Archive | February, 2013

401(k) flexibility

25 Feb

The conventional wisdom regarding 401(k)s is that, while they are commonly understood to be a great retirement savings strategy, they are not particularly flexible. In fact, many clients I talk to are firmly convinced that they are locked into their 401(k)s and that they have little to no choice what happens to those funds. The [...]

Don’t look a gift horse in the mouth

18 Feb

The regulations for giving gifts are one of the most misunderstood pieces of our tax code. With recent changes, now is the time to discuss and debunk some mistaken impressions surrounding how these kinds of financial gifts (and the penalties for exceeding the annual limits) actually work. In my experience, one of the most common [...]

2013 economic outlook

11 Feb

It’s that time of year again: Bookstore shelves are lined with books making future financial forecasts, and magazine and online articles are everywhere with detailed breakdowns of where we are headed and why. Yet, when it comes to finances, even the smartest people are capable of making very, very bad predictions. While these forecast books [...]

2013 tax code changes: The good and the bad (Part 2)

4 Feb

When it comes to Congress’s resolution to avert the fiscal cliff, there will be a negative impact for many Americans, but it isn’t all bad news. Congress did extend and, in some cases, even increase several protections and exemptions that will benefit quite a few families. Despite a hike in the top federal estate tax [...]