Traditional IRA vs. Roth IRA

There are actually 11 different types of IRAs, but the ones we hear the most about are the Traditional and Roth IRAs. Let’s look at them both to understand their differences. Read more

5 Ways to Avoid An Audit

Every year Uncle Sam puts on his reading glasses, and examines almost 1.5 million tax returns a little more closely. Avoid sending red flags to the IRS this year and increasing your changes of being audited by keeping a few things in mind when filing your return this year. Read more

5 Ways to Negotiate a Better Severance Package

Layoffs are at 25 year high, and that means it is not only is harder to find a new job but your savings and severance package has to last longer while your out looking for a new one. To get the best severance package, be prepared to negotiate as soon as you get the news. Many employees sign the first offer they are given, not realizing severance packages are negotiable. Companies create a budget for layoffs and often put aside reserve funds for unexpected issues. The reserve can be yours for the taking if you negotiate right. Read more

Top 5 Mistakes First-Time Homebuyers Make

With home prices and mortgages at record lows, many first time homebuyers think it is the perfect time to buy their first home. For many it is the right time to become a homeowner, but there are a few common mistakes many first-time homebuyers make. Read our top 5 pitfalls below and learn how to avoid them. Read more

D.I.Y. Credit Repair

Does the following ring a bell?

“What’s in your wallet?”
“There are some things money can’t buy.  For everything else, there’s MasterCard.”
“It’s Everywhere You Want to Be.”

Yes you guessed right, these are the ad slogans of leading credit card companies.  Swipe here, swipe there; swipe it anywhere!  It is convenient to have credit cards but gruesome to pay accrued credit card bills.  The result:  bad credit.  If your credit is ruined, how do you repair it? Read more

Understanding the Capital Gains Rate Tax

To be successful in investing, thinking long-term is the way to go.  You’ll have a higher chance of earning more money and also have a lower tax rate when you sell. This tax rate, called the capital gains tax rate is a tax charged on all capital gains, or profits made when selling such assets as stocks, bonds, precious metals and property.
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72t IRA Distribution – What Is It and How Does It Work?

Early retirement means you are cutting off a stable and constant source of income – your compensation income or salary.  If you are going to retire early, you should think about the retirement package you will receive and ponder whether it will be sufficient to provide you enough money on which you and your dependent can live on – probably for the rest of your life.  You should also decide whether you should take everything in a one-time, big-time payment and pay the corresponding taxes or perhaps settle for a 72t IRA (Individual Retirement Account). Read more

What is the Roth IRA?

The Roth IRA (Individual Retirement Account) is a personal retirement savings account providing tax advantages while allowing US citizens to save for retirement.  Named after Senator William Roth of Delaware, the chief legislative sponsor of the bill, the guidelines and parameters went into effect in 1998.  Read more

Till Debt Do Us Part: Becoming Debt-Free with Debt-Assistance-Today.Com

Ideally speaking, we should owe no other person anything except a debt of love or gratitude.  This is hardly an ideal world, however, and people eventually find themselves owing much more than that.

So what should they do about it?  At this point, they have a choice:  they can give up and go the file-for-bankruptcy route, or they can tread the road less traveled and ask for help from those in the know.  There are consultants for every discipline imaginable, even the discipline of getting out of debt and staying out of debt. Read more

Economy in a Democrats’ Mind

When businesses are booming, the Republicans dominate.  Yet, when businesses are dying, the Democrats get the throne.

Why is this so?  And now that the US economy is ailing, will the Mighty “D’s” bring home the bacon?  Economists believe they will do so.  Democrats are geared towards the progressive economic philosophy.  To them, it is the government’s duty to monitor and regulate the economy.  It is their belief that government spending, e.g. deficit spending sets the economy as well as the stock market in a better form.  Hence, growth and a booming economy are within easy reach. Read more

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