James C. Molet's Blog, page 64
April 11, 2015
Today’s Taxes for Tomorrow’s Retirement
A Savvy Contributor: Jenna is a freelance blogger who is mainly focused on business innovation and breaking stories in business. She has been blogging since college where she studied marketing and has merged her love of keying stories into copy writing work as well as plenty of reading and writing for fun! Find and follow her on Twitter! April showers are starting to fall, and tax season is drawing to a close. Have you decided what to do with your tax refund? Savvy planners understand that it is time to Read the Full Story
March 21, 2015
Get Ready for Impacts to Your Retirement Accounts
As we careen toward the filing deadline for the 2014 tax year, now is a perfect time to look ahead to see what new changes to retirement accounts – starting this year and impacting the return you file in 2016 – have been implemented by the IRS. It is likely that one or more of the following will apply to you. It behooves you to understand how the changes might impact your return next year: Limit for defined contribution plans (e.g. 401k) The MyRA Limit on IRA rollovers AGI phase-out ranges Read the Full Story
March 14, 2015
Saving Money On Home Utility Expenses – Tips For First Time Homeowners
Guest Contributor: Jenna is a freelance blogger who is mainly focused on business innovation and breaking stories in business. She has been blogging since college where she studied marketing and has merged her love of keying stories into copy writing work as well as plenty of reading and writing for fun! Find and follow her on Twitter! First time homeowners may be unaware that the rising cost of energy bills can put a strain on their monthly budget. Without knowing ways to save money on utility bills, you can enter Read the Full Story
March 7, 2015
Poverty in Silicon Valley
Interactive Presentation: The Poor Kids of Silicon Valley (2015). John D. Sutter – Presented in a slide show/video interactive format, this CNN opinion piece focuses its gaze on poverty in one of the wealthiest places in the United States, the Silicon Valley in California. The presentation begins by noting that California’s Silicon Valley is one of the wealthiest places in the United States. Whereas the U.S. median household income is just over $53,000, it exceeds $88,000 and $91,000 in San Mateo and Santa Clara Counties respectively. Mr. Sutter visited Silicon Valley to see what Read the Full Story
February 28, 2015
Personal Finance Concepts Wrapped in Thrillers
While I enjoy running the blog, last year I began looking for a different way to be more creative and communicate with those interested in personal finance. That idea led to my first novel, Cream City Hustle. The idea behind the book was simple; communicate personal finance concepts and ideas within the framework of a fictional thriller. The story’s protagonist, 20-year old Marcus, faces the same challenges many other Millennials are now confronting: building and maintaining an emergency fund, controlling debt and starting the process of saving for retirement. Fittingly, those practices Read the Full Story
February 24, 2015
Sin City Greed
Book: Sin City Greed (2015). James C. Molet – This second Personal Finance Thriller follows a group of resilient retirees as they hatch a scheme to recover their stolen money. In the heat of the Las Vegas Valley, American Greed meets Ocean’s Eleven. THE PROLOGUE Las Vegas. Near the intersection of Paradise and East Flamingo Roads. From his second story office Carlton F. Morrison III, the founder and CEO of Blackstone Financial Services Group, watched as the sun set on the mid-June day. Soon the distant lights would shine bright and the world famous Read the Full Story
February 21, 2015
An Observation
My job takes me on the road on a regular basis, and as a Marriott member, I always look to stay at a Marriott property; typically a Courtyard, TownePlace Suites or Residence Inn. Occasionally, be it a business or a personal trip, I will stay at a higher end Marriott property such as a Ritz Carlton. That was the case during my most recent trip. And during that trip I observed something that I have observed in the past and was reminded of again. During a typical week when I Read the Full Story
January 31, 2015
The RMD Withdrawal Strategy
Previously I have discussed the 4% Rule, a popular and well-known method of withdrawing money from retirement accounts. I noted then that the rule – developed by William Bengen – posits that if a retiree takes out 4% of their nest-egg the first year in retirement, and then adjusts that rate to account for inflation in each subsequent year (e.g. if inflation rises 1% during the first year of retirement, 5% would be taken out during the second year in retirement), they will not run out of money for at least Read the Full Story
January 27, 2015
Lower Your Car Insurance Bill
Courtesy of @SMHuntington
January 24, 2015
Sequence of Returns Risk
So, what is Sequence of Returns Risk? It is the danger retirees face of receiving lower or negative returns early in retirement when withdrawals are made from their underlying investment accounts. Two retirees with identical wealth can have entirely different financial outcomes, depending on when they start retirement. A retiree starting out at the bottom of a bear market will have better investing success in retirement than another starting out at a market peak, even if the long-term averages are the same. In short, it has to be understood that it is not just the average Read the Full Story
