Simple retirement account

SIMPLE Retirement Account (SRA) Merrill Lynch Wealth Management's savings incentive match plan for employees (SIMPLE) retirement account (SRA) ...

We'd like to make a 401k hardship withdrawal to use the funds towards down payment of a house (my wife and I are first-time home buyers). We have about 40k in the 401k (fully vested) and after paying 10% penalty and fed&state taxes, we should remain with about 25k. Now, we learned from our plan administrator (ING) that things are not so simple: first we have to "exhaust all other loan options". This means concretely that we have to borrow about 20k from the 401k and pay it back with 5% interest. Only the remaining 20k can be used for a hardship withdrawal. This kind of defeats the purpose of what we want to do, namely to generate as much hard cash from the 401k as possible which then can be used towards the down payment. The question is if the practice of requiring to exhaust all other loan options is legal and if others have heard about similar "gates" that are throws up by the plan administrators. Also, we were wondering if there is another way to get the full money applied towards the withdrawal (and none against a loan). Of course we know that some people think that it is a bad idea to make early withdrawals from a 401k. We took into account in the decision to case out the 401k not only the nerve-wrecking ups-and-downs in 401k plans over the past 2-3 years, but also the recent rumors that the US government might turn 401k plans into annuity plans at some point in the future to finance the public debt (effectively turning your contributions into a government IOU for retirement). I appreciated all responses so far, thanks a lot! So far the responses are missing the point, which I try to clarify better: this is a technical question of how to extract a maximum amount of cash out of the 401k and whether a 401k plan administrator is actually permitted to throw up gates by demanding to exhaust all other loan options first. Whether it makes sense financially or whether this is against the spirit of 401k based retirement plans is not the question.

Here's my story, sorry if it's a bit lengthy. At the tragic expense of my grandfather's sudden and early death, I've recived my multi-million dollar inheritence earlier than anticipated. He was an executive for Warren Buffets Berkshire Hathaway and bought up several hundred shares of stock while they were dirt cheap. My current financial situation is this: A 41 year annuity of $207'000.00 a year (Actually direct deposits monthly.) Also a secluded cabin in the Hawaiian islands as my permanent residence, and 1.5 Million remaining in uncommited dollars spread out in three bank accounts, that will be my retirement when my annuity runs out at the age of 61. As you can see, I'm a 20 years man and set for life. Further more, and you can correct me if I'm wrong about this, that's why I'm here asking, but it would seem that I have nothing to lose when I go in for my final check. You see, a week from this friday, I go in for my final check. I am assistant manager at a golf course and absolutly despise the boss. She has made the last year of my life miserable, and instead of going out with a handshake, I'm thinking of going out with a literal bang. Because, I live in Pensacola county Florida, and my flight to my new life in Hawaii is 11am a week from friday in Tampa. So, two hours before the flight, I get there at opening at 9am, noone else is there, I get my check, rough her up a bit then high tail it out of there. This is my opinion: Even though Tampa, the location of an airport is a neighboring county, the process of extradition remains nonetheless. So, even if she can tell the police I'm there (Which I do not believe she would know), there would be way too much legistical stuff to be able to get me before the flight takes off. (Even if they did, i could pay my bail, then leave, and consider it worth it.) As single mom collecting child support, we can rule out her suing. She would not only have travel expense that she likely cannot afford, but there's absolutly no way on earth she can afford an attorney who can take on the one I hire. Not to sound like I'm gloating, but I can afford any attorney on earth, she cannot. Expect her to not even consider civil action. I don't like her attitude, but she's not downright stupid. Last but not least, this IS a repost. I'm asking again because last time everyone was talking about extradition. Consider it this way: The DA is going to pay out of his budget, provided by taxpayers, to have me extradited all the way back from Hawaii over a simple assualt charge. He's gonna cover the expense of my arrest in Hawaii, and pay to put me on a plane, and fly me halfway across the pacific just to get to the west coast, than transfer planes on or two times back to tampa? Simple assault charge? I think we can rule out extradition of that distance for 90 % of all crimes. So, am I foolproof.

