Archive | Financial Planning

72 breakeven years

Younger than 59 1/2 and need money from your IRA?

Most people are aware that they need to wait until they’re 59 1/2, or older, to withdraw money from their IRA without tax penalties. Many are unaware that they could, if needed, withdraw money from their IRA without penalty. This post isn’t about what is called 72t or Substantially Equal Periodic Payments per se. There […]

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Are you a beneficiary of a trust?

What are your rights when you’re a beneficiary of a trust? What if you’re NOT the trustee, but only the beneficiary, and you are having trouble getting information from the trustee. You see the trustee is responsible for administering the trust on behalf of the beneficiaries – not for themselves, unless the trustee also happens […]

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What the Young Need to Know of Wealth

… and the not so young too. Turns out that the shift from benefits to contributions has caught the unaware and unobservant off guard. Long ago families lived near each other and took care of each other. With industrialization across the globe families began to move to industrialized centers (which became cities) and family care […]

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monthly payments

Budgeting – obsolete!

I can’t write this any better than Michael Kitces, so here’s his quote about the article by Helaine Olen linked to below. “Toss Your Budget. Why a pillar of personal finance isn’t nearly as essential as we think.” Quote: Toss Your Budget (Helaine Olen, Slate) – Despite the ‘conventional wisdom’ of budgets, a recent Gallup poll found […]

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Are There Any Disadvantages Associated With Paying off a Mortgage Early?

People tend to dislike debt of any kind. They also tend to believe that they don’t own their home until the mortgage is paid off. One should distinguish the different kinds of debt into good, necessary and bad. Mortgages are actually in the good debt category (rather than restate reasons, you may read the distinctions […]

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How Should You Buy a Car in Retirement?

You are retired and need to replace your car. How do you do that? Buy it with cash? Or get a loan? The answer is not a simple as one might think – it depends on how old you are and how expensive the loan and/or car are. This question refers to those who are […]

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What an Advisor Should Give @AdviceIQ

Many people think all they should get from their adviser is advice. However, thinking of them as a guide provides a much deeper understanding as to what you should get from them. Insights into things you hadn’t consider and pointing out things you would have missed are just a couple of things guides give. Read […]

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