Why it is essential for you to name a beneficiary for your IRA

  If you do not name a person as a beneficiary, the deceased estate will inherit the IRA.  Since the estate is not alive the payments cannot be stretched out into the future. By stretching the IRA, a person will greatly limit the tax consequences. If you have not named a beneficiary, it is possible the…

Where is the best place to stash your short term money?

I-Bonds are savings bonds issued by the U.S. government that pay about 1.35%. This rate is much higher than any money market account. You must keep your money here at least a year and no individual can contribute more than $10,000 each year. You can also put in an additional $5,000 if you invest your…

Please do not go see The Wolf of Wall Street

From the Wall Street Journal.. Federal prosecutors indicted Mr. Belfort in 1998 for securities fraud and money laundering. He pleaded guilty and was ordered to pay $110.4 million in restitution to his victims. The court ordered him to pay 50% of gross income to victims until the full amount had been repaid. In exchange for…

What is the rule of 72 for doubling your money?

A simple way to figure out how long it will take to double your investment funds if to take the number 72 and divide it by your expected return. For example if you expect an 8% return (The average return of stocks over time) you would divide 72 by 8 and it would take you…

Three ways to spot credit card fraud

1. Your personal info is wrong. 2. You find accounts you never opened. 3. You are getting messages from lenders you do not know.   This is why you must check your credit report on a regular basis. For more read this excellent article from learnvest  http://www.learnvest.com/knowledge-center/worried-about-credit-fraud-heres-how-to-spot-it/

Five tips if you are thinking of joining a gym

1.Dont fall for low introductory rates. These can increase dramatically 2. Find out what others are paying and ask for the same rate. 3. Ask for free training sessions as a condition you will join 4. Find out if there is a membership limit. If not the gym could be very overcrowded at peak times….

Do not use your debit card these four places!!

Debit cards are different than credit cards. It is not so easy to just cancel your card and get a new one. With a debit card, people are actually withdrawing money out of your bank account. It could take months to be reimbursed. Avoid this by following these tips.. http://www.bankrate.com/finance/checking/risky-places-swipe-debit-card-1.aspx?ic_id=tb_10046