Accumulating wealth is like building The Great Wall, one brick at a time
Category: RetirementBy Sun on Apr 10, 2008 in Retirement, Personal finance | 4 Comments
There are only four days left before the April 15 tax deadline, but it isn’t too late to make 2007 IRA contribution which has a limit of $4,000 ($5,000 if 50+ years old). At this time, some brokers are offering incentives to encourage people to open IRA accounts with them. For example:
Scottrade: 1-year subscription of […]
By Sun on Mar 25, 2008 in Retirement, Personal finance | 2 Comments
The government today updated its outlook on Social Security and Medicare and there’s no good news for folks who will retire in 10 years from now. According to the annual trustee reports released by The Department of Treasury, the Social Security Trust Fund will run into negative cash inflow in 2017 and exhaust its […]
By Sun on Feb 26, 2008 in Retirement, Personal finance | 5 Comments
I know, setting up a 401(k) account should be one of the first things to do after changing employer, but I waited for more than half a year to finally get it done
When I started my current job last July, I didn’t have the chance of making contributions to the retirement plan as […]
By Sun on Sep 5, 2007 in Retirement, Personal finance | 4 Comments
Last week, when my previous employer informed me that the company match for the first 6 months has been credited to my 401(k) account at Fidelity, I was also told that my account status will be changed to “Terminated” on August 31st. That means I can move the money to other accounts starting September 1st. […]
By Sun on Apr 25, 2007 in Retirement, Personal finance | 5 Comments
So are you saving enough (or too much) for your retirement? Given your age and income, do you know how much you should set aside every month now so you can have enough fund to cover your daily expenses when you are at age 65?
In the April issue of Journal of Financial Planning, a […]
By Sun on Apr 22, 2007 in Retirement, Personal finance | 5 Comments
We realized last weekend after we were done with our income taxes that we, my wife and I, had made excess contributions in our Roth IRA accounts. Based on our income numbers, TurboTax said we were only eligible for $200 Roth IRA contributions in 2006, instead of the maximum $4,000 we made throughout the […]
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