Where is Your Savings/Emergency Fund Parked?
The idea that your savings/emergency fund is supposed to be in a very liquid account is an idea I hope everyone understands and practices. However, where is the best place to park your savings?
Until the credit crisis, money market funds were enjoying returns around 5%, but now are seeing their yields sink below 2%. On [...]
Stop Paying Taxes on Work Bonuses—Legally
Christmas is around the corner and for many, this means it’s time for the annual work bonus. If you work for a publicly traded company, I hope your bonus is not tied to your stock price, or you might owe your company! What is the best way to handle a bonus? Save it? Blow it? [...]
Borrow From Your 401(k) Account with a Debit Card No More?
We can’t stress enough how important it is for everyone to participate in their companies 401(k) retirement program, especially if there is a match involved. Sadly, people are starting to tap their 401(k) accounts early and easily by using a debit card linked to their retirement funds.
Debit card 401(k) withdrawals were actually created thinking people [...]
Give the Gift of Stock
At least twice a year, most of us are task with the job of finding the perfect gift for a nephew, grandson, cousin, or grandchild. Every Christmas and birthday are a must, but it doesn’t stop there, you have graduations, confirmations, and the list goes on. What do you get year after year for the [...]
The Best and Worst Discount Brokers
I have always wanted to be the guy whose phone rings in a crowded room and say, “Excuse me, I have to take this one – it’s my broker.” Unfortunately for me, this big-headed moment probably will never come, thanks to the rise of discount brokers. Discount brokers like E*Trade and Fidelity, are companies that [...]
Withdrawal IRS Stimulus Payment From Your IRA Penalty and Tax Free
By choosing to have your 2007 tax refund directly deposited into an individual retirement accounts (IRA) or any other tax-favored account, your stimulus payment will follow suit and also be directly deposited into the same tax-favored account. But don’t worry, the Internal Revenue Service (IRS) is allowing you to withdrawal your money tax-free and penalty [...]
Use Credit Card Rewards Programs to Save for Retirement
Participating in your employers 401(k) match program allows for a great way to accelerate your retirement savings, but have you ever considered using your credit card rewards program as a means to save? Although rewards programs are all over the map in their offerings, certain programs present a great way to add to your future [...]
Investing in Real Estate vs. Stocks – Which Is Best?
For years, the United States Government has encouraged citizens to become homeowners, primarily with tax incentives like deductions from mortgage interest, mortgage points, and property tax. However, if the U.S. Government was held as a fiduciary by encouraging home-ownership, our tax breaks might subside based off recent numbers highlighted in a recent Washington Post article [...]
When Should I Buy Into The Stock Market?
A volatile market, such as we are currently experiencing, can make timing the market seem impossible. When should you pull the trigger and buy into this unstable market? In my opinion, the best time for many is now. I am not saying this because of the current financial crisis, the announcements of possible mergers, or [...]
United State’s Newest Epidemic – Insufficient Financial Literacy
Opinion -
Congress, regulators, and the financial services industry are pointing fingers at each other in an attempt to pass the blame regarding who is at fault for our current credit crisis. In reality, everyone probably shares a piece of the blame; however, to leave a lack of sound financial literacy out of the equation [...]
Where to Bank Online?
One of the main reasons we decided to start putting together a blog for people was because of the idea that you could make your money work harder for you, hence milking it. One of the best ways to do that obviously, is to put your money into a high interest bearing account so that [...]
Milk Your Economic Stimulus Rebates
The U.S. House of Representatives and the Senate have finally passed H.R. 5140, an economic stimulus measure that will put money into taxpayer’s hands. President Bush is expected to sign the bill into law in the coming days. The IRS thinks they should get the checks in the mail sometime in May, which leaves [...]
