The Wall Street Journal recently reported that the IRS will be going after taxpayers that made contribution or withdrawal errors in their IRAs. There were over $280 million in uncollected tax penalties in 2007, according to the Treasury Inspector General for Tax Administration. That’s low-hanging fruit for a federal government strapped for revenues. With this…
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A recent poll by the Investor Protection Trust, a non-profit devoted to investor education, found that almost 60% of respondents — all professionals who work with the elderly — deal with elderly victims of investment fraud “quite often” or “somewhat often.” The respondents included state securities regulators, financial planners, medical professionals, social workers, caregivers, and…
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Vanguard, the large mutual fund company, recently released a study that attempted to answer the following two questions: Do hedge funds consistently outperform standard market benchmarks? Do hedge funds represent “alternative” investments with good diversification potential relative to stocks & bonds? Vanguard’s conclusion: “No” to both questions. Titled “A mixed bag: Performance of hedge fund…
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The President’s Advisory Council on Financial Capability recently released Money as You Grow, a website that provides 20 essential, age-appropriate financial lessons—with corresponding family activities—that kids need to know as they grow. Written in down-to-earth language for children and their families, Money as You Grow is intended to help parents equip kids with the knowledge…
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