How New College Grads Can Get a Jump on Financial Planning for a Lifetime

The average college graduate with a four-year degree now takes about five years to put on a cap and gown, and her average debt is growing too. According to 2006 figures from the Project on Student Debt, the average college I.O.U. was approaching $21,000.
With all that student loan debt, it’s genuinely tough to focus on [...]

Read Full Post »

Insuring Your Vacation? Make Sure You Are Actually Covered

High energy costs, a tough economy, you name it; there’s still plenty of travel delays and headaches in the skies and on the ground. Those delays can potentially cost a lot of money, which is why it’s a good idea to carry travel insurance on expensive trips to cover missed connections that can delay your [...]

Read Full Post »

IRS increases mileage rates through December 31, 2008

The IRS has announced an increase in the optional standard mileage rates for the final six months of 2008. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
The rate will increase to 58.5 cents a mile for all business miles driven [...]

Read Full Post »

Ask the Experts: I Inherited my Spouse’s Traditional IRA. Now What?

When you inherit your spouse’s traditional IRA, you have a number of options.
Option 1: You can roll the proceeds of the inherited IRA over to your own traditional IRA. This can be a new IRA, or one you already own.
Option 2: You can treat the inherited IRA as your own by designating yourself as the [...]

Read Full Post »

Ask the Experts: Can I Rollover Funds From a 401(k) Plan to a Roth IRA?

Yes, beginning in 2008, you can make a rollover from a 401(k) plan (or other qualified employer plan, 403(b) plan, or governmental 457(b) plan) to a Roth IRA, as long as you meet certain requirements.
First, you must be entitled to a distribution from your plan. Generally, you can access your account when you terminate your [...]

Read Full Post »

The Three C’s of Credit

When you’re looking for credit, it’s worth understanding what potential creditors are looking for when they’re looking at you. Traditionally, they’re looking for the three C’s: capacity, character, and collateral.
Capacity
Potential creditors want to know if you have the wherewithal to repay a debt. To this end, they’ll inquire (usually on an application form) about your [...]

Read Full Post »

The Pros & Cons of Self-Insuring Long-Term Care

Thinking about the potential impact of long-term care often involves considering whether to buy long-term care (LTC) insurance or to self-insure. Sometimes your options are limited. For example, poor health or old age may make the cost of LTC insurance too expensive for you, or you may be denied coverage altogether. Medicaid may not be [...]

Read Full Post »

Making Sense of Municipal Bonds

Recent action in the credit markets has created situations that are unusual in the relatively placid world of bonds. Whether you’re hoping for a buying opportunity or are concerned about existing holdings, it can pay to understand some basics of municipal bonds.
All munis are not alike
Exemption from federal income tax isn’t a muni bond’s only [...]

Read Full Post »