Retirement Watch Weekly
Avoiding Scams by Loved Ones
Though it does not get much attention, a high percentage of the scams and thefts perpetrated on older Americans are com-mitted by their loved ones. The number of scams on the elderly and how much money is involved are unknown, but experts suspect that family and friends take advantage of retirees more than strangers do. […]
January 2007
January 31, 2007 05:10 p.m. The Fed Boosts the Markets It was a good day all around for the stock markets. The day got off to a good start with the GDP report. It revealed stronger-than-expected growth and declining inflation. Consumer spending was high. The only negatives in the report were a sharp declining in […]
Pension Lump Sum Payouts to Decline
Lump sum pension payouts are likely to fall for many retirees over the next few years. The Pension Protection Act of 2006 changed the rules for computing payouts, and they apply retroactively. The new rules affect people in old-fashioned defined benefit pension plans. These are the plans that guarantee annuities to members at retirement. Members […]
How to Evaluate Free Financing Ads
Flip through the ads in the newspapers and you will find offers for attractive financing of purchases of high-ticker consumer items. The offer usually states there is no-interest for a period of one year to three years. The offers are most likely to cover purchases of electronics (such as big screen televisions) and furniture. Are […]
How to Make Unlimited Tax-Free Gifts
Anyone can make unlimited tax-free gifts. The strategy gets wealth out of your estate, and unlike many other gifts, you can be sure of how the money will be used. The strategy of maximizing tax-free gifts is growing in popularity, especially since the change in Congress makes it unlikely that elimination of the estate tax […]
Social Security and Your Spouse
Benefits for a spouse are among the least understood part of the Social Security program. Your earnings and your decision of when to begin benefits affect the benefits received by your spouse and even by an ex-spouse. Every married person eligible to receive Social Security benefits looks to two work records to determine the amount […]
Building the Legacy Plan
What is your legacy plan? Most people are familiar with estate plans. The goals of the estate plan are to ensure that assets are transferred to the people you want in the most efficient manner, that is with the smallest burden in taxes and other expenses. The standard estate plan includes a will, a financial […]
Private Annuity Trusts: New Rules
Just as last month’s discussion of private annuity trusts was mailed, the government issued proposed regulations restricting the strategy. Though intended to stop transactions considered by the IRS to be abusive of the tax law, the regulations go further and make private annuity trusts generally unattractive. Recall from last month’s discussion that a private annuity […]
