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PRESCOTT VALLEY – After failing to place his first two attempts at the Division I state tournament, Jeremiah Imonode finally found the podium.
Nearly a quarter of all 18- to 34-year-olds report they have moved back in with their parents after living on their own. This may not be every parent’s dream, but those who find their once-empty nest a little more crowded can take heart: Your new housemates may provide you with some sizable tax benefits.
It’s a good thing to have some savings. When you put the money in a low-risk account, you can be pretty sure it will be readily available when you need it. Nonetheless, “saving” is not “investing” — and knowing the difference could pay off for you far into the future.
You need to save and invest as much as possible to pay for the retirement lifestyle you’ve envisioned. But your retirement income also depends, to a certain degree, on how your retirement funds are taxed. And that’s why you may be interested in tax diversification.
Your 401(k) offers tax-deductible contributions, tax-deferred growth of earnings potential and a variety of investment options — so it’s a great tool for building retirement savings. Yet, like all tools, your 401(k) must be used properly to get the best results. That’s why you should review your 401(k) at least annually and make whatever adjustments are needed.
For a variety of reasons, many people, particularly those in the baby boom generation, are considering retiring later than they might have originally planned. If you’re in this group, you’ll want to take full advantage of those extra working years by contributing as much as you can to a retirement plan that can help you build resources, defer taxes and, ultimately, maximize income. And if you own a small business, you’ve got some attractive plans from which to choose.
Dealing with your grief when a loved one dies is hard enough. But often you may find yourself in a situation where you have to deal with financial and investment matters as well. The feelings of uncertainty about what to do next and who to consult can be overwhelming. The following suggestions may help guide you through the process.
As an investor, how can you avoid making mistakes? It’s not always easy, because investing can be full of potential pitfalls. But if you know what the most common mistakes are at different stages of an investor’s life, you may have a better chance of avoiding these costly errors.
Throughout your career, you have been working hard to save in one or more retirement accounts. Then, once you retire, you’ll have some new decisions to make. But one choice has already been made for you: the age at which you must start taking withdrawals, or “distributions.” It’s a good idea to familiarize yourself with these distribution rules because they can have a big impact on your retirement income. And you may even want to take action before the end of the year.
The accompanying chart graphically displays the unvarnished truth about how David Cavazos worked Phoenix’s pension system to his total advantage.
At many places of work, it’s “open enrollment” season — the time where you get to make changes to the various benefits you receive from your employer. As you review your overall benefits package, what areas should you focus on?
Congress has designated the third week in October as National Save for Retirement Week — which means it’s a good time to think about your own retirement savings strategies.
Financial-services firm Edward Jones has introduced an income management account designed to help investors simplify, track and access income from multiple sources, according to Joseph B. Ortiz, an financial advisor in Ahwatukee.
Did you know that you could take charge of your own retirement funds and invest them in virtually anything that you believe can make you money, and where they are more secure from market fluctuations?
You probably have thought about what you’d like to do during your retirement years. But all your plans probably depend, to at least some extent, on your financial situation. What happens if you reach the age at which you wish to retire and you just don’t have the money you thought you’d have?
Children have the ability to earn $6,100 per year and pay no tax. They have the ability to earn in a number of different ways, including from their own labor, either working for someone else or working for their parents. Children also have the ability to be compensated for the use of their image in advertising or any other profitable venture. These earnings will vary depending upon what they do and how creative their parents can be at utilizing their image and profitable endeavors and then compensating them for that employment.
Fall is almost officially here — and if you’re like most people, you’re probably wondering how summer went by so fast. Those trips to the lake or the beach are fading in memory now, giving way to helping kids with homework, raking leaves and the other rites of autumn. And just as your day-to-day tasks change with the seasons, so, too, will your money management and investment activities at different phases of your life.
National Grandparents Day is observed on Sept. 8. And although this “day” is not as widely known as Mother’s Day or Father’s Day, it does remind us of the importance of grandparents. If you’re a grandparent yourself, you may be thinking of ways to help your grandchildren on their journey through life. One of the greatest gifts you can give them may be financial support for their college education — and one way you can help provide this support could be found in the distributions you receive from your retirement accounts.
We observe Labor Day on Monday. A federal holiday since 1894, Labor Day celebrates the achievements of American workers — people, like yourself, who work hard for their money. But to make progress toward your long-term financial goals, you need to do more than just earn money — you have to invest it wisely. And that takes work, too.
This Tuesday, Aug. 27, will be the final day to vote in the Phoenix City Council election.
Almost everyone would agree: Moving is a hassle. In addition to selling your current home and finding a new one, you may need to deal with a new school for your kids, a new doctor, a new dentist — the list goes on and on. But you’ll also need to consider the financial aspects of your move — specifically, your investments, insurance, taxes and even your estate plans.
If you’re somewhat familiar with investing, you may know that the Roth IRA is a great retirement-savings vehicle. But are you aware that some of its benefits can also pay off for the next generation of your family?
If you’re planning to get remarried, you have plenty of company: More than 40 percent of all U.S. weddings are second marriages for at least one of the participants, according to an estimate by the National Stepfamily Resource Center. Naturally, a second marriage will bring many changes to your life — not the least of which may be changes in your financial strategy and goals.
Will you ever receive a sizable inheritance? You can’t plan on it. But if you do get one, you can plan on using it to help achieve some of your key financial goals.
State lawmakers were moving toward finally adjourning their 151-day session late Thursday -- but not before setting the stage for constituents to have to start paying taxes on what they buy from catalogs and on the World Wide Web.