” Frederick P. Gabriel Jr., editor of InvestmentNews, September 9, 2012,  Help your clients’ kids avoid maxing out In a recent article, Gabriel explains how he learned some financial lessons the hard way: “I will be the first to admit that I knew nothing about handling […]

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Are Millennials “The Screwed Generation”?

It’s controversial, thought-provoking and definitely worth a read, especially if you have “millennial,” or Generation Y, offspring between the ages of 18 and 35. Newsweek magazine shook people up with their July 2012 feature by Joel Kotkin called “Are Millennials the Screwed Generation? ‘Boomer America’ Never Had It So Good.  As A Result, Today’s Young Americans Have Never Had […]

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older investor

“What Do I Do When I Get Stupid?”

Finance professor Lewis Mandell was taken aback when asked by a former student, now a physician, about how to handle his investments when he got older: Asked the doctor —  “My concern is—what do I do when I get stupid?” It may not be the most eloquently put, but it does express the concern we all […]

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young adult credit

6 Steps To Help Young Adults Build Good Credit

We were recently asked by a client how their young adult child could start building a good credit record. That’s an excellent question.  Parents should realize that learning how to use credit responsibly is important for their child, and it’s good to start early to build a good credit rating (the longer your child has had credit in their name, […]

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What If Your Ship Isn’t Coming In After All?

According to USA Today, many young people in Generation Z, those ages 13 to 22, will be sorely disappointed when the inheritance they are expecting doesn’t materialize. A recent TD Ameritrade study reported in the newspaper found that nearly 40% of Generation Z expect to receive an inheritance, and “as a result, they don’t believe that […]

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small business

Entrepreneurs: How NOT to Retire Rich

Last week’s Wall Street Journal featured an inspiring story about entrepreneurs who can’t retire because they are unable to sell their business for what they think it’s worth.  Unfortunately, it’s inspiring mainly as a case study of what not to do when you own a business or are self-employed. The entrepreneurs interviewed for “The Economy Stole My Retirement” article […]

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social security check

A “Costly Retirement Surprise” In Retirement

File this one under “what you don’t know can hurt you.” Many clients are surprised to learn that they are likely to owe taxes on their Social Security income. Social Security benefits are tax-free only to recipients at lower income levels. Once your income exceeds a certain amount, the IRS starts assessing income tax on up […]

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