IRA accounts are designed for retirement. If a person decides they want to access their account prior to age 59 1/2, they will incur a Federal Income Tax penalty for early withdrawal of 10% of the amount withdrawn. In addition, the amount withdrawn is deemed ordinary income and taxed as such. If that weren’t bad [...]

This recent extremely volatile stock market has gotten many near retirees wondering about their future and how they can safely invest for their retirement. Many, like their grandparents following the Great Depression, are thinking they will not hold stocks. They are too volatile and risky. Savings accounts, Savings Bonds and maybe Treasury Bills will do [...]

The National Center for Policy Analysis has just released a report titled, “Ten Ways to Wreck Your Retirement.” I would have to say a big AMEN to their analysis in this paper. I have listed below the Executive Summary of the ten points. If you would like to read the entire 24 page report, you [...]