My Comments: Readers of this blog know I’ve railed against the growing income inequality in this country for a long time. Income inequality is inherent in the human condition. Since recorded time began, it’s clear there were “haves” and “have-nots”. In recent times, the disparity really started to diminish following the great depression in the …
Continue reading America’s Wealth Inequality Is Getting Worse
My Comments: There is a significant difference between avoiding taxes and evading taxes. Not less an authority figure than a former Supreme Court justice expressed that “…there is no obligation to pay more in taxes than absolutely necessary”. But evading taxes will perhaps land you in jail. That being said, the IRS is NOT going …
My Comments: I try to not post anything with political implications. And while this post looks like one, there are larger issues with implications for Republicans, for Democrats, and Libertarians. I’ve argued for years that the current chasm between the ‘haves’ and the ‘have nots’ in this country must be bridged. This article from the …
My Comments: I think I found this article published in Medical Economics some months ago. I apologize for my inability to provide accurate sourcing. That aside, we have ZERO obligation to pay more in taxes that absolutely necessary. Just remember, the IRS has a responsibility to collect taxes. It’s up to us to figure out …
My Comments: There is a fundamental truth to be gleaned from demographics. A great majority of us live well into our 80’s and beyond. And given the nature of our society, it’s better to have more money than less money. Accounts like an IRA, or a 401k or any number of other titles, implies that …
My Comments: First, this assumes you have a retirement plan and that you have tried to answer the question “How Much Is Enough?”. Second, your answer to this question is still open to debate. And three, you actually have earned income that needs to be reported. In a perfect world, we would have a way …
My Comments: Yesterday, President’s Day, was all about memories and things past. Today, we’re back with a somewhat esoteric idea to help you grow and keep your money. Much of the talk in Washington these days is about income inequality and how much the 1% make each year. For some of us in the 99%, …
Continue reading 5 Key QLAC Rules to Help You Defer Taxable Income
My Comments: First, a DISCLAIMER: I am NOT an attorney and it would be best if no one accuses me of practicing law without a license. There’s an ongoing issue about this in Florida right now. But I do get asked questions about trusts and it helps to have a little basic knowledge. I also …
My Comments: If you have an IRA today, there is a chance there will still be money in it when the inevitable happens and you permanently leave the building. What then with this money? If you have a spouse, and they are the named beneficiary, that money now belongs to them and it becomes their …
Continue reading How to Protect Inherited IRAs After the Clark v. Rameker Decision
My Comments: Earlier this week I introduced the idea of a QLAC. If you didn’t see it, click on the link and check it out. Some of you are going to want to use this contract as soon as it becomes available this fall. Others are going to think about how your investment mix will …
Continue reading New Longevity Annuity Rules: 5 Things to Know
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