Here's my story, sorry if it's a bit lengthy. At the tragic expense of my grandfather's sudden and early death, I've recived my multi-million dollar inheritence earlier than anticipated. He was an executive for Warren Buffets Berkshire Hathaway and bought up several hundred shares of stock while they were dirt cheap. My current financial situation is this: A 41 year annuity of $207'000.00 a year (Actually direct deposits monthly.) Also a secluded cabin in the Hawaiian islands as my permanent residence, and 1.5 Million remaining in uncommited dollars spread out in three bank accounts, that will be my retirement when my annuity runs out at the age of 61. As you can see, I'm a 20 years man and set for life. Further more, and you can correct me if I'm wrong about this, that's why I'm here asking, but it would seem that I have nothing to lose when I go in for my final check. You see, a week from this friday, I go in for my final check. I am assistant manager at a golf course and absolutly despise the boss. She has made the last year of my life miserable, and instead of going out with a handshake, I'm thinking of going out with a literal bang. Because, I live in Pensacola county Florida, and my flight to my new life in Hawaii is 11am a week from friday in Tampa. So, two hours before the flight, I get there at opening at 9am, noone else is there, I get my check, rough her up a bit then high tail it out of there. This is my opinion: Even though Tampa, the location of an airport is a neighboring county, the process of extradition remains nonetheless. So, even if she can tell the police I'm there (Which I do not believe she would know), there would be way too much legistical stuff to be able to get me before the flight takes off. (Even if they did, i could pay my bail, then leave, and consider it worth it.) And, although a state wide warrant for my arrest would be issued (And as a person who interned for the DA in high school I know it would be only statewide) it would not affect me anywhere else. I can guarantee that the DA's office will not pay precious money out of their budget to extradite me all the way back from Hawaii over a simple assault charge. Also, she's in no position to sue: My annuity and my bank accounts except for one small one is all Swiss based. Will SOME Swiss banks disclose the accounts existance? Yes, but I'm not concealing them anyway, and they still will NOT aid any US court or IRS in freezing, garnishing the funds in any way. Plus nonpayment is judgement is not a criminal offense, it's civil. But even before that, she knows who can afford the much better attorney, and suing across state lines, plus the travel expenses of coming to the islands, simply costly to the extent that it wouldn't be in her udget. I hate her, but stupidity is not the reason. She's smart enough to realize what I just said. Without lectures, without telling me to get over it and enjoy my new freedom (Believe me I will afterwards) am I foolproof? A week from today I should say

Here's my story, sorry if it's a bit lengthy. At the tragic expense of my grandfather's sudden and early death, I've recived my multi-million dollar inheritence earlier than anticipated. He was an executive for Warren Buffets Berkshire Hathaway and bought up several hundred shares of stock while they were dirt cheap. My current financial situation is this: A 41 year annuity of $207'000.00 a year (Actually direct deposits monthly.) Also a secluded cabin in the Hawaiian islands as my permanent residence, and 1.5 Million remaining in uncommited dollars spread out in three bank accounts, that will be my retirement when my annuity runs out at the age of 61. As you can see, I'm a 20 years man and set for life. Further more, and you can correct me if I'm wrong about this, that's why I'm here asking, but it would seem that I have nothing to lose when I go in for my final check. You see, a week from this friday, I go in for my final check. I am assistant manager at a golf course and absolutly despise the boss. She has made the last year of my life miserable, and instead of going out with a handshake, I'm thinking of going out with a literal bang. Because, I live in Pensacola county Florida, and my flight to my new life in Hawaii is 11am a week from friday in Tampa. So, two hours before the flight, I get there at opening at 9am, noone else is there, I get my check, rough her up a bit then high tail it out of there. This is my opinion: Even though Tampa, the location of an airport is a neighboring county, the process of extradition remains nonetheless. So, even if she can tell the police I'm there (Which I do not believe she would know), there would be way too much legistical stuff to be able to get me before the flight takes off. (Even if they did, i could pay my bail, then leave, and consider it worth it.) And, although a state wide warrant for my arrest would be issued (And as a person who interned for the DA in high school I know it would be only statewide) it would not affect me anywhere else. I can guarantee that the DA's office will not pay precious money out of their budget to extradite me all the way back from Hawaii over a simple assault charge. Without lectures, without telling me to get over it and enjoy my new freedom (Believe me I will afterwards) am I foolproof? PS: I should mention that the bank accounts are Swiss based, and while they now disclose the existents of accounts to the IRS, they will not freeze/hand over any money. Plus the State of Hawaii SC has ruled that annuity funds cannot be touched for judgements/law suits. So she can't collect on anything if she sues, and failure to pay judgements is civil, not criminal. She would quickly find that out and not even waste money trying. Plus I hope she has a very good attorney, I don't think there's one I couldn't afford.

