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VIDEO | How To Rollover Your 401k

Published on Nov 19, 2012 Why do you need to know the details on how to rollover an old 401(k) plan? FULL ARTICLE HERE – http://bit.ly/UP7gZK – The average person holds 11 jobs from the age of 18 to 44, according to the Bureau of Labor Statistics, and for many of us that means 11 or more workplace retirement accounts. Because not all employer plans require you to leave the plan when you leave the company, you could end up with several, disparate retirement accounts. I like to use the analogy of being a babysitter when it comes to orphan 401(k) plans. Every time you leave an old an employer and start with a new, essentially you leave a child in a backyard. If you move between three or four different jobs over five to ten years, that means you’ll have several kids in several different backyards. The real question is how will you be able to babysit all of those kids and ...

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Personal Finance 101: Generation X Series – Three Simple Steps To Managing Your 401K

Generation X is classically defined at people born between the years 1965 and 1979. Pretty much those of you in your early 30’s to the mid 40’s. However, having given personal financial advice to thousands of people, I can tell you that many of you who were born 1960 to 1964 fit within the Generation X type of financial and personal attitude. Since I am 42 and have had a good deal of financial success, I’ve noticed some big mistakes that I see my generation making with their money and how they think about money. This week I wanted to discuss three simple steps to help you better manage your 401k plan at work. For most Gen X’ers who are not business owners, the 401k plan offered through your workplace will be one of the mainstays for you to build up enough money to make work optional. Next year in April, you will begin to be able to transparently see ...

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How To Lower Your 2011 Income Taxes

The color of the trees  are changing during the beautiful fall season, and that also means it’s time to begin thinking about strategies for minimizing your 2011 income taxes before the year has come to a completion.    Remember, that when it comes to lowering income taxes, you generally have to large rock strategies.   Above the line deductions are tax deductions that reduce the amount that will end up on the taxable income line to determine how much tax you should have paid for 2011.   Below the line deductions, which mainly have to deal with tax credits that will offset the tax you owe dollar for dollar in most cases.     It is important to note that there are many strategies to keep your income taxes down, but here are four you should consider before the clock strikes midnight in 2011.  Max out your contributions to your employer sponsored retirement plan –   For most of you this will be your 401(k), 403(b), ...

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