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Guide to Self-Directed IRAs
A self-directed IRA could give you a bigger bag of money for retirement. But they carry their own set of restrictions — and risks. Photo: 401(k)
The history of retirement plans in the United States is neither as old nor as extensive as most people think.
The first private pension fund was introduced by the American Express Co. in 1875 as a means of improving employee retention. By 1900, there were only 13 private pension funds in the entire country, and 75% of men over the age of 65 were still working and expected to do so as long as possible. In 1913, Congress enacted the first federal income tax, and by 1914 the IRS ruled that pension contributions were tax deductible.
Small Business Saturday: How Tiesta Tea Brewed Up Its Success
Find a problem in the marketplace and solve it, says Patrick Tannous, co-founder of Tiesta Tea.
It all began with a conversation among friends at a teahouse during a semester in Europe.
It could have ended there, like so many college daydreams do, the wistful chatter that populates so much of undergraduate life. But Patrick Tannous and Daniel Klein made their dream come true.
The exact date of that conversation remains etched in Tannous’ mind. He rattles it off like his Social Security number or some other vital bit of information: Feb. 24, 2009.
On that day, in a traditional Czech teahouse in Prague, lifelong friends Tannous and Klein, who were University of Illinois students at the time, marveled at the flavor of the tea they were sipping.
How to Build Accountability for Your Financial Goals
Consider the people in your life impacted by your actions — accountability can help you follow through on your goals. Photo: David Goehring
It’s really easy to set a big goal for ourselves that expresses a major change we’d like to make in our lives. My goals are often related to finances, fitness, and learning. Yours could be anything.
At the same time, it’s really hard to follow through on those goals for a number of reasons.
First of all, we often see goals as only mattering to ourselves. Internal goals are often seen as only having a personal impact, so if we don’t succeed, we’re the only ones that bear the consequences of that failure.
Perfect Your Sales Pitch to Convert More Customers
Whether it’s a one-on-one sales meeting or an industry event, let your enthusiasm show when you’re pitching to potential clients. Photo: Tech Cocktail
For the budding entrepreneur, the path to success is filled with roadblocks. What might seem like surefire strategies often flame out quickly. The challenge of attracting and keeping customers requires extensive research of your market and attention to detail. There may be false starts along the way, but this seven-step process will help you perfect your sales pitch and seal the deal:
Step 1: Know Thy Prospect
Do your homework to discover what makes your prospects tick or what problems you can solve for them.
The Very New Deal: How FHA Mortgages Are Changing for 2015
There are some changes coming to popular FHA mortgages this year. Photo: Mr. T in DC
By Peter Miller
The federal government established the Federal Housing Administration (FHA) mortgage program in the 1930s under Franklin D. Roosevelt’s New Deal, and it’s been a big hit ever since. In fact, more than 40 million FHA loans have been originated under the program, with large numbers going to first-time buyers.
What makes the FHA program so attractive? FHA loans are no-nonsense financial products that everyone can understand.
Should Community College Be Free?
President Obama has proposed offering qualified students two years of free community college tuition. Photo: Brad Montgomery
Attending community college is already a great way for some students to ease their student loan burdens. But President Obama unveiled a proposal Thursday that could erase that burden altogether, offering two years of free community college to students “willing to work for it.”
Retiring Abroad? What You Need to Know About Health Insurance
A beach in a faraway land may seem like the ideal retirement spot, but how close is it to a hospital? Photo: Ken Teegardin
So you want to pack up all your cares and woes and retire overseas. The world is full of possibilities, from hundreds of thousands of miles of warm and habitable coastline to mountain towns and cosmopolitan cities on six continents.
Your retirement benefits including Social Security will travel to your destination. However, one thing that won’t follow you overseas is your health insurance.
Should Your Goal Be to Die Broke?
In a perfect world, you might spend your last dollar on your last day. But we don’t live in a perfect world. Photo: kayugee
Danny writes in with a good question:
A lot of the retirement articles I read talk about saving enough for retirement so that you only have to take out 4% a year so that it will last forever. But why would you want that? I certainly don’t plan to last forever and I don’t have any kids to pass it down to. Shouldn’t my goal be to die broke?
You’re absolutely right. In a perfect world, the goal of retirement savings would be to ensure that on the day you pass away, you leave nothing behind unless you want to leave an inheritance for your spouse or children.
However, we don’t live in a perfect world, for several reasons.
Five Indispensable Apps to Save Money When You Shop
Who has time to clip coupons? With some shopping apps, you don’t even have to scan them. Photo: Carol Pyles
How many people still clip coupons from the newspaper? And if you do manage to find the time to sit down and review weekly coupon offerings, do you then remember to take them to the store when shopping?
I’m not that organized. Clipping coupons has almost become an antiquated way of doing things amid the rise of online shopping, the disappearance of so many newspapers, and, of course, our ever-busier lives.
As U.S. newspapers have dwindled, however, the budget shopping apps for your phone have multiplied, making shopping with coupons far easier.
The Best Airline Credit Cards for 2015
This year, I decided to take a fresh approach to the best airline credit cards. With rising fares and falling oil, no one knows the future for air travel prices, but these cards will still offer you great sign-up bonuses and the ability to earn air miles in your frequent flier program to put towards free flights. Some airline credit cards offer additional perks and benefits, like companion fares, priority boarding, and free bags.
I still don’t believe you should own an airline card as your primary credit card (see my rules for owning an airline credit card below). Before choosing an airline card from this list, make sure you set yourself up with an all around best rewards travel credit card.
Here is the top travel credit card to consider (I share all the best airline cards just below):
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