A young person with no initial capital invests k dollars per year in a retirement account at a rate of return 0.08. Assume that investments are made continuously and that the return is compounded continuously. (a) Write a differential equation which models the rate of change of the sum S(t) with t in years. (b) Use part (a) to determine a formula for the sum S(t) - (this will involve the parameter k): (c) What value of k will provide 3 035 000 dollars in 44 years? ****For part (b), I thought the answer would just be S = 1.08kt, and then (a) just dS/dt = 1.08k...but this is not correct according to my online homework application...can someone explain to me how to get the differential equation? Thanks in advance!!

I don't completely understand exactly how they work at all, to be honest. But my math teacher recently showed us that contributing a couple thousand dollars a year every year for about 10 years at least 40 years before retiring could end up giving you over a million dollars upon retirement. Now, I see it's not quite so simple. I have several questions.... 1) Do taxes play any part in Roth IRAs? Or is it just you deposit, watch it grow by the rate, and then withdraw the exact amount? 2) Can a minor make an account? According to this - http://www.kiplinger.com/columns/drt/archive/2008/dt080130.html, it appears it is possible. However, it also seems that you need an income to put money into it. Would buying/selling misc. things (some virtual goods, others real goods) over the internet qualify as an income that I could cite if putting money into a Roth IRA? 3) How often is the interest compounded? Or does it vary? 4) What's the rate? Or does it vary? 5) Are you guaranteed anything, or is it possible your money will all disappear?

Mine is pretty simple. I love the guy, but yet I dont want to risk losing my house, which i acquired on my own before we met. He owns a tax/accounting business and I am thinking to protect the house i bought for my parents, I will be upfront and get an attorney to write up a prenuptial. My assets before marriage is: 1. My Property (which I bought for my parents and will be using my own income to pay mortgage) 2. My Car 3. My 401k Retirement He owns just: His tax office w/ about 500 clients that file taxes each year and make about 100k annual w/ that tax business. So how do I protect my house so that if we ever get sued in the future, no1 can go agaisnt my parent's house? Should I set up an LLC, that owns the property, and put the property under a living trust? Then on the prenuptial, state that house, car, and retirement is mine, and business net-worth is his? the prop will be vested: Me, Owner Acquired as a single women before marriage. Please help, thank you!

Mine is pretty simple. I love the guy, but yet I dont want to risk losing my house, which i acquired on my own before we met. He owns a tax/accounting business and I am thinking to protect the house i bought for my parents, I will be upfront and get an attorney to write up a prenuptial. My assets before marriage is: 1. My Property (which I bought for my parents and will be using my own income to pay mortgage) 2. My Car 3. My 401k Retirement He owns just: His tax office w/ about 500 clients that file taxes each year and make about 100k annual w/ that tax business. So how do I protect my house so that if we ever get sued in the future, no1 can go agaisnt my parent's house? Should I set up an LLC, that owns the property, and put the property under a living trust? Then on the prenuptial, state that house, car, and retirement is mine, and business net-worth is his? the prop will be vested: Me, Owner Acquired as a single women before marriage. Please help, thank you! He does have an Scorp, but I am thinking if anything ever happens w/ us, I want him to sign off leasing all interest in my property

