Monthly Archives: September 2008


Middle America got what it Demanded and the Dow Drops 777 Points! NICE WORK!

I am not sure why but people ask me about current events; maybe it is because I am an information junkie, maybe it is because I work in the financial world, or maybe, just maybe, it is because I always have an opinion!  Well lately, I have been discussing/arguing with friends, family members and have even been quite vocal on other much more popular blogs (link) - while I hate the idea of a bail out by the government it needs to be done, and today's failure to do so and the subsequent crash in the market only proves my fears. First thing [...]

By |2013-09-26T15:02:08-04:00September 29th, 2008|Rant|0 Comments

Naming a Trust as Beneficiary of an IRA

As the baby boomers get older, and we continue to hear the oft repeated saying, We are about to experience the greatest transfer of wealth in history One of my planners recently asked my opinion about a situation - his client, a concerned parent, is about to retire and has approximately $2,500,000 in qualified money (IRAs/401(k)s, etc) and wanted to know his planning options to protect this money in case he untimely dies, i.e. before it is exhausted. Question Number 1 - Why Name a Trust a Beneficiary of an IRA? Basic spend thrift protection!  If your beneficiary doesn't own the IRA, outright, then [...]

By |2013-09-26T15:02:08-04:00September 25th, 2008|Estate Planning|6 Comments

Leave your Retirement Accounts Alone!

I often check the online personal finance section of the Wall Street Journal (found here); many times I find interesting articles which range from the topics credit card debt all the way to macroeconomic theories, but in all honesty, today's top headline frightened me! The title of the article is, "Investors Pull Money Out of Their 401(k)s" written by Jennifer Levitz (full article can found here).  As the title indicates, the article provides actual (and recent) statistics of people raiding their 401(k)s despite the 10% penalty tacked on by Uncle Sam by those under the age of 59 1/2. Publication 560 written and published [...]

By |2013-09-26T15:02:09-04:00September 22nd, 2008|Qualified/Retirement|4 Comments

Series EE Bonds, Income Tax Planning and Estate Planning

I have always prided myself in my research abilities, whether it be during my undergraduate years, post-graduate education, or during my working career.  In fact I would have to say at least I spend at least 5 to 10 hours a week researching random questions for planners at my firm.  While clerking (basically working for cheap at a law firm while you don't have a degree) for the law office of a major major auto insurance company I found some obscure case that got the insurance company out of a law suit where the beneficiaries were two children whose parents had been [...]

By |2016-03-07T23:37:24-04:00September 18th, 2008|Taxes|0 Comments

Carnival of Personal Finance #170

My Article comparing the CDs vs. High yield savings account found (here) was chosen to be apart of the Carnival of Personal Finance #170 found (here).  The Personal Financier went above and beyond highlighting way over 40 or so blog entries for this Carnival. Here are a few that, in my humble opinion are a must read, Value for Your Life highlights his 3 biggest mistakes - here.  Compared to some other PF Bloggers his mistakes aren't HUGE, but lesson learned. Five Cent provides a forum as to Whether it is un-American to ask for a discount - here.  I HATE asking for [...]

By |2013-09-26T15:02:10-04:00September 17th, 2008|Blogging Carnival|0 Comments