1/29/2009
Over 50% of American Workers Will Delay Retirement
In the very recent past, I know many pre-retiree’s who laughingly exclaimed that they will become a WalMart greeter just to have something to do during retirement. They were pleased with their 401k Plans and IRA's and were on cruise control towards their golden years.
As a result of the economic crisis of 2008 and 2009, this is no longer a joking matter, as 401k and IRA plans have been cut by 1/3, and many pre-retirees may need to secure a part time job in retirement.
According to SunLife Financial, 54% of American...
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1/27/2009
The Mutual Funds that had the least negative returns in 08
Before investors totally forget about 2008, let's take a quick second to review and congratulate the best performing Mutual Funds of the year. It was a tumultuous market to say the least, and these managers did the best job basically losing the least money in most cases. Hopefully a year from now, we will be able to post better news, but in the meantime, here are the best mutual funds for 2008 according to Smart Money.
Fixed Income Fund/Managers of the Year
FPA New Income (FPNIX)
Source: Lipper, Morningstar, Company Reports for all...
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1/25/2009
Dollar Cost Averaging | Benefiting your IRA, 401k, and Retirement
With the recent turmoil in the financial market this is a good time to look at Dollar cost averaging. The strategy is one that helps you actually benefit from market volatility as we see continuing in 2009.
You actually are better off with wild swings in stock prices, when you dollar cost average, than if they just went up .8% every single month (if both ended with stocks at the same price 20 years later). Really the wilder the better (the limit is essentially the limit at which the economy was harmed...
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1/22/2009
Personal Finance and Retirement Calculators
Retirement and Investing calculators are always fun to play around with! They can provide you with the data to make more informed decisions about your investment and retirement portfolios, whether they are 401k plans, IRA’s, or just general personal finance decisions that you need to make.
Use our calculators to finesse your monthly budget, compare costs and plan for your future. See our
full list of the best retirement, investing, mortgage,and personal finance calculators and decision tools that we found on the web!
Here is a list of the best ones that we have found at eRollover.
MONEY & BUSINESS...
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1/21/2009
Volatile Markets Mean Acting Differently in your 401k or IRA
As I write this, the 2009 Stock Market is not looking to make any new friends in the 401k and IRA community. The DJIA is hovering right around 8000, and it looks like this recession is going to last longer than anticipated. Some pundits have said that it could be 2011 to see all of the economic stimulus finally work. We had the biggest Inauguration market drop in history when Barack Obama took the oath of office.
In the meantime, many investors are wondering, “What should I do during these difficult market...
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1/19/2009
2009 Layoffs Continue to Trend Upward
The eRollover 2009 Layoff tracker has been busy the last few weeks as a result of the worsening U.S. Economy. As we have feared, the pace of corporate layoffs has picked up sharply since the beginning of the year. Many have turned to the incoming Obama illustration for hope that they may bring about better times. However, they have been extremely fervent about the economic damage being fixed over a course of several years, as opposed to overnight. As Warren Buffet puts it, “Don’t expect short-term miracles from Obama when it comes to the 2009...
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1/15/2009
Have you Ever Wondered About Moving YourRoth IRA back to a Traditional IRA
Roth IRAs
Named for Senator Roth (R-Del.), the new Roth IRA does not allow a deduction when contributions are made, but allows tax-free withdrawals of both contributions and earnings. Thus, unlike regular IRAs, which only defer taxes, the Roth IRA allows the tax-free accumulation of wealth. If the Roth IRA account has been established for five years and (1) the owner is at least age 59, (2) the owner is deceased or disabled or (3) the distribution will be used for first-time homebuyer expenses
The ability to...
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1/13/2009
Just a Few Mutual Fund Thoughts for Volatile 2009 Markets
Most managed mutual funds fall into one of two philosophical camps: value or growth.
Typically, Value managers are the bargain shoppers of the stock market. If they don't think a stock is cheap enough, they don't buy. What makes a stock cheap? This is where picking funds can get confusing because every value investor has a slightly different way of assessing bargains.
Growth investors buy shares of corporations whose profits are rising faster than those of others in the industry or the market as a whole. Some growth managers look at rising cash...
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1/10/2009
Make your 2009 Retirement and Finance Goals!
Man......2008 was extremely painful in a number of ways for your investments, retirement and personal finances. 401k Plans are now 201k Plans. 2009 offers a blank slate, so it is vital that you sit down and come up with your Financial and Retirement roadmap for the year. Here are a few suggestions:
First, take control of your investments.
The worst thing you can do during a down economy is panic and pull all of your money out of your investments. Usually this results in selling at the market bottom and...
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1/9/2009
Small Business Owners can Save for Retirement With a SEP IRA
Small Business Owners have many retirement aspirations, however obviously don't have access to a 401k like many employees of large corporations do. In order to give a 401k-like vehicle to these businesspeople, the government created a SEP-IRA plan.
A Simplified Employee Pension Plan, commonly known as a SEP-IRA, is a retirement plan specifically designed for self-employed people and small-business owners. Its key features are highlighted below. When establishing a SEP-IRA plan for your business, you and any eligible employees establish your own separate SEP-IRA; employer contributions are then...
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1/6/2009
Barack Obama has exclaimed that, "The economy is very sick, The situation is getting worse. ... We have to act and act now to break the momentum of this recession."
As a result, tax cuts are the first surprise from the Obama administration in 2009. The proposed "Tax increases for the rich" were tabled a short while ago, and now tax cuts are reverberating throughout Washington as a result of the U.S. economy. This comes as quite a surprise to many Republicans, as they are typically known for their tax cutting policies.
While Democrats in Congress have mainly talked up spending on...
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1/4/2009
401k's, IRA's, Pensions, and SOCIAL SECURITY?
A secure, comfortable retirement is every worker's dream no doubt. We have our 401k Plans, Our IRA's, and other Investments, that are geared towards that goal. However, many that are close to retirement tend to forget about Social Security and the other benefits provided by the Social Security Administration. Even though this benefit may not be around for the long term, it still provides a valuable benefit for those nearing retirement. Please read below and see how you can incorporate Social Security into your retirement plan.
eRollover has found retirement tools...
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1/3/2009
2009 Contribution Limits Increase for 401k, 403b, 457, and 401a Plans
The IRS maximum allowed 401K, 403b, 401a, or 457 Plan contribution will increase from 2008’s $15,500 to $16,500 in 2009 (for those over 50 years old it increases to $22,000).
What Does this Mean for you?
Your 401k or IRA probably has seen much better days. However, the slight silver lining to this market downturn is that 401k investors are able to dollar cost average at much cheaper levels than a year ago. Try to be an optimist. Think of buying securities at a 401k 30% off sale. Since your outlook for...
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1/2/2009
RMD Alert: Temporary Relief for 2009
Required Minimum Distributions (RMD) Background and Summary
On December 23, 2008, President Bush sgned into law the Worker, Retiree, and Employer Recovery Act. The Act states that no RMD is required for 2009. As you are aware, the current global economic conditions have caused sharp declines in many contract values. This Act is designed to provide relief to contract owners who would otherwise be forced to take a distribution in 2009. The goal is to not force contract owners to take a distribution when their contract value is at a low point and instead allow those...
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