Master Your Personal Finances. Build True Wealth. Live A Better Life.

Saving For College: Traditional & Roth IRA Plans

Using An IRA For College Expenses

Using a Traditional IRA or a Roth IRA as a savings plan for college expenses. Earlier in this series I discussed using 529 Savings Plans and Cloverdell Education Savings Account (ESA) to help pay for college. In this installment I’ll go over how you can use Individual Retirement Accounts (IRAs) to pay for qualified educational […]


3 Essential Financial Conversations You Need To Have Today

Important Financial Conversations

There are 3 critical discussions you need to have with your spouse or partner to ensure a financially sound and happy home life. Whether you’re newly married or been together for decades these 3 topics are essential and if you’ve haven’t already you should set aside some time to go over and discuss viewpoints on […]


Retirement Plan For The Millennial Generation

Millennial Generation Retirement

4 Essential Steps You Need To Take For A Comfortable Retirement The other day I ordered breakfast from McDonalds, and was so saddened by the woman who took our order.  She was a sweet old lady about 85 years of age.  “Why is this woman still working?” I thought to myself.  Perhaps she was bored […]


Ways to Gain Financial Independence

Financial Independence

Everyone wants to gain financial independence of course. But very few people actually have it, or take the steps to achieve it. Luckily it is actually very simple once you get started. Financial independence should not be confused with being wealthy, it simply means that you are comfortable in your financial shoes so to speak. […]


10 Things You Didn’t Know About Social Security

Social Security Secrets

On August 14, 1935 President Franklin Roosevelt made Social Security law, so in honor of its 75th birthday we thought we would let you know a little bit more about this sweeping legislation. All employees are required to pay into the system and it is the largest income source for most Americans 65 and older. A government program this big is filled with many aspects that are not widely known. Here are 10 things you may not know about Social Security


10 Interesting Facts about Traditional IRA’s

Traditional IRA Facts

1. Traditional IRA’s are never joint accounts.  They are meant only for the individual. 2. There is no minimum age requirement to participate in traditional IRAs.  Your children can have a Traditional IRA as long as they have earned income. 3. However, you must be under 70 ½ in order to make contributions to a […]


How to Identify the Right Stocks to Invest In

How to find the right stock to invest in

Today I was reminiscing back to March of 2009, when the Dow Jones Industrial Average crashed and hit a low of 6,627.  The last time the Dow Jones reached that level was back in 1997.  It seems like a whole decade was lost during this stock market crash of 2009.  If you invested money in […]


Hedging against inflation: Precious Metals investing in your IRA

Precious Metals Investing

When investing and planning for retirement, it is important to diversify into different asset classes in order to minimize financial risk. One such way of “spreading the risk” in your portfolio is to include nontraditional assets as part of your investment strategy. Many people don’t realize that other investment options exist for their IRA’s instead of just the traditional stocks, bonds, and mutual funds they are accustomed to. One such example is investing in precious metals in order to hedge against inflation.


6 Ways Couples Can Maximize Social Security Payouts

related posts

Couples who are currently married, or who have stayed together at least 10 years, tie their working records—and the resulting Social Security checks—together as long as they both live. In the case of Social Security payments, the result is often better for the couple.


How to Invest in Precious Metals

How to buy gold and silver

Have you read the news lately about gold and silver reaching all time highs?  With commodities going through the roof and long term interest rates rising drastically, perhaps you’re interested in protecting your hard earned dollars from that insidious tax known as inflation.  Maybe you believe that investing in precious metals is the right investment […]


2011 Retirement Account Contribution Limits

2011 Retirement Planning

401K, 403B, IRA & Roth IRA Maximum Contributions The IRS has determined the 2011 maximum allowable retirement account contributions and nothing much has really changed since 2010.  A few of the numbers have budged a tiny little bit but since the Consumer Price Index shows very little official inflation then the adjustments have been kept […]


Half of US Households Can’t Retire By 65

Seniors Won't Be Able To Retire

Boston College’s Center for Retirement Research released a study that shows 51% of US households simply do not have enough savings in their retirement funds to exit the work force at 65. This is an increase from 2006’s study which showed that only 44% of households were in the same ugly financial position. The current financial crisis has hit those near retirement age doubly hard. Namely, their dismal 401Ks and the decreased value of their homes.


The Echo Boomers Dilemma

Millennial Generation Retirement

Are you a member of the Echo Boomer generation, those born between 1977-1999? There is a growing concern among members of the Echo Boomer generation regarding their future retirement. When planning for retirement, financial advisers typically discuss counting on three sources of income to fund retirement: Private funds such as savings and IRA’s, employer sponsored funds such as Pensions and 401(k)s, and government sponsored funds such as Social Security. While these sources of income provide for the retirement needs of the Baby Boomer generation, they will not support the needs of the Echo Boomers. First of all, most companies no longer offer pensions to their employees.