• Getting Fiscally Fit In 2007
    01/01/2007 - 09:00

    Resolutions are standard fare at the start of any new year. But most of those resolutions seemingly are crafted by institutions and organizations striving to help Americans secure a financially secure future. Here's a sampling of resolutions that Americans might consider in 2007.

  • The Ins and Outs of Mortgages and Refinancing
    12/01/2006 - 09:00

    There was a time when mortgages were a fairly straight forward instrument. There were 30-year, fixed rate mortgage and nothing else. Today, however, there are more than 200 different types of mortgages, including those with adjustable-rates, according to a recent Journal of Financial Planning article written by George Collis, CFP(r),

  • A Primer on Hedge Funds
    12/01/2006 - 09:00

    Not a day goes by when the phrase "hedge fund" doesn't appear in the headline of some newspaper or Web site. In fact, hedge funds are so popular now that former Federal Reserve Chairman Alan Greenspan recently described them as "extraordinarily important... the pollinating bees of Wall Street."

    At present there are an estimated 8,800 of those "pollinating bees" in the U.S., controlling some $1.2 trillion. And according to Greenspan, hedge funds, private equity and similar investments will dominate the investment landscape in the 21st century in the United States.

  • The Ins and Outs of Roth IRA Conversions
    12/01/2006 - 09:00

    If you are thinking about making a Roth IRA conversion in 2006, now is the time to make sure that distributions from your traditional IRA are completed before year end. Yes, you have until April 15, 2007 to make a 2006 contribution to your Roth IRA, according to Ed Slott, publisher of Ed Slott's IRA Advisor, but Roth IRA conversions work a bit differently. According to Slott, the Roth IRA conversion will count for the year as long as the funds are withdrawn from the traditional IRA before year end.

  • Is Conventional Planning Right for You?
    11/01/2006 - 09:00

    Do online interactive financial planning models really help people in deciding how much to save, to insure, and to invest in stocks and other asset classes? These models vary in complexity and in level of detail, according to a recent Boston University School of Management Conference on the Future of Life-Cycle Saving & Investing.

  • New law allows IRA owners over 70½ to donate RMD to charity
    11/01/2006 - 09:00

    The Pension Protection Act of 2006 allows IRA owners age 70½ or older to make direct transfers of up to $100,000 per year from their IRA to a charity. The provision became available for IRA distributions taken after Aug. 17, 2006 and applies only through the end of 2007. Distributions can be made from taxable funds in an IRA or Roth IRA, but not from employer plans or SEP and SIMPLE IRAs. The distribution will not be taxable and there is no charitable deduction allowed on the tax return.

  • Year-End Personal Finance Checklist
    11/01/2006 - 09:00

    To be sure, you have time to get your financial act together before 2006 ends. But not much time. Here's a recap of what Sue Stevens, director of financial planning at Morningstar, and other financial planners suggest doing:

  • Taxpayers should get a head start on tax planning for 2007
    10/01/2006 - 08:00

    The indexing of many features of the tax code will bring some relief to taxpayers next year, according to CCH, a Wolters Kluwer business, which recently released estimated income ranges for each 2007 tax bracket.

    Unlike many changes to the tax laws that are effective for only limited periods of time, indexing has become well established within the tax code.

  • A Time and Place for Life Settlements
    10/01/2006 - 08:00

    Sales of existing life insurance policies to third parties-often referred to as "life settlements"-have grown exponentially in recent years, and that trend appears likely to continue, according the NASD.

    The NASD recently issued a notice to brokerage firms and associated persons that life settlements involving variable insurance policies are securities transactions, and firms and associated persons involved in such transactions are subject to applicable NASD rules.

  • A guide to withdrawing retirement assets
    10/01/2006 - 08:00

    A lot is being written about how much money Americans can withdraw from their investments to fund their retirement years. Now, a new research institute launched by Fidelity Investments has outlined the order in which money should be withdrawn from various tax-deferred and taxable investment accounts. Described as the 'withdrawal hierarchy,' the Fidelity Research Institute suggests the order, with modifications made courtesy of other financial planning experts.

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