Ok so I have been trying to do these problems for a couple hours now, and I still can't figure them out. Please help and give as much detail in your answers as possible so I can understand it. Thank you! Herman and Grace Rohrbach are in their mid-thirties. They are reasonably well off financially insofar as Grace's mother has established a trust fund to educate their two children. The Rohrbachs lead rather simple lives and have no desires for lavish spending. However, they do face one major financial challenge: how to have sufficient resources in their retirement years. Herman owns his own camera shop and Grace has no employment income, although she often works in Herman's store. The Rohrbachs have accumulated around $50,000 in savings, which is invested in a bond mutual fund, currently earning 5 percent after taxes. They have no other savings programs, either personal or through the business. If Herman retired today, his only income would be Social Security, which he estimates to be $18,000 annually. He would sell the business immediately prior to retirement. He has no idea what it will be worth then, but he believes he could get $100,000 for it today. To live a comfortable retirement, the Rohrbachs think they need an annual income comparable to their current one, which is $60,000 after income taxes. The Rohrbachs clearly need help to determine if they need to increase their annual savings to meet their retirement goal. Finally, the Rohrbachs will live off Social Security and interest from accumulated savings available at retirement. They will not touch any principal in their savings accounts, preferring instead to leave that money to their children. Retirement is planned in 30 years. 1. Social Security is indexed to inflation. IF the inflation rate is 3 percent over the next 30 years, how much Social Security income will the Rohrbachs receive? How much will their income (currently 60,000) be at that time, assuming it grows at the 3 percent rate? How much, then, will be the shortfall -- the difference between the two? 2. How much will be in the bond fund at retirement, assuming that it continues to earn 5 percent? 3. Herman has a very good location for his camera shop and can renew the lease indefinitely into the future. Suppose that its value increases by 10 percent annually over the next 30 years. How much will it then be worth? 4. Combine your answers to questions 2 and 3. The total represents an amount available to the Rohrbachs at the beginning of retirement. Now assume that they sell the camera shop and put the proceeds into the bond fund, and the fund continues to earn 5 percent during their retirement years. Are these annual earnings sufficiently high to meet the income shortfall determined in question 1? Your answer should be "no." Determine how much they must invest each year to accumulate a sufficient amount, which can also be deposited into a bond fund. Assume they earn 12 percent on these annual (end-of-year) investments. Thanks buz that's helped, but i still don't understand how to finish number four. I got all of the answers correct up until that point. Could anyone give extra help? Thanks a bunch!

As part of the nation's recovery from the Great Depression of the 1930s, the banking system was reformed in which of the following ways? * The government paid off loans for large corporations. * The Federal Reserve Banks were closed. * Banks were deregulated by the government. * The banking system was taken off the gold standard. 2. What is the difference between simple and compound interest? * Simple interest is paid as long as the money stays in the bank; compound interest is only paid for a year at a time. * Simple interest is paid once a year; compound interest is paid at least quarterly. * Simple interest is paid on the principal only; compound interest is paid on both principal and interest. * Simple and compound interest are two names for the same thing. 3. The money supply of a country is made up of which of the following? * only the M1 money available in an economy * only the M2 money available in an economy * all the money available in an economy * all the money available in an economy plus money that the country could borrow 4. What is a credit union? * a bank that takes deposits but does not make loans * a bank that specializes in retirement savings accounts * a modified type of savings and loan that makes loans for housing * a cooperative lending institution for a particular group

. As part of the nation's recovery from the Great Depression of the 1930s, the banking system was reformed in which of the following ways? * The government paid off loans for large corporations. * The Federal Reserve Banks were closed. * Banks were deregulated by the government. * The banking system was taken off the gold standard. 2. What is the difference between simple and compound interest? * Simple interest is paid as long as the money stays in the bank; compound interest is only paid for a year at a time. * Simple interest is paid once a year; compound interest is paid at least quarterly. * Simple interest is paid on the principal only; compound interest is paid on both principal and interest. * Simple and compound interest are two names for the same thing. 3. The money supply of a country is made up of which of the following? * only the M1 money available in an economy * only the M2 money available in an economy * all the money available in an economy * all the money available in an economy plus money that the country could borrow 4. What is a credit union? * a bank that takes deposits but does not make loans * a bank that specializes in retirement savings accounts * a modified type of savings and loan that makes loans for housing * a cooperative lending institution for a particular group

