Well, when the President talked about the State of the Union, I didn’t think he would start talking about any women (except maybe Michelle), but right in front of his wife he started talking about his new girl, MyRA. Who is this chick, anyway? Well, look at this post in USAToday by Gregory Korte and John Waggoner to find out more about the Obamas’ new main squeeze (apparently Michelle is ok with her, too): http://www.usatoday.com/story/news/politics/2014/01/28/obama-state-of-the-union-myra-savings-plan/4992743/ There are some big plusses and potential minuses to this new retirement savings plan – you can only put your retirement money into low return assets that the Federal Government guarantees will not lose money, but probably not make much money either. This is effectively a Roth IRA with low initial contributions (its investing limits and income limits are just like a Roth) with only one investment option until you accumulate $15,000 – then you have to change to a regular Roth IRA. It is a nice idea to start people saving with low contribution minimums, but it is more of a gimmick than a new idea. Be careful, this girl could break your heart if you want a large nest egg when you retire! For financial, accounting [...]
Financial Musings of a Burbank CPA: When to retire? It’s not just about the money!
There are many reasons for a person to retire that go beyond work earnings (just as there are reasons to keep working that go beyond earnings.) See this post in MarketWatch in The Wall Street Journal by Andrea Coombes for more reasons: http://www.marketwatch.com/story/when-to-retire-its-not-just-about-the-money-2014-01-24 Health and finances can always play a role in when to retire, but insurance, wanting to keep active, loving what you do plus a thousand other factors also can tip the balance one way or the other. Try to make the decision yourself if you can; don’t let it be made for you. Even if you have to work elsewhere, don’t let someone talk you into retirement if you still want to work! For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Has been Featured On https://twitter.com/bstonercpa
Musings of a Los Angeles CPA: In the Old Days, Job Retirement Meant Death or Inability to Work Anymore!
There is definitely a history to the idea that you should work till you drop. Modern retirement wasn’t started until the late 1800s. See this post by Paul Wiseman in the San Jose Mercury News about this history: http://www.mercurynews.com/business/ci_24935309 Just remember, if you do something you love and make money doing it, why would you want to retire anyway (maybe going part-time has an appeal, but stopping work altogether?) If you stop working in your dream job you will get bored doing something else (how much golf and vacations can you really do - all the time?) I will probably be doing this until I am old and gray (another 2 years at least!) For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Has been Featured On https://twitter.com/bstonercpa