Archive for the ‘Investing’ Category
If you’re a self employed person or are looking at taking the plunge and becoming an entrepreneur, one thing you have to consider is how you will save for retirement. Since you won’t have the option of a 401k, there are several other retirement account type options that you will want to think about using. Among them are:
- SEP IRA
- SIMPLE Plan
- Solo 401(k)
- Keogh Plan
Today I want to look at what many consider one of the better options for tax deferred investing for self employed individuals, the SEP IRA
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Retirement Savings: 401k Matched, Roth IRA Maxed, Now What? Financial planners occasionally squabble over whether or not to invest in a 401(k) or open a Roth IRA. Most agree that passing up matching funds in a 401(k) plan makes little sense, so it's probably best to start there. After taking advantage of those matching funds by investing through the...... -
Self Employment Tax For those who are self employed, the self employment tax and the burden it imparts is a major stressor that can make things tense for those with their own businesses. All it takes is a small bit of time and know how to overcome the burden. The first time you......
The Shangri-la is the tallest building in Vancouver. The first 15 floors are occupied by the five star Shangri-la Hotel. Above the 15th floor are 306 residential units, consisting of 234 general live-work homes on floors 16 to 43 and 66 private access residential units on floors 44-60 and two penthouses on floor 61 and 62.
Of the two penthouses in the Shanghri-la, Penthouse 1 was the one to buy. Penthouse 1 offers 5,875 square feet of unparalleled living at the top of Vancouver and features a private lap pool and hot tub, Boffi cabinetry, natural oak hardwood floors in a chevron patter throughout, a private internal elevator, upper and lower master bedroom suites and distributed audio and lighting control systems. It was offered for sale at $17.3 million and was recently sold to an anonymous buyer.
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Retire in a Foreign Country - Ecuador Although retirement in a foreign country is something that we baby boomer think about, Ecuador is not one of the countries that immediately comes to mind. Maybe it should be. Most boomers understand that a prime reason for considering retirement outside the U.S. is luxury living at lower cost. According...... -
Establishing Remodel Cost: Home Remodeling Critical First Step Nothing ruins a fantastic remodel more quickly than exceeding the project budget. Why is this phenomenon so common in residential remodeling? Simple: Many homeowners struggle to establish a detailed budget at the appropriate time in the course of the project. Why is establishing remodel cost one of your most important......
Back in December of 2008, I wrote a post explaining why you should never live on cash. The post was met with a lot of comments saying I’m wrong and credit cards are bad because they are too easy to abuse. I say you’re just not a financially responsible person if you live on cash.
Paying With Cash Cost You Money
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3 Credit Card Tricks That Keep More Money In Your Pocket Most adults across the nation have at least one credit card and use that credit card to make purchases on a monthly basis. Credit card companies love the fact that these people are using are using their credit cards more often because it gives the company more chances to try...... -
3 Simple Methods To Save Money On Your Credit Card Purchases In recent years, more and more people have begun to use their credit cards for everyday purchases instead of using their credit cards for special purposes. Commercials have been running for years trying to encourage people to use their credit cards for everyday purchases and many credit card companies have......
What The Government Can Teach You About Personal Finances
When it comes to the government and money there are a lot of diverse opinions. No matter what you think about the government’s fiscal responsibility, one thing is for certain. Many Americans could learn at least one lesson from the government that will transform their personal finances.
What the Government Knows About Taxes
In the book, The Automatic Millionaire, David Bach spurs the question, How does the government always get their taxes?
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20 FREE THINGS YOU CAN DO TO PUT MONEY IN YOUR POCKET Although these tips are written for business owners, many of these tips can be used for everyday people as well to save and make money. They can be done immediately, and over the course of a month or a year, you will find more money in your bank account. 1)...... -
The Importance of Automatic Savings Automatic savings is quite possible the best thing that’s ever happened to the savings account. In the old days, you had to go to the bank and deposit money into your savings account every week or every month. It was way too easy to procrastinate and skip your regularly scheduled......
Over the past week we’ve been writing quite a bit about retirement accounts, which ones are better for different situations, and talking about what the Roth IRA contribution limits are. Now I want to talk about another hot topic in retirement accounts, the 2010 Roth IRA conversion.
In case you haven’t heard all the buzz, this year marks a one time Roth IRA conversion event in which people can convert their traditional IRA’s, SEP IRA’s, Simple IRA’s, old 401k’s, old 403b’s into a tax free Roth IRA account. Because of the conversion event, waves of people are expected to take advantage this year and convert their traditional taxable investment accounts into tax free Roth IRA accounts.
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Financial Planning 101: What To Do with Sudden or Unexpected Cash? A friend and reader of this blog posed an interesting scenario to me this week. One that I, or almost anyone else for that matter, would be rather shocked to see waiting for them in their email inbox prior to their ritualistic 8 AM cup of java. Matt - What...... -
Federal Tax Brackets & Law Changes For 2009. So what changes do we have in store for the 2009 tax year? Each and every year there are small changes to the ridiculously large and wordy tax code, but most of them will not effect the average taxpayer. (Good thing, really - who wants to know all of that......
A couple of months back the IRS released their 2010 Traditional and Roth IRA contribution limits. It’s important to keep an eye on those limits year to year if you’re contributing to one of these account types. As was expected the 2010 Traditional and Roth IRA contribution limits remain the same for the coming tax year.
2010 Traditional And Roth IRA Contribution Limits
The Traditional and Roth IRA contribution limits for the 2010 tax year are $5,000 for those under the age of 50. If you’re over 50 you have the option of making catch up contributions to your account, which brings your limit to $6,000.
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Old 401k Does Well I left my previous company last March and therefore stopped contributing to the 401k. I was planning to roll it over into a rollover-IRA but didn't get around to it. Luckily I did check in a few times to make sure the asset allocation was ok and I'm glad I...... -
How To Save Money And Go Green in 2010 Are you a homeowner looking for ways to save money on your household expenses and reduce your taxes? Are you tired of high energy bills? Do you want to make a personal contribution to improving our environment? You can go green and save on your tax bill at the same......
Peer To Peer Lending Is Legitimate
I first heard about Lending Club and the whole peer to peer lending movement earlier this year when other bloggers were constantly writing about the program. At the time I dismissed the whole concept because I was thinking that it was a high risk gamble where most of the borrowers were big credit risks, and couldn’t get another loan somewhere else. I figured that they would probably not end up re-paying the investors. The high returns had to come some relatively high risk as well, right?
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Get 5% Cash Back From Lending Club This news may be a little old to some, but it looks like Lending Club is trying to bring in more lenders. If you lend $5000 or more before the Super Bowl, they'll deposit 5% in your account for you. (Okay it's not really before the Super Bowl, you've got...... -
Lending Club Review 2010 –A Full Review of Lending Club’s Peer to Peer Lending Website As banks have cut the amount of lending that they do, individuals are increasingly turning to peer-to-peer lending companies, such as Prosper and Lending Club, as a source to get a personal loan from. Meanwhile, individual investors are taking advantage of the loan demand on Prosper and Lending Club......







