October 2012

29 Oct

Big Spenders vs. Big Savers

Who would you rather emulate?

You stand at your window and look across the street. Nice house, you think. Nice landscaping. Nice sports car. Nice driveway. New bikes for the kids. Wow, your neighbors are really well off. If only you had that kind of money.

That plain home down the street with the older model sedan parked out front pales in comparison. A couple in their seventies lives there, and the front yard hasn't been spruced up in a decade. Who knows, maybe they struggle just to get by.

29 Oct

Are Timeshares Ever Worth It

Many buyers come to regret their decisions.

Thinking about buying a timeshare? You may want to think twice about it.

While some people buy timeshares and love them, many question their choice after an initial honeymoon period. Years later, they realize that they have bought more than part-time use of a resort property – they have also bought into a cycle of aggravating fees and maintenance charges, adjusted for inflation.

29 Oct

Important IRS Adjustments for 2013

IRAs & workplace retirement plans have higher contribution limits.

The IRS has set annual contribution limits for IRAs, 401(k)s and other retirement plans higher for 2013, and made other important adjustments for inflation as well. Here is an overview of some notable changes just announced.

The 2013 IRA contribution limit: $5,500. This is a $500 increase from 2012, and it applies to both Roth and traditional IRAs. The IRA catch-up contribution limit for those 50 and older remains $1,000.1,3

29 Oct

Your Financial To-Do List for 2013

Things you can do before and for 2013.

What financial, business or life priorities do you need to address for 2013? Now is a good time to think about the investing, saving or budgeting methods you could employ toward specific objectives. Some year-end financial moves may prove crucial to the pursuit of those goals as well.

What can you do to lower your 2012 taxes? Before the year fades away, you have plenty of options. Here are a few that may prove convenient:

*Make a charitable gift before New Year's Day. You can claim the deduction on your 2012 return, provided you use Schedule A. The paper trail is important here.