This is one penalty you’ll want to avoid. If you (or someone you know!) are age 70½ or older this year, don’t forget that you must take a Required Minimum Distribution (RMD) from your retirement accounts before December 31st of this year. The federal penalty for failing to do so is 50% of the amount […]
Avoid This 50% Tax Penalty in 2015
Holiday Giving without Breaking the Bank!
It’s easy to spend a small fortune giving gifts over the upcoming holidays even if you find great deals on sale. Last week, I challenged our readers to share their best low-cost gift giving ideas: Bake and Freeze. My mom always made biscuits at least 2-3 times per week. Several years ago she made the […]
The Holiday Money-Saving Idea Contest
This past weekend, I dropped in at a retailer and they were playing Christmas music! The holiday season seems to begin just a bit earlier each year but it is a good reminder of how important it is to have a holiday spending plan in place so that you don’t start the new year in […]
Earn a 50% Return in 1 Month…Guaranteed
Would you be wary of someone promising you a 50% return on a twelve month investment? How about a one month investment? I assume (hope) your early warning antennas are blaring in your head as well they should be. But there might be a way to actually make this happen for a number of really […]
Support our Veterans!
When you live every day in a free society, there is a tendency to take those freedoms for granted. The truth is that the freedoms we enjoy have come at a great cost and sacrifice by the legions of men and women who serve, and have served, in our armed forces. As a financial advisor, […]
Alabama Property Tax Exemption – Do You Qualify?
Reader Question: My mother-in-law is 87 years old. My wife was told at work that there was as exemption for property tax in Alabama for senior citizens once you reach the age of 65. Is this correct and is it automatic or do you have to file for this exemption? Answer: The timing of your […]
Have You Reviewed Your Will Lately?
Take one moment and think about what your will says… Who does your will leave your assets to if you were to die today? If you are married and both of you died today, who would your estate go to? Would it go outright to those beneficiaries or would it go into a trust? And […]
Medicare & Social Security Decisions-Be Very Careful
Reader Question: My wife and I are both elderly and she has dementia. At some point, she will probably have to go into an assistance living facility. Since I have her power of attorney, I changed the beneficiary on my IRA’s (3 traditional and 1 Roth) to my daughter. She is our only child. If […]
Energen Terminates Pension Plan
Over the past decade there has been a growing trend for companies to terminate defined benefit pension plans in favor of defined contribution retirement plans. One Alabama company, Energen, terminated its pension plan this year. Recently, employees of Energen received notice of their options regarding the terminated plan. With a defined benefit pension plan, a […]
EE Bonds: Hold or Sell?
Reader Question: My question is about EE U.S. savings bonds. I have bonds purchased in the late 1980’s and all are due to mature in 2016-17. The rate on these bonds is 4% and needless to say the accumulated interest is more than the face value of the bonds. My plan is to give these […]