You’ve heard that taxes are going to increase and you’re waiting for the
hammer to drop. We break down the new tax brackets and regulations that
will impact you in the coming year.
If you’d invested your funds in 2012 based on doom and gloom newspaper headlines, you would have missed out on a great opportunity. Think about the lessons of the past before jumping ship on your current wealth management plans.
A few weeks ago I took my family to our annual vacation spot – Las
Vegas. It’s a place that defies the law of averages. Normal people stay
awake 16 hours a day. In Vegas, it’s 20+ hours a day. At home, one bowl
of cereal and a banana completes my breakfast. In Vegas my stomach’s
capacity expands to fit five plates at the wall-to-wall buffet.
What I’m about to tell you is unorthodox and unconventional and your
first thought might be “This doesn’t apply to me” or “There’s no way I
can do that!” But I can assure you from personal experience that acting
on even one of these strategies can have a powerful impact on your
Rather than attempting to randomly pick successful funds from a massive
list, have your group’s financial advisor create model portfolios for
you to select from, which display options based on risk profile.
Bundled payments and services could be costing your group’s retirement
plan untold thousands. Here’s how to find the added charges, assess the
damage, and break the bundle when necessary.
Does your group’s retirement plan put your interests first? Making sure
your plan’s trustee takes the role seriously and hires a fiduciary
advisor is the first step to safeguarding your retirement.
Forget your return rate. The most important factor in increasing the
size of your portfolio is also the simplest: Save more money.
You did it! After years of struggling, studying, pinching pennies,
watching non-medical friends make cash, buy houses, cars, etc. you’ve
finally made it. As a senior resident, you’re now receiving offers that
promise to quadruple your meager resident wages.
Many of you invest in taxable (nonretirement) accounts in addition to investing in your 401k or IRAs. For those accounts there are new tax rules this year that you have to follow. These rules pertain to how you report gains and losses. Getting this right can potentially save you thousands of dollars in taxes.