Roth IRA

Life Insurance Currently Jack Wilson has a group term policy provided through Texas Tech University at a cost of $5,472 a year. The policy provides a $200,000 death benefit but the cost of the policy keeps going up as Jack gets older. The goal of the life insurance section is to find the most cost effect way meet the goals of the surviving spouse in the event one spouse passes away prematurely. Life insurance should be purchased if the goals will not be met. We calculated the amount of life…

It is never too early to start preparing for tax season. Tax season will be a lot less stressful if you start preparing for it ahead of time. Below is a list of three things you can do in order to prepare for tax season: Examine Your Check Books And Records One of the first things that you will need to do in order to prepare for tax season is to get your finances in order. You will need to spend some time examining your check books and records. Make sure that everything is accurate, organized…

bracelets at the annual art fair in Plymouth, Michigan. Consequently, I have learned the importance of tracking income and expenses for tax purposes, among other reasons. Over the course of my ventures, I decided I had enough excess money to start a Roth IRA; however, this meant I needed to report my income. The first year I contributed to the account, I put in over one thousand dollars and had to pay self-employment taxes. Preparing for the following years, I carefully read the laws about…

Personal Financial Goals – Part The thought of looking at your personal finances can be horrifying. Am I going to meet my debt commitments? Will I have enough to retire? The Quick family has seen the low side of financial happiness as well as been very blessed. Following are the financial goals in the short term, intermediate and long term. Our short term goals are to pay all bills, buy groceries and have a small entertainment budget monthly. We paid off a motorcycle so what would have been…

in a retirement plan*: As you plan to retire at 55, we know that it is important to you to have a hassle free, peaceful retirement, so that you can spend your time with your family and loved ones. To ensure this happens, we recommend investing in Roth IRA with our company. Investing in the…

If the system is not broken, why take steps to fix it? This is a grammatically correct spin on the old adage that seems to haunt humanity, and the American government in particular. It is often difficult to see impending doom until it is too late to tell. Social Security was created in 1935 in response to a national crisis that started with a stock market crash, continuing with years of economic decline. What started as a simple way to help older Americans recover what they lost for a few years,…

Receiving a windfall is, no matter what, a very emotional and stressful time. If your family member passes along a large inheritance to you, you want to ensure you do everything in your power to intelligently and diligently allocate the funds into appropriate channels. So, how do you make the best choices after receiving a sudden influx of cash or assets? We’ve outlined a few steps to take to help you make rational decisions. • Take a step back. Oftentimes, the best step to take is to not take…

He can however participate with a Keogh plan, Roth IRA or a Simple plan. He can choose Keogh plan because he is self-employed and it allows self-employed individuals to contribute the same amount and have same benefit limits as profit sharing plans. Yes Yes he is required to cover his employees…

free time when she is off. She still currently works full time and this helps keeping their health care premiums down due to healthcare being provided by her employer. She has also taken part in the saving for her retirements with a 401K and a Roth IRA to save for retirement. As her spouse has done she also increases her contribution towards retirement and is looking forward to her retirement in the future. The positive side for husband retiring first is the increase assistance with everyday…

Current Fund Observations: We have looked over your current portfolio. We believe you have done a great job monitoring your investments. You have several different retirement accounts and you were proactive in getting these accounts invested early. You also have a variety of funds in each account. We would like to make a few recommendations to reflect your risk tolerance, risk capacity and risk need. Portfolio Analysis: We have observed some areas of improvements we would like to…