Month: June 2012

How To Avoid IRA Penalties

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…
Read more

Five Simple Tips To Help Seniors Avoid Investment Fraud

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…
Read more

Can You Beat The Market Using Hedge Funds?

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…
Read more

A New Way To Teach Children About Personal Finance

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…
Read more