Personal Finance Blog By MoneyRates - Retirement

Retirement Savings: More Americans Worry They Won't Have Enough

July 6, 2010

As the recession's effects linger, worries about retirement savings grow. About a third of Americans are concerned they won't have enough income and assets to finance their retirement, up from 25 percent in February 2009, according to a new survey by the Pew Research Center's Social and Demographic Trends Project. Many of those already at [...]

Don't Forget IRS is Waiving Mandatory IRA Distributions for 2009

May 18, 2009

The tax rules of the IRS are complicated. That's why it is important that if you know a friend or relative who is at least 70 years old and owns an IRA, that you make sure they understand the IRS has waived mandatory distributions for IRA accounts for this calendar year. For a long time [...]

Preventing a Last-Second Tax Disaster

April 15, 2009

Today is a day of panic for millions of Americans. Today is April 15th or "Tax Day". For households who are just now realizing that their checking account or savings account lacks the funds in it to pay their tax bill, viable options remain. What you can't do is procrastinate and not file your return. [...]

Don't Attack Your Retirement Savings

March 3, 2009

Many Americans have shifted their financial focus from investing for retirement to saving and paying down debt. While maintaining an emergency savings fund and paying down high credit card debt should be part of every household’s financial plan, many financial planners are advising their clients not to completely forsake their retirement plans. There may be [...]

Do You Deserve More For Your CD?

February 20, 2009

Almost $130 billion has been paid out to financial managers in the past few years, money that savers and investors didn't get.

Financial Experts Warn Against Tapping Retirement Assets Early

December 9, 2008

The historic loss in jobs over the last 90 days has had an unfortunate impact for thousands (and perhaps millions) of Americans who have been forced to withdraw funds from their Individual Retirement Accounts (IRA) in order to make ends meet. While in some cases the withdrawals may be unavoidable, financial experts across the country [...]

IRS Update on Stimulus Program Rebate Payments

April 21, 2008

The IRS has made the following information available on their website regarding the schedule of rebate payment checks for taxpayers who filed their 2007 tax return by April 15, 2008:Stimulus Payment Schedule for Tax Returns Processed by April 15Economic stimulus payments will be issued according to the last two-digits of the main filer's Social [...]

Retirement Tips from Uncle Sam

April 8, 2008

The US Labor Department has issued a list of the Top 10 Ways to Prepare for Retirement:Know Your Retirement NeedsRetirement is expensive. Experts estimate that you’ll need about 70 percent of your preretirement income – lower earners, 90 percent or more – to maintain your standard of living when you stop working. Take charge of [...]

Stimulus Payment Schedule from IRS

March 25, 2008

Below are the schedules for economic stimulus payments related to tax returns processed by April 15, 2008.Stimulus Payment Schedule for Tax Returns Received and Processed by April 15Direct Deposit PaymentsIf the last two digits of your Social Security number are 00-20Your economic stimulus payment deposit should be sent to your bank account by May 2If [...]

2008 Tax Tip: Deducting Points on Home Mortgage Loans

March 23, 2008

Homeowners face a lot of confusion regarding how "points" paid on their home mortgage loans can be deducted as mortgage interest on their tax returns. The IRS has published the following information on this topic:The term "points" is used to describe certain charges paid to obtain a home mortgage. Points may be deductible as home [...]
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