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November 17, 2006
11-17-2006 - Items of Interest to Family CFOs
Taxes
Under the tax law, inheriting money in an IRA was better for your heirs than inheriting it while it was in a 401(k). 401(k) money was not subject to the "stretch" provisions like an IRA was. That will change in January, 2007 when the Pension Protection Act of 2006 goes into effect. From now on, beneficiaries will effectively get the same tax treatment with both IRA and 401(k) money. (Financial Advisor)
Investing and Retirement
Canadian income trusts have been one of the best income investments in recent years. Dividends have ranged from 6% to 9% over the last few years and have been a favorite of in-the-know income investors. These trusts were able to pay such high dividends because of the very favorable tax treatment they received from the Canadian government. No more. In a surprise move, the Canadian government has proposed a tax on distributions that has investors up in arms and sent shares of the income trusts reeling. (London Free Press)
Participation rates in retirement plans is down from 2004! Only 55% of 24-64 year olds participate in a retirement plan. The message is not sinking in. I fear it won't either until younger people begin to see the impact of inadequate retirement savings affecting their parents and grand-parents. But by then it will be too late for tens of millions of people. Call me chicken little but I worry how we are going to pay for all these people. (Employee Benefit Research Institute)
Great chart courtesy of Barry Ritholtz. Great illustration that experts don't know what is going to happen any more than you do. (The Big Picture)
Good commentary by Michael Mauboussin, Chief Investment Strategist at Legg Mason, on why chasing what's hot is a fool's game. (Time)
EBRI looks at the data on the increasing level of debt in families with a family head age 55 or older. The long and the short of it is that we are retiring with more debt than ever before. (Employee Benefit Research Institute) The study is available at www.ebri.org .
Chuck Jaffe, MarketWatch columnist, gives some ideas about financial gift giving this holiday season. MarketWatch
Thoughts on any of these? Feel free to leave your comments below.
Kim Snider, Kim Snider Financial Communications, Chronim Investments and/or Snider Advisors make no representation that the information and opinions expressed are accurate, complete or current. The opinions expressed should not be construed as financial, legal, tax, or other advice and are provided for informational purposes only. Call 866-952-0100 to request the Snider Investment Method™ Owner's Manual, which includes a description of the Snider Investment Method, investment objectives, risks, suitability and other information. Please read and consider carefully before investing. All investments are subject to risk including possible loss of principal.
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Kim Snider is an author, speaker and host of Financial Success Coaching, Saturdays at noon, on KRLD Newsradio 1080, Dallas - Fort Worth. This blog is primarily devoted to empowering individual investors with information to help them be good stewards of their money. Above all, it is about achieving true financial success. Kim's book, How To Be the Family CFO: Four Simple Steps to Put Your Financial House in Order is in bookstores now. Order yours from Amazon or other fine booksellers today.
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