Zorro Lunch Box or Retirement Account, How Are You Saving for Your Future?

Growing up, I could tell  when my Pop was coming home from work by hearing the jingling of change in his pockets. And, every night before he sat down for family dinner, Pop would go to the basement and empty the contents of his pockets into a Zorro lunch box for safekeeping. Mom and Pop were devoted savers — Pop in his lunch box and Mom in her Christmas Club account at the bank. One day Pop announced, “It’s time …

Why You Should Consider a Roth Conversion

Soon we’ll be looking at tax day in the rearview mirror, which is the perfect time to plan for future tax consequences. One strategy that’s especially good for recent retirees is converting part of a traditional IRA to a Roth IRA. First, a little background. Generally speaking, when you contribute to a traditional IRA, you get a tax break immediately but your money is taxed as ordinary income when you take it out later to live on. A Roth is …

Guard Your Home Equity With Your Life

Home ownership is the foundation of middle-class wealth. The home equity asset is created when mortgages are paid down. It represents the difference between what your house is worth and what you owe on your mortgage. African Americans are less likely to own homes than others — fewer than half of all African Americans own their homes, compared with 66 percent for others. With fewer assets, however, we often have more pressure to tap into home equity than others. I …

11 Things We Didn’t Know Last Week

News, discoveries and fun … 1. The average cost of a wedding stands at $32,213, including $555 for the cake. (Learn more at The Knot) 2. Social Security records erroneously show that 6.5 million people in the United States have reached the age of 112. (Learn more at Associated Press) 3. Barbra, Nanette, Sondra, Elmo and Waldo are on their way to extinction as baby names. (Learn more at Yahoo! Parenting!) 4. The zorro bubble-nest frog, Amsterdam albatross and tropical …

Could You Retire From Your Job in Debt?

Think about retiring from your job with no savings — not even a little bit — just debt. Unfortunately this is the case for one in five Utahans, according to a new study released recently by Notalys LLC. This news is troubling, to say the least. To make matters worse, with 45 percent of working-age households having nothing — zero dollars — saved toward retirement, what’s playing out in Utah could have significance nationwide. That’s why Utah and other states around …

Groundbreaking Law Will Help 2.5 Million Workers Retire With Confidence

”Great news from Illinois: A new law will help 2.5 million workers retire with confidence. Signed by former Gov. Quinn this year, the Illinois Secure Choice Program gives millions of state residents a way to save for their future at work — a tool that increases savings rates by 15 times.  Upon signing the bill, Gov. Quinn shared, “This is a special … opportunity, for all of us to go forward at helping people save for retirement. Secure Choice is …