The Financial Industry Regulatory Authority has put out a new investor alert regarding the use of the new 401(k) debit card. As Baby Boomers en masse are steadily rolling towards our retirement years, it’s tempting to tap your 401(k)s with the relative ease of using a debit card.
It allows you to borrow money from your retirement savings at an ATM machine. You’ll then receive a monthly bill that includes: a minimum payment due PLUS interest, fees, and a service charge.
Go to The Financial Industry Regulatory Authority’s website to read the alert, 401(k) Debit Cards – Think Before You Swipe. You’ll be glad you did.
~Joan Jackson, Publisher, The Baby Boomer Resource Center.com
To the entrepreneur, knowledge is DEFINITELY power! There are many great books that you can purchase to add to your personal library.
One great title that I have run across is Walking With the Wise Entrepreneur. Sixty inspirational mentors and millionaires have been put together to author this 311-page ebook. What you will find is priceless advice and life lessons that will lead you to become a successful entrepreneur today. It teaches how to achieve success in life, business, and entrepreneurship.
Authors include highly respected, successful and inspirational people: Deepak Chopra, Robert Kiyosaki, Suze Orman, and Zig Ziglar.
Visit: www.thewiseentrepreneur.com to review, and order a copy of Walking With the Wise Entrepreneur. It’s sure to be a welcome addition to your entrepreneurial toolkit!
Amazon.com is one of the best places to purchase books that will enrich your knowledge base.
Amazon.com not only offers thousands of titles in the area of your choice, but it also allows you to read reviews of folks that have read your choice books. Of course, Amazon.com provides you with a great choice of either buying books directly from them, or through online book sellers that have been screened by Amazon.
To start your search for a truly wide selection of books to enhance your knowledge about small business, personal finance, and everything in between , click on Amazon.com books!
~Joan Jackson, Publisher
The Baby Boomer Resource Center.com
101 Online Financial Calculators Every Entrepreneur (and Everyone!) Needs
According to Kiplinger’s Retirement Report (May 2008, p. 10), Treasury notes, bills, bonds and TIPS (Treasury Inflation-Protected Securities) are now available in minimum and multiple amount of $100 USD. Prior to this, the minimum was $1,000 USD. According to the U.S. Treasury Department, this change went into effect on April 7, 2008.
~Joan Jackson, Publisher, The Baby Boomer Resource Center.com
I must say, if you can possibly afford to fund a Roth IRA, by all means…DO IT!
A Roth IRA is an Individual Retirement Account (IRA) that is basically funded with post (after-tax) monies.
Named for its chief legislative sponsor, Senator William Roth of Delaware, a Roth IRA differs in several significant ways from other IRAs.
In contrast to a traditional IRA, contributions to a Roth IRA are not tax-deductible. BUT…what’s great is, when you start to withdraw money from a Roth IRA, they are tax-free! Also, the advantage of the Roth IRA over a traditional IRA is that there are fewer withdrawal restrictions and requirements. Even better, transactions inside the Roth IRA account (including capital gains, dividends, and interest) don’t incur a current tax liability!
Withdrawals are generally tax free when the account has been opened for at least 5 years and the owner’s age is at least 59 ½.
Many brokerage firms (e.g., Fidelity, Vanguard, T.Rowe Price, just to name a few) offer Roth IRAS. According to Kiplinger’s Retirement Report (May issue) starting this year (2008), you can now roll funds from your company plan into Roth IRAS IF you have an adjusted gross income of $100,000 or less (good news: the cap ends after 2009!).
Caution: The rollovers are taxable, but no 20% withholding is required.
~Joan Jackson, Publisher, The Baby Boomer Resource Center.com
