Tuesday, December 14, 2010

"Restoring" The Middle Class - Promise or Threat?

It's pretty well known that the middle class is shrinking in this country.  Usually, when politicians cite the shrinking middle class, they are implying that most people are getting poorer - possibly that the "elite" are somehow actively campaigning to drain the middle class to turn more Americans into wage slaves.  Both parties seem to use this rhetoric - Democrats use the shrinking middle class to justify additional spending on social programs.  Republicans use the shrinking middle class to justify stances on taxes and immigration.

The issue has become intensely politicized, but let's take a look at some fundamental data and we may see something really interesting going on!

Sunday, December 12, 2010

Year End Planning - Make $300K with Charitable Donations

Here's another short post with a financial aspect that you may want to look into before the end of the year.  Our previous tip was to give yourself an immediate raise by adjusting your withholding - the extra money can even go toward your 401K or an IRA. 

Friday, December 10, 2010

Converting To A Roth IRA? - Part 2

This is a continuation of Part 1 with regard to Converting to Roth IRA.

Converting To A Roth IRA? - Part 1

As many of you know, in 2010 the AGI limitation for converting a traditional IRA to a Roth IRA has been removed.  For many lawyers, this means 1) a great of questioning as to whether the lawyer should be converting a traditional IRA into a Roth IRA, or 2) that the lawyer may have their first crack at actually putting any money into a Roth since the program began - due to the income limitations for contributing directly to a Roth that previously existed.

But does it make sense for you to convert to a Roth?  The question is actually best answered in the context of your total IRA and 401K situation.  I'll outline a methodology for determining whether you may want to convert to a Roth IRA below, and then address some concerns about the conversion.  This post got kind of long, so I have broken it into two Parts.