Take Your RMD!
A quick reminder: If you are age 72 or older, you MUST take a Required Minimum Distribution (RMD) before year end from your traditional retirement accounts (not Roth). The penalty for failure to do so...
View ArticleGet Ready for Taxes, Again
Well, here’s a topic I hate to bring up this early in the year, but it’s time to think about filing your 2021 income taxes sometime in the next two months! Because of holidays, the official tax filing...
View ArticleMoney Magic
If you’re going to read just one financial book this year, read Money Magic by well-known economist Laurence Kotlikoff, who also co-authored the definitive book on Social Security, “Get What’s Yours.”...
View ArticleClik here to view.
Navient Student Loan Settlement
The $1.7 billion dollar settlement with Navient that 39 state attorneys-general just announced has millions of student loan borrowers hoping they will get out from under the burden of their debt. But...
View ArticleRetiree Medical Costs Soar
If you’re a retiree dealing with Medicare, you’ve just noticed that your increased (5.9%) Social Security benefit is being reduced substantially by rising costs for Medicare Part B and Part D (your...
View ArticleTerry’s Latest Podcast: Wild Markets
You may not know that I post a weekly podcast with my friends Pam Krueger, founder of Wealthramp, and Richard Eisenberg of PBS’ Next Avenue. This week’s podcast is a discussion of the wild markets of...
View ArticleChicken Money Update
It’s not fair that savers are losing money by trying to keep their money safe. With inflation running at 7% and the average money market deposit account paying only 0.5% savers are losing out to...
View ArticleSinkhole Cities
The American Rescue Act sent $350 billion of federal tax dollars to states, cities, and tribal governments around the country to help them offset the costs and impact of Covid. That’s on top of the...
View ArticleA Financial Valentine
Give someone you love – or yourself – a financial Valentine this week. Americans are expected to spend $21 billion this year, expressing their love in this season of hearts and flowers. But you can do...
View Article1099k for Zelle, Venmo, Paypal Users
The IRS is taking a closer look at your fintech transactions. Starting in 2022, any transactions exceeding $600 and made through payment cards or apps (think Venmo, PayPal, Zelle) must be reported by...
View ArticleCreate an IRS account for info
The IRS has admitted it still has more than 11 million returns from last year (2020) to review! Yes, they cashed your check or accepted your direct deposit, but for one reason or another those returns...
View ArticleAnd THIS is good news???
So the market rallied today (Friday). It rallied starting midday Thursday on the news that the sanctions on Russia would not be so severe as to disrupt the European economies or the banking system or...
View ArticleBeneficiary Bet
I can’t stress enough the importance of naming the “correct” beneficiary for your retirement accounts – IRA, 40l(k), and 403(b) plans. It’s equally critical to update the named beneficiary on your old...
View ArticleTerrys 5 Tips for Spring Personal Finances
This is the typically the slow season of the year for personal finances – a perfect time to get things in order. I firmly believe that if you leave financial projects undone, you are tempting fate....
View ArticleLast Chance Mortgage Refi
If you waited and waited to refinance your mortgage, only to see rates rise recently, you now may have one last chance. But it’s a narrow window. The Fed has made headlines, promising to raise rates...
View ArticleWhat’s in Your Retirement Portfolio?
The volatility of the stock market based on fighting in Ukraine and soaring gas prices presents a significant challenge to your future if you’re nearing retirement or already in it. Over the long run –...
View ArticlePros Don’t Beat the Markets!
Do you think you can “beat” the market? Well, take a look at these new statistics. Even the highly-paid money managers fail dismally at the challenge of beating their benchmark indexes. This morning...
View ArticleWhere to get FREE TAX HELP
As I was answering a post on my blog this morning, I realized that many people may be missing out on big refunds this year — simply because they don’t know how to claim them. (Please read my nearby...
View ArticleChildren Worth Tax Refunds
When tax time comes, your children can be worth a lot of money – even if you didn’t earn any income. There are two main tax credits that apply to children, and they are frequently confused. One gives a...
View ArticleMoney and Marriage
The spring wedding season is upon us, and around the country brides, grooms and their parents are making arrangements for extravagant celebrations now that the Covid era is (hopefully) far behind us....
View Article
