You have a 401(k), right? Sure you do. And you have one (or more) because everyone tells you it’s a heck of a deal. But has anyone ever told you that your IRS qualified fund strategy could end up being a horrible weight on your retirement?
Every January, you opt in to contribute to your 401(k) the maximum allowed that year. You’ve been told over and over that this type of retirement fund will become a nice big nest egg for your retirement on dollars you never paid tax on! Isn’t that something?! What could possibly be wrong with stiffing Uncle Sam every year for the taxes you owe on that maximum contribution?
Well, a lot, actually.
Photo by Nicki Varkevisser on Flickr (http://www.flickr.com/photos/clickflashphotos/)
Last week, I promised to give you some thoughts on nursing home care. And here it is!
Now that we’re living longer than ever, we need to ask some tough questions about how to care for our elders (and ourselves) when the time comes. Making the decision to place a loved one in a nursing home can be one of the most heart-wrenching decisions you’ll ever make.
Mom, long before her last illness.
Can you believe this woman had 10 kids?
Making a decision about who would raise your children if something happened to you can be puzzling and even dramatic—especially for a married couple trying to agree on potential guardians. Rest assured, you know your children better than anyone and you’re uniquely qualified to make the decision in a way no one else is—not even a judge. So before you throw your arms up with an “I have no idea who to pick!” here’s a method to come to a decision that you can live with. REMEMBER: guardian nominations can be changed and should be changed over time as your children grow and their needs change. Don’t be afraid to make a decision and then change it later. That’s the natural progression of childhood in operation.
Does this kid looks like he needs a special kind of guardian? Oh yeah.