For those of you above the age of 70 ½, (or if you have parents who fall into this category, read on) the required Minimum Distribution (RMD) rule was suspended in 2009, but is very much alive for year 2010. RMD’s generally apply to those who are over the age of 70 ½ with a Traditional IRA and/or 401(k). If you don’t take your RMD, the penalty tax is high: 50% of the required amount not distributed. Keep in mind you can always take more than required, but never… Continue reading
It began back on August 27 at a central bankers meeting in Jackson Hole, Wyoming when Federal Reserve Chairman Ben Bernanke stated “the Fed is prepared to provide additional monetary accommodation through unconventional measures if it proves necessary, especially if the outlook were to deteriorate significantly.” From that point on economists, financial market analysts, and politicians have been debating, to say that kindly, whether another round of quantitative easing, which came to be known as QE2, was really necessary. 
To most of us, it seems that the economy today is going (or already gone) to heck in a hand basket. Unemployment, housing, discretionary spending and the overall feeling of gloom and doom is everywhere. Interest rates are near zero, which means the rate on a savings accounts, money markets or short term bonds is not much more than 1% or so. For those living on a fixed income, it has translated to lower income (for those dependent on adjustable income programs). Being an optimist however, I always… 
IRS, in its inimitable wisdom has decided there will be no increase in your allowable contribution limits in your 401(k) plan for 2011. The limitations will stay the same as year 2010- individual contributions are limited to $16,500, with a total contribution including employer matching to be limited to a maximum of $49,000. For those above the age of 50 though, you may take advantage of your catch-up provision of $5,500.The contribution limit has rising annually based on the consumer price index each year since its… 
Last week, MetLife announced that it was discontinuing the sale of all its individual LTC products as of January 1, 2011, and all group LTC products as of February 8, 2011. They will continue to pay claims if you have a MetLife policy, but will no longer issue new cases. What does this have to do with you? 
Regardless of what you may hear on the news about the economy stabilizing or the recession being officially over, let’s face it- it’s not easy out there. Unemployment continues to permeate our community as well as the entire country, and housing, either pre-owned or new has stalled. Values are down, and continue to deteriorate. We are bombarded by news items on TV, radio, newspapers, the internet and other media that tries to convey statistics and conditions to us from their point of… 
Well, as I said in my 
If you’ve ever had the misfortune to have to put in for a loss due to burglary on your homeowners insurance policy, you know what a nightmare it can be. It’s not enough to tell the police and your insurance company what was stolen, you have to prove that it was indeed taken and that you did indeed own it. Now I know you are diligent in your quest to retain all of your receipts from everything you ever bought (yeah, right)… 
That would be the home stretch for this year’s mid term elections and not your local race track for the thoroughbreds or trotters. If you have been to the track on a rainy day and saw that mud splashing as those pounding hoofs make their way to the finish line, I have to believe that amount of mud pales in comparison to the mudslinging that is going on in this year’s political contests. I just don’t know that I can recall such pervasive dirty politics ever before… 
I have to admit that I have a great deal of frustration attempting to reconcile the difference between the recent momentum move up in the stock market and the underlying anemic growth in our economy. As I absorb today’s (Oct.8) news on unemployment data and reflect on statistics I recently read about mortgage foreclosures I can’t help but think that the combination of both issues remains a serious anchor weighing down the economy. -
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