Things To Know About Roth IRA Rules For 2010

May 28, 2010
Roth IRA Rules 2010

The Roth IRA account was created in 1997 by the passage of the Taxpayer Relief Act of 1997 who’s chief sponsor was the late Senator William Roth of Delaware. (Thus the name of retirement account). A Roth IRA (Individual Retirement Arrangement) can invest in securities, usually common stocks or mutual funds (although other investments, including [...]

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Don’t Fall Prey To A Victim Mentality. Be Responsible For Your Actions And Live Free

May 27, 2010
Don't Be A Victim To The Victim Mentality

One thing that I’ve noticed over the past few years is that it seems like there is an increase in the amount of people who refuse to take responsibility for their actions.   Instead they blame others when things don’t go the way they had hoped, and they subscribe to a “victim mentality”, a psychology that [...]

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Why Does The Investment Industry Like Mutual Funds So Much?

May 26, 2010
Investment Industry And Mutual Funds

Did you know that there are more mutual funds than there are stocks? Have you ever wondered why mutual funds are such popular investment vehicles? Conventional wisdom will tell you that mutual funds are popular because they are less expensive than stocks because they do not carry hefty commissions, they allow the little guy to [...]

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Dave Ramsey’s 7 Baby Steps: Step 2 – Pay Off All Debt Using The Debt Snowball

May 25, 2010
Debt Snowball Debt Reduction Plan

In my last post in the 7 Baby Steps series, we looked at Baby Step 1, saving up an emergency fund of $1000.  You save up that baby emergency fund in order to insure yourself against the risk of life’s little emergencies that have a way of popping up at the least opportune time.   If [...]

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Co-Signing For A Loan: Never A Good Idea Unless You Like Paying For Other People’s Stuff

May 24, 2010
Co-signing Is A Bad Idea

One thing that always makes me cringe is when I hear about someone who has been asked to co-sign on a loan for a friend or family member.  I cringe because I know just how often those situations can turn bad, and how the co-signer can often be left holding the bag.  Usually there’s a [...]

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Traditional And Roth IRA Contribution Limits And Phase Outs

May 21, 2010
Roth IRA Contribution Limits And Phase Outs

A while back the IRS released their 2010 Traditional and Roth IRA contribution limits.  It’s a good idea to make sure and watch those limits from year to year to make sure you’re investing the full amount possible. As was expected in most circles the 2010 Traditional and Roth IRA contribution limits will stay the [...]

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Things You Should Know About The 2010 Roth IRA Conversion Rules

May 20, 2010
2010 Roth IRA Conversion Rules

Yesterday I wrote about retirement accounts, and talked about which ones are better for different situations.   Today I want to talk about another issue that’s been getting a lot of press lately, the 2010 Roth IRA conversion. In the event you’ve been living under a rock and haven’t heard about the  Roth IRA conversion event [...]

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What Type Of Retirement Account Should I Choose? Traditional IRA, Roth IRA And 401k

May 19, 2010
Roth IRA Traditional IRA 401k

So you’re finally out of debt, saved up an emergency fund, and are ready to start saving for retirement. The question that you have now is, what type of retirement account should you choose? An IRA, a Roth IRA or a 401(k)? If you’re not familiar with these basic retirement account types, you may want [...]

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If Your House Is Worth Less Than You Owe, Is It OK To Just Stop Paying Your Mortgage And Walk Away?

May 17, 2010
Underwater Homes Ready To Foreclose

Since the market collapsed back in 2008 we’ve seen the real estate market take a nosedive.  People who bought at the height of the market (assuming that real estate would always appreciate) found themselves in a situation where their homes had dropped significantly in value.    My wife and I are a part of the group [...]

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Lending Club Review And Account Opening Process

May 14, 2010
Lending Club Review

A while back after reading about peer-to-peer lending (or social lending) via a variety of personal finance blogs I decided to look into it a bit more.  The idea sounds intriguing.  Instead of dealing with big banks who could care less about providing good rates, good customer service or giving you a personal touch, you [...]

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Dave Ramsey’s 7 Baby Steps: Step 1 – $1000 To Start A Baby Emergency Fund

May 13, 2010
Dave Ramsey Baby Step 1

In one of my first posts on this site I gave a brief overview of Dave Ramsey’s 7 Baby Steps, and gave links to a few other sites who talked about them. Today I want to begin my series on the 7 Baby Steps by talking about Baby Step 1, saving up $1000 for a [...]

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Cash For Caulkers Home Improvement Rebate: Money To Retrofit Your Home For Energy Efficiency

May 12, 2010
Energy Efficiency Home Improvement Rebate

Yesterday I talked about the energy efficiency tax credits for home improvements that homeowners can take advantage of through the end of 2010. They can use the tax credits upgrade their windows, heaters, insulation and other energy efficient products. The Obama administration is now trying to get another program passed to give rebates to homeowners [...]

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