For most of your working life, most contributions made toward your impending retirement has been to a qualified plan, meaning a plan that allows you to take a tax deduction in the current year of contribution as in a Traditional IRA, or in the case of corporate working folk, their 401(k). There are two phases…
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Low Interest Rates – The Good, The Bad And The Seniors
The year 2008 was a turning point in the lives of many, mostly for one reason: drastically reduced retirement and investment accounts as a result of an approximate 40% reduction in the stock market. Since that year, we have seen a worldwide economic slowdown effecting people of all walks of life, at every corner of…
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Is Your Retirement Plan Like An Apple Tree?
In our area of New York, for me October brings thoughts of a new autumn brusque feel in the air, Halloween, beautiful leaves (until it's time to rake), and fresh, crisp apples. As an apple fan, it means fresh applesauce, pie, and a host of recipes that include- yep you guessed it- apples. Here in…
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The Two Stages Of Preparing For Retirement
Each year since you started working, you diligently saved. The myriad of choices, depending on your type of work, gave you the choice of a Traditional IRA, 401(k), 403(b), Tax Sheltered annuity, Defined Benefit Plan, Defined Contribution Plan, Profit Sharing Plan, Money Purchase Plan... well, you get the idea. All of the above plans gave…
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