When you turn 70 ½ you reach the required minimum distribution age. That means you must take a certain amount out of your IRA and most other retirement accounts as well. These are known as RMDs – Required Minimum Distributions. That’s right. Even if you don’t need or want the money, you must take out […]
Is Your Spouse A Cheapskate?
If your spouse is a cheapskate (or you think he/she is) it can easily lead to arguments and resentments. Even if he or she really isn’t the tightest person in the world, just having this opinion is really dangerous. Fights about finance are the top predictor of divorce according to Kansas State University research. I’m not […]
Preferred Shares in Plain English
If you are on the hunt for investment income you might consider buying preferred shares. Many investors are drawn to these puppies because they provide more income than bonds and more stability than stocks. A no-brainer….right? Not so fast. First let’s consider how they work. Then we’ll look at how smart an investment they […]
What To Do After You Get Fired
When you get fired your emotions flare. Anger. Fear. Guilt. Shame. It’s a time of supercharged feelings and that can make it very difficult to focus and do what you need to do to get back into the game. That’s why I’ve created the following “to do” list. Without further ado, let’s go. 1. Dwell […]
How to Pick Good Mutual Funds
When you consider investing in a mutual fund, one key consideration is historical performance. That makes sense. The only problem is that many people look at the wrong data. As a result they can make bad decisions, and as a result they lose money unnecessarily. If you own mutual funds, you deserve to own the best performers. […]
Never Run Out Of Money – 5 Rules To Follow
No matter how much money you have, you probably have some degree of financial anxiety. That’s OK. In fact, it’s healthy to a degree. But if you are worried about running out of money you can cool down right now. Here are 5 rules which, if followed, can help you scratch finances off your “worried […]