On July 4, 1776, a small band of colonial leaders declared independence from the Kingdom of Great Britain. The American Revolution changed the course of world history forever and launched a nation that no other has since rivaled. In the spirit of the heroes of the American Revolution, would you be willing to consider declaring […]
This Is Your Life…
$750,000 Fee to Settle an Estate?
Reader question: Several weeks ago you wrote an article about estate planning. What is the cost of preparation of a return for an estate of a million dollars (just a ball park)? F.W. Answer: This is a very important question and the correct answer is ‘it depends’. Before you accuse me of using a ‘Bill […]
The Hidden Costs in Your 401-k
How many of you would guess that over the lifetime of your 401k plan hidden fees could cost you more than $150,000? That’s the conclusion Demos, a non-partisan policy research and advocacy organization, came to in a recent research paper. The vast majority of employees participating in 401k plans across America have no idea about the […]
401k Losses…Who’s Responsible?
Reader’s question: We all see the market going up and down but when I received my 401k statement recently it had lost as much as I had invested (10%) in the 1st quarter. I am getting closer to retirement but fear I’ll not have enough money to do so. I have a child out of college […]
The Value of a College Education
Recently, The Birmingham News ran a column that brought into question whether borrowing to pay for college made financial sense. The writer pointed out that the average student loan amount upon graduation topped $25,000. I presume the alternative to borrowing to pay for college was to not go to college and therefore avoid the debt. For 2012, […]
Age 70½ Required Minimum Distributions- Questions Persist
Reader question:I turned 70 years old in January. When will I have to take my first Required Minimum Distribution (RMD) from my 401k? T.D. Answer: You have two choices. You can either take it by December 31st, 2012 or you can wait as late as April 1, 2013. When you take your RMD, it will be […]
Discount Broker a Good Choice for Your IRA?
Reader Question: In one of your columns, you addressed a question about investing unneeded money from required IRA distributions and one suggestion was to open a personal investment account at a discount broker and invest in no load mutual funds. That left me wondering. Since I will soon be taking IRA distributions, is there a […]
Facebook IPO- Deal or No Deal?
The largest initial public offering (IPO) in history for an Internet company will occur this Friday when Facebook will offer approximately 330 million shares at an estimated $28-$35 per share. This represents about 16% of the company. The numbers suggest that Facebook is valuing itself at nearly $100 billion and will make chief executive officer, Mark […]
7 Traits of Highly Effective Leaders
Whether you’re running your own business, heading up your team or simply running solo, here are the 7 traits of highly effective leaders. Trustworthy. Perhaps the single most important trait of a leader is trustworthiness. Trust is based on keeping the promises you make, both big and little ones. With some people, trust is built over time […]
Lotto Mania- Does it Make Cents?
Reader Question: The recent $600 million lottery set off a big buzz around the country. Is buying lottery tickets a good idea? S.R. Answer: Buying lottery tickets is just plain stupid. Over 150 million people spent a record $1.5 billion on lottery tickets so that three people could split just over $460 million. These odds define a loser’s game. Lotteries attract […]