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Think of it as a holiday surprise. Before leaving for their break, our elected representatives on Capitol Hill actually did something that helps “we the people.” Imagine that! Congress suspended the rules forcing you to take a required minimum distribution (RMD) from your retirement account in 2009. This change applies to those of you who have reached the age of 70-1/2, as well as anyone with an inherited IRA. That means you can skip your 2009 RMD with no penalty! This is terrific news. If you don’t need that money to live on, you won’t be forced to take it out at a big loss or withdraw a large chunk from a now much smaller nest egg. But (there’s always one of those, isn’t there?), the downside is that this legislation does not affect 2008 plan payouts—not yet anyway. It is possible that the Treasury Department may do something to reduce RMDs for this year, but that is still very much up in the air. And in case you hadn’t noticed, we’re fast approaching the end of the year. So what should you do now? Click here for our latest advice. We’ll also help you be sure that you are making the most out of your IRA with some last-minute year-end advice and little-known rules that can make a big difference in times like these! It has long been a custom during the holidays to tip those who provide good service to you during the year—your newspaper carrier, hairdresser, doorman, babysitter or nanny, and so on. The problem is that most of us are never quite sure just how much to give. You don’t want to overpay, especially this year when money is so tight. On the other hand, you don’t want to be too stingy either because it could affect the quality of the service that you receive next year. (We lived in New York for more than 20 years, and boy could we tell you some hair-raising stories about scorned servicemen!) We’re here to sort it all out for you. Click here to watch our video guide to holiday tipping. We’ll share some quick rules of thumb about the people you should tip and in the right amount so that you don’t look like Ebenezer Scrooge!
You may well have missed this news at this busy time of year, but last Friday, two more banks were taken over by the government: Sanderson State Bank of Texas and Haven Trust Bank in Georgia. A whopping 25 banks have now failed this year. Imagine, years of hard work and a lifetime of savings gone in an instant—if the deposits were not FDIC insured. We don’t want to see that happen to you. And we don’t want you losing any sleep worrying about whether your bank is next. We’ll show you exactly what to do to find out if your bank is safe…identify warning signs that your bank could be in trouble…which simple steps to take to ensure your money is fully protected…and more. Sincerely,
Ken & Daria Dolan |
First, we had an agreement in Congress to bail out the Big Three automakers. Then we didn’t. Now we have President Bush saying the government will step in with some sort of assistance.
Gift cards have become a huge staple of the holidays. They’re easy and convenient, and the person you give them to can pick out whatever he or she wants! So what’s not to like? Well, for starters, nearly $10 billion in certificates go unused each year. And this year, some stores may go out of business before you redeem the gift cards. So how can you avoid throwing money down the drain? 
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