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Archive for the ‘Retirement’ Category

Contribute and Convert: Funding Our Roth IRAs Through the Backdoor

Written by Nickel - 8 Comments

As a followup to my post earlier this week on Roth IRA income limits, I wanted to highlight how we typically make our Roth IRA contributions. For background, we’re in a relatively high (and variable) income tax bracket. Because of this, we flirt with the Roth income limits on an annual basis, and it’s hard [...]

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Published on January 13th, 2012 - 8 Comments
Filed under: Retirement, Saving & Investing, Taxes
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Roth IRA Income Limits for 2012

Written by Nickel - Leave a Comment

I recently wrote about Roth IRA contribution limits for 2012, which are unchanged from 2011. Today I want to talk about the current income limits for contributing to a Roth IRA. Here goes:
Married Filing Jointly: Contributions phase out from $173k-$183k
Single or Head of Household: Contributions phase out from $110k-$125k
Married Filing Separately, Living Apart: Contributions phase [...]

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Published on January 11th, 2012
Modified on January 13th, 2012 - Leave a Comment
Filed under: Retirement, Saving & Investing, Taxes
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What are the 2012 Traditional and Roth IRA Contribution Limits?

Written by Nickel - 15 Comments

With just a few days left before the New Year, I thought I’d put together a quick post on IRA contribution limits for 2012. As a reminder, contribution limits have been indexed to inflation since 2008, and can increase in $500 increments (as necessary). As you can see from the table below, however, nothing has [...]

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Published on December 30th, 2011 - 15 Comments
Filed under: Retirement, Saving & Investing, Taxes
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Pay Off Your Mortgage With 401(k) Funds?

Written by Nickel - 13 Comments

Earlier this week, I ran across an article about a new piece of legislation being promoted by two Georgia Congressmen who want to allow people to pull money out of their retirement accounts to pay down their mortgages.
Dubbed the Hardship Outlays to Protect Mortgage Equity (HOME) Act of 2011, the legislation would allow homeowners to [...]

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Published on October 28th, 2011
Modified on November 7th, 2011 - 13 Comments
Filed under: Mortgages, Retirement, Taxes
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Why Reverse Mortgages Are Not a Retirement Option

Written by Hank Coleman - 9 Comments

Everyone has seen how housing prices have taken a nosedive in most markets across America since the start of the 2008 recession. Almost $3 trillion worth of equity has disappeared, and homes are now worth significantly less than what their owners paid for them. This evaporation of equity has dealt a devastating blow to many [...]

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Published on October 27th, 2011
Modified on November 7th, 2011 - 9 Comments
Filed under: Mortgages, Retirement
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Being Retired? That’s So Tired

Written by Jeffrey Steele - 3 Comments

The American paradigm for decades was that you worked for an employer your entire life. Then at 65, you were feted at a retirement party, handed a gold watch by your boss, and sent off on a serene path into your Golden Years.
After 40 or 50 years savoring all the good things about work life [...]

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Published on September 13th, 2011
Modified on September 25th, 2011 - 3 Comments
Filed under: Retirement, Saving & Investing, Working
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An Extreme Early Mortgage Payoff Story

Written by Nickel - 58 Comments

Earlier this week, a long-time commenter named Carlos (aka CharlieBoy) mentioned that he paid off his mortgage early. Having done the same thing myself, I was intrigued, so I sent him a note asking for details.
Within a few hours, Carlos sent a lengthy reply with tons of details. Today, I’ll be summarizing his story.
“My wife [...]

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Published on September 2nd, 2011
Modified on October 26th, 2011 - 58 Comments
Filed under: Mortgages, Retirement, Saving & Investing
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Why You Should Invest Like a Girl

Written by Nickel - 3 Comments

I recently ran across some interesting data on the differences between men and women when it comes to investing for retirement. What follows is based on “How America Saves 2011,” which is Vanguard’s annual report on retirement plans.
And yes, I realize that it’s dangerous to generalize, but there are some interesting nuggets of wisdom in [...]

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Published on July 22nd, 2011
Modified on July 28th, 2011 - 3 Comments
Filed under: Retirement, Saving & Investing
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Life Expectancy, Retirement, and Your Investment Time Horizon

Written by Nickel - 13 Comments

In thinking about how much money you need for retirement, you need to consider both your age at retirement and how long you can reasonably expect to live. The earlier you retire or the longer you expect to live, the more you’ll need to ensure a comfortable retirement, so… Just how long do you expect [...]

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Published on July 6th, 2011
Modified on July 12th, 2011 - 13 Comments
Filed under: Retirement, Saving & Investing
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Working Longer to Afford Retirement?

Written by Nickel - 4 Comments

You’ve likely heard that, due to meager retirement savings, many working Americans will have to delay retirement. Unfortunately, according to a study by the Employee Benefits and Research Institute (EBRI), deferring retirement by a few years won’t be enough to ensure even a bare-bones retirement for millions of older Americans.
In fact, the study found that:
…the [...]

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Published on June 27th, 2011
Modified on June 29th, 2011 - 4 Comments
Filed under: Retirement, Saving & Investing
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