The Washington Post recently reported that for the first time since the 1930s, a majority of Americans are expected to be financially worse off in retirement than their parents. This conclusion, based on research from the U.S. Senate Committee on Health, Education, Labor and Pensions, the New School for Social Research, and Boston College’s Center…
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According to a recent survey from UBS Wealth Management Americas, long-term care is investors’ greatest personal financial concern. Donald Jay Korn in On Wall Street (a SourceMedia publication for the financial services industry) reports that more respondents were “highly worried” about “being able to afford healthcare and the support I need in my old age”…
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Scott Shane, professor of entrepreneurial studies at Case Western Reserve University, writes in Entrepreneur Magazine that small-business owners don’t save enough for their retirements. Citing senior economist Jules Lichtenstein of the Small Business Administration, he finds that self-employed people are less likely to have a retirement plan than people who work for others. The statistics…
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Were you aware of a little-known tax credit called the Saver’s Credit? Low income workers who save for retirement using a 401(k), IRA, or Roth can earn a tax credit worth up to $1,000 for individuals and up to $2,000 for couples. Formally known as the Retirement Savings Contributions Credit, this tax credit was first…
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You may not be aware that you can utilize a retirement plan for investments other than stocks, bonds, and mutual funds. There are numerous custodians that will help you take the money in your retirement plan and buy land, paintings, unregistered securities, or even self-finance a new franchise or business start-up. And you get to…
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I’ve written often about the importance of saving for retirement. And also about the value of starting as early as possible to maximize the compounding of your returns over time. Well, why not start saving as a child? With a little help from you, even your younger children can start a Roth IRA to shelter…
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