Taxes 
0
comments

Tax breaks for teachers and others getting the ax next year

Teacher tax credits and others will disappear next year.Which tax breaks have you become accustomed to? Over time, even many  tax breaks that are written to be temporary from the get-go start to feel like they will be around forever. As a result, it’s often a shock when these tax breaks disappear rather abruptly. In fact, it often feels like a tax increase when these breaks expire. If you’re not paying attention for tax planning purposes, such changes can mean a large — and unexpected — tax bill.

(Click to continue reading…)


 Personal Finance 
14
comments

Want to do well financially? Don’t listen to baby boomers

Boomers have lots of advice for millennials about money but you probably shouldn't listen to any of it.I’m a little annoyed with the baby boomers these days.

While many younger people are having well-documented trouble finding jobs, there seem to be a lot of boomers making good money writing crotchety op-eds about all the ways that millennials fall short. They’re not career oriented enough, they say. They’re too dependent on their parents, they say. They stay single too long, they don’t think enough about the future, and so on.

(Click to continue reading…)


 Your Take 
9
comments

Your take: Is stock investing for suckers?

Do you still believe in stock investing?I don’t blame people for wanting to give up on investing in stocks.

In the last 20 years, we’ve had a massive tech bubble burst, two recessions and a financial crisis that cut the value of the S&P 500 by more than half in a matter of months.

If stocks were a party guest, they’d be the rowdy drunk who you finally stop inviting to things after they break their third lamp.

(Click to continue reading…)


 Personal Finance 
14
comments

Financial education not helping consumers make better money moves

Financial education isn't working right now. Please try again later.Even with new regulations put in place after the financial crisis, we still have a pretty caveat emptor (let the buyer beware) approach to finance in this country.

Americans are mostly free to take out an adjustable rate mortgage with a crappy rate that will leave them eating ramen every night, or invest all their retirement savings in high-risk foreign stocks if they want to, based on the premise that consumers themselves are the best judge of what financial products are right for them.

(Click to continue reading…)


 Retirement 
2
comments

Imagining your future self, continued

Visualizing yourself living with today's decisions 40 years from now can helpLast week I wrote about a study that suggested visualizing your future self is a good way to get motivated to save for the future. I had a chance to speak to Hal Hershfield, marketing professor at New York University’s Stern School of Business and one of the authors of the study, about what his work means for all of us trying to whip our finances into shape.

First off, if you have a hard time caring about that wrinkled old person you’ll one day become, you’re not alone. A lot of research suggests that most people have a really hard time prioritizing their financial future over their present wants and needs, Herschfield says.

“One of the reasons why people fail to save in a way that puts themselves in a better position in the future is they fail to feel connected to that distant self who will exist down the line,” Herschfield says. “They fail to vividly imagine what their future selves will want and desire and need, and it’s much easier to think about what you need and desire today.”


(Click to continue reading…)


 Government 
16
comments

Your take: Are you worried about US default?

Have you learned to stop worrying and love default?It’s now less than a week until the federal government is projected to run out of accounting tricks and come up hard against the debt limit, the maximum amount the U.S. is allowed to borrow under existing law.

After that, what happens next is hard to predict. The government might be able to prioritize payments to Treasury investors for a while by stiffing other groups owed money, such as active military personnel and Medicare and Social Security recipients.

(Click to continue reading…)


 Investing 
10
comments

How a debt ceiling crisis and U.S. default would annihilate your 401(k)

If you own stocks and the U.S. breaches the debt ceiling, you're gonna have a bad timeIf you’ve been tuning out the dire warnings coming from economists and politicians about a possible debt ceiling crisis, I can’t really blame you. Politicians in particular spend a lot of time stirring up public fear about supposedly imminent but ultimately nonexistent crises in order to push their policy agenda (“the domino theory,” “death panels,” etc.).

But I believe a failure to raise the debt ceiling, and the default of Treasury debt it would trigger, would have real and seriously crappy consequences, particularly for all the people invested in the stock market through their retirement plans.


(Click to continue reading…)


 Personal Finance, Retirement 
6
comments

Will your future self thank you, or curse you?

What will your future self's life look like?I don’t remember when my wife and I started talking about our past selves and our future selves, but for years we’ve been doing it as a way to motivate ourselves through tough moments, especially when we’re making our lives difficult in the present to help ourselves in the future.

“My future self had better appreciate this,” we’d say as we pulled old carpets up on New Year’s Eve so we wouldn’t have to do it after we had moved in and put all our furniture on top of it. Or when we set up an automatic direct deposit to a savings account that tended to leave our checking account pretty empty by the time the next paycheck rolled around.

Somehow, picturing our future selves not having to stress about a flat tire or unexpected medical bill made it easier to save in the here and now.

We may have been on to something with that.
(Click to continue reading…)


Advertising Disclosure: Bargaineering may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.
About | Contact Me | Privacy Policy/Your California Privacy Rights | Terms of Use | Press
Copyright © 2014 by www.Bargaineering.com. All rights reserved.