The Standard and Poor’s (S&P) downgrade of long-term U.S. debt from AAA to AA+ is sad, but it is not news. Everyone already knew we were in trouble and to act surprised is unjustified. Now we and our politicians can no longer deny it. It’s official, which may be good for us long-term. While the...Read More
Gone are the days when a company would reward a retiree’s long years of service with a gold watch and monthly pension. Today, old-fashioned defined benefit pension plans have been replaced with 401(k)s and Individual Retirement Accounts (IRAs). These accounts require you—not your employer—to determine how much to save, as well as how to invest...Read More
Even though there is no COLA for Social Security benefits in 2011, the IRS has raised the deductibility limits for long term care policies purchased in 2011. The premiums you pay for your long term care insurance are deductible as itemized medical expenses (subject to the 7.5% AGI threshold) based on your age at the...Read More
As you probably know, I like to write to communicate my thoughts. However, recently I have been suffering from writer’s block. I think it’s because I am in observation mode about the economy, government policy and business; trying to put the pieces of the puzzle together. Everywhere I go I ask business owners, “How’s business?” The...Read More
It’s unavoidable! Day in and day out since the financial crisis in 2008 and 2009 we have been hearing and reading about the budget deficit, stimulus packages and repeated extensions of unemployment insurance. These programs are no longer expressed in millions or billions of dollars. In fact, they seem to have skipped the billion-dollar mark...Read More
I was having lunch with a client a few weeks ago and he said, “Ron, you should write an article about how to protect yourself from Ponzi schemes.” Then last week, we had a meeting with our accountant and he suggested we do the same. He also wanted us to speak at a conference he...Read More
If, like many Americans, you are nearing retirement or starting a new job, part of the transition planning is to deal with your 401(k), 403(b) or 457 plan. For most, no solution is more sensible than establishing an IRA rollover account. There are several advantages to the move, including tax-free consolidation of retirement fund balances...Read More
