Please tune in to 96.5 FM or 580 AM from 9-10 am. I will be discussing:
3 retirement changes for 2012
A to-do list for the surviving spouse.
How soon can I retire?
Category Archives: investing
Now you can do more for yourself!
Contributions to a retirement account tend to be the easiest way to save for yourself and reduce your current tax bill. If you have to opportunity to save pre-tax, please do. You can save 100% whole dollars vs. a reduced, after-tax dollar to accounts such as an IRA or Roth IRA. If you do not have access to a 401k, 403b, or 457 plan, don’t hesitate to save into an after tax retirement account. Here are the new contribution limits for 2012:
401k 403b or 457 $17,000 a $500 increase
50+ catch-up $ 5,500 no change in catch-up
Happy saving!
I will be on the news.
You can see me on WKMG local6 Monday 1/2/12 on the 11pm news. I hope you have a safe & happy new year!
Your taxing questions
Q: I take enough required minimum distribution from my IRA to cover all of the RMD. Do I need to take a seperate RMD from my 401k?
A: As long as you withdrawl the required amount, no you do not.
Q: Can I still deduct sales tax in 2011?
A: If you itemize, the deduction for sales tax still applies for 2011.
It’s time for resolutions
Peace of mind comes with understanding and being in control of your own financial situation. Whether this need arises during a major life transition such as divorce, or with your everyday finances, we help empower you to make sound financial decisions by providing advice, analysis, and education.
Resolutions need not be big or grand. Baby steps make being financially secure much easier. First take a look at where you stand financially. How much debt do you have? How much are you saving on a regular basis? What big expenses are down the road? Second, you need to put together a plan of action. Here are a couple of steps for you to take:
Pay yourself first. This is a very old idea, but an important one. Pay yourself as you would any other monthly bill. As you see your account balance increase, you will know that you are giving yourself the power of choice. Having cash gives you the power to choose how you spend it. There is no better feeling.
Reduce your consumer debt. If you are only paying the minimum toward this debt – increase the payment. Once your consumer debt is gone, do not charge any more than you can pay off the next month. This takes you back to the previous point- you will now have financial choice.
Start a slush fund for the large expenses that are down the road. If you know that you will need to replace your car in a couple of years, start saving now for the down payment, or maybe even half the value of what you might spend.
Resolutions can be hard to keep, but for 2012, give yourself the peace of mind that comes with financial freedom
Life’s cycle of Events
Over the course of this week I learned that the Father of one of my oldest friends had passed (a blessing), another friend was diagnosed with cancer, and my niece has gotten engaged. The circle of life spins so quickly at times but we can try to prepare.
My friend’s Father had Long Term Care Insurance. This coverage was purchased many years ago and they had discussed the necessity of this coverage, erred on the side of caution and have been thankful they made this decision. There are many different types of Long Term Care Insurance and every client has different needs. Please consider adding this but only after leaning all that you can about the different options.
My friend with the cancer is self employed and health insurance for those of us who are self employed is expensive. Every year he has reviewed all of the health care changes and health insurance options. This is a very confusing type of insurance to buy, but it is one of the most necessary. Thank G-d my friend has the protection to get the care he needs.
My soon-to-be new Nephew spent a lot of time looking at rings and purchase options. He knew what he wanted to get for my niece yet was completely on his own for this very special purchase. He educated himself on the ring for quality of diamond and gold then educated himself on paying for it. Would he pay cash or finance? If he did a combination of both, were the terms of finance acceptable? I can’t tell you which path he took but he is a smart boy and I know he made the right choice for their future.
Life cycle events are more often joyous vs. sad. We can only do so much to prepare. Prepare we must
Retirement Account questions.
Q: I am unemployed. Is it better for me to make an IRA deposit with a bank or brokerage company?
A: It does not matter which you choose, but you must have earned income to make an IRA deposit.
Q: I was recently laid off and am not sure what options I have with my 401k.
A: You generally have 4 options: leave your 401k with your former employer, roll your 401k over to an IRA, roll your old 401k into your new, future employers’ 401k, or cash it out. All choices should be considered carefully.
If you have stuff to shred – I have the event for you!
SAVE THE DATE!
JANUARY
14
2012
________________________________________
for the CFG Shredding Event!
Here’s the event you’ve been asking for!
We had such a good response to our last shredding event,
we’re planning another . . .
The times have changed . . .
and unfortunately it’s not a good idea to just toss your ‘stuff’ into the trash anymore! The best solution is to shred everything that includes your identity information and sometimes that can be a VERY BIG TASK! We’d like to help, so we’ve arranged for a huge secure shredding truck from Cintas (they are NAID – National Association for Information Destruction – certified) to be at our office on Saturday, January 14th. Bring your box or bag of things to shred and watch the truck ‘chew it up.’
You’re Invited to Join Us!
What: The CFG Shredding Event
When: Saturday, January 14, 2012 8:00 a.m. to noon
Where: Certified Financial Group
1111 Douglas Avenue, Altamonte Springs
Invite a friend to bring their shredding items too!
Come for coffee and donuts,
a WDBO remote broadcast of “On the Money”
and empty a few boxes of unnessary paper!
Live Radio Broadcast!
Plan to stay for our live WDBO Radio Broadcast of “On the Money”! Extended Program!
9 to 11 a.m.
What to keep and what to shred?
Always a tough choice! Take a look at some guidelines attached to this email that will be helpful.
to let us know if you are coming and if you have guests.
Copyright © 2011 Certified Financial Group, Inc., All rights reserved.
You are receiving this email as a client of Nancy Hecht and Certified Financial Group, Inc.
Our mailing address is:
Certified Financial Group, Inc.
1111 Douglas Avenue
Altamonte Springs, FL 32714
You can hear me this Saturday 12/17/11
I will be co-hosting “On the Money” on WDBO 580 Am & 95.6 FM.
Call me with your questions.
Year-End Tax Savings Tips
As 2011 comes to a close, it’s time to figure out what you can do to lower your tax bill. Here are some quick tips:
Sell loser stocks in your taxable accounts. You can deduct the capital loss against capital gains. No gains? You can deduct up to $3000 in losses per year.
Convert a traditional IRA to a Roth IRA. If your traditional IRA is worth less than it once was, the tax hit from converting it to a Roth will be substantially less. After the conversion, all income and gains accumulated in the Roth will be tax free.
Give to charities. You can donate securities directly to the charity or you can donate cash. Either way – it is a benevolent way to avoid taxes.