Kevin MulliganWhy would you give the government an extra cut out of your retirement nest egg if you didn’t have to? We all work too hard and save too diligently to just willingly give the IRS a bigger piece of our retirement pie. If you ever end up paying an early withdrawal penalty for taking funds … Read more
Do retirees have to file a federal income tax return? You might think that the days spent filing an income tax return each year is behind you once you are retired. However, being retired doesn’t necessarily get you out of filing a return with the IRS. In fact, you may want to file even if … Read more
When considering your options to invest either for retirement or just with the extra money you have, your bank should be one of the last places you consider. Banks are places you keep money in savings, certificates of deposit, and checking accounts; NOT places you want to invest funds for the future. If you never … Read more
Could the phrase “time is money” actually be right and not just a commonly used quote? One of the most critical concepts to understand in the realm of personal finance is the time value of money. A solid understanding of this concept can change your view of many financial decisions, and in the end, save … Read more
In many cultures around the world negotiation is a part of every day life. No one pays the listed price for an item; you haggle until an agreement is reached. In American society this is practically unheard of. We tend to see the price tag, determine if we can afford it, and swipe the credit … Read more
Previous generations have been taught that a college degree ensures a higher paying job. In recent years, college graduates are finding that no longer holds true. In fact according to the US Bureau of Labor Statistics 8 of the 10 fastest growing jobs do not require a college degree. That isn’t to say formal education … Read more
Do you have some money you need to invest for a short period of time? Maybe you’re saving up for a house and want to earn a little bit of return while you build up your down payment. Or you’re planning a big vacation next year but don’t want the money to just sit in … Read more
Have you ever been caught off guard by an annual expense that you had forgotten would need to be paid this month? Maybe you pay your life insurance with one payment every year or your dog needs to get shots every 6 months. An unexpected annual bill that pops up in a tight financial month … Read more
For both individuals and small businesses, keeping track of all the important tax and money due dates throughout the year can be overwhelming. Forgetting a deadline is an extremely costly mistake in most cases: you end up paying fees and penalties for slipping up. Don’t let a lack of organization cost you; here’s a list … Read more
If you are lucky enough to have a pension plan at work, your next concern is how much you can actually depend on it when you get to retirement. In other words, is your pension plan just a nice piece of paper that will be useless in retirement or will you be able to count … Read more