(COLA is cost of living adjustment it's a yearly raise for Social Security beneficiaries to account for inflation and expecting bills to go up for the new year as well.) This is the worst time of the economy to do this.....the bills in 2010 and 2011 will still go up but now their income won't. They claim that they make up with it with a one-time $250.00 payment in 2009 (2010 for some). How about suspending the COLA for members of Congress (who by the way vote yes every year to give themselves substantial raises in salary) or the COLA for federal employees who receive substantial salaries (I used to be a federal employee so I know they make good money)? Rather than the people who need it the most. If you oppose this, send a simple email to your Senators and Representatives or you can write a letter in more detail asking them to oppose the no cost of living adjustment for 2010-2011 for SSA recipients. Here is a template that will help if you need ideas or guidelines for your letter or email: http://www.ncpssm.org/pdf/cola_senate_20… and if you need assistance in locating the Representatives and Senators for your state and districts go to http://www.congress.gov. Please write to all your Reps and Senators despite their or your political affiliation. Please don't comment or answer if nothing like this has ever happened to you and all you want to do is complain about people on SSA or the system itself because no one cares. Speak from experience only if you have been on SSA or are currently on SSA. I don't want to hear from those who have no experience in dealing with SSA or have never had to use it. SSA is NOT a scam I used to work there, I know every detail how it works. The problem is there isn't enough money for the generation after the baby boomers. However this decision not to pay the COLA HAS NOTHING TO DO WITH THE SSA SYSTEM or its debt! They are trying to save money but instead could be taking the COLA from the rich congressmen and representatives or take the COLA from federal employees who make good money anyway. SSA was created to help the people not to hurt them. I wouldn't want to live in a country where we didn't take care of our sick, poor, or aged. This is mostly regarding the disabled which is unexpected. Most elderly did save for retirement but its not enough or recent invest scams or IRA that isn't worth anything due to economy plummeting. Get involved against taking the COLA from SSA and SSI recipients by emailing or writing your Representative or Senator with the info above. you can also email CREDO at info@credo action.com to ask them to get involved against taking the only raise from SSA beneficiaries when our bills will still go up. GET INVOLVED ESPECIALLY those who are on the program. This effects you so I hope you decide to get involved and do what you can to get this decision reversed!!!!! Focus on the issue of taking the only raise from SSA recipients. They are doing this to pay for health care reform and the national debt and they are not put it back in to the SSA system. That wouldn't even make a dent. Instead of talking about the SSA system itself, lets talk specifically about taking the COLA from the people who need it the most on SSA.

I feel like crap. Child support and child care are taking weekly money from my check. I don't have enough left over to live on my own. Can you believe I don't have enough left over to even rent a room? I am tired, angry and confused. My ex-wife, for reasons unknown, has decided to take my son from me. She's getting all my money and I don't see the child. How about that? I miss my son dearly. I don't want to fight my ex-wife in a courtroom. There is no reason for this behavior. It is very clear that she continues to live in the past. By the way, she divorced me and not the other way around. I did not seek a lawyer. She did what relatives and friends told her to do. It is very typical for divorced women to use kids as pawns to get back at men. I am no bad guy. I love my son. Why is she doing this to me? I have no idea. No one really knows why she is doing this. I have been searching for answers since the end of June 2009. I have no answers. All I know is that $106 are taken from my weekly check and there is nothing I can do to stop it. A lawyer would probably help but who can afford a lawyer? The court-appointed lawyers are selected wisely by the court system. Lawyers, in that system, are more concerned about women and the kids. Men are seen as trash. There's no place to hide. Lastly, I don't know what to do anymore. I work 32 hours each weekend at $11.50 per hour. After all tax deductions plus child support plus child care, I am left with nothing to live on. You may ask: why not get second job? The answer is simple. Any extra income must be reported to the child support collection unit. If I find work OFF THE BOOKS, then I am doing myself harm because nothing is being put away for my future and retirement. So, this leaves me no choice but to report any changes in income to the collection unit. Any money that I keep from them becomes arrears. Right now, I owe them about $250 in arrears. This means my new weekly deduction will increase to $159 per week until the arrears are paid in full. How do I know it will be $159? I recently received a summary account sheet from the collection unit revealing that an extra $53 will be deducted from my weekly check. So, $106 + $53 = $159 PER WEEK going to a person who does not let me see my son. What do you say, honestly? What would you do in my case? I am seeking for help from anyone who will take time to help me with some tips and/or advice. Thanks for reading.

I feel like crap. Child support and child care are taking weekly money from my check. I don't have enough left over to live on my own. Can you believe I don't have enough left over to even rent a room? I am tired, angry and confused. My ex-wife, for reasons unknown, has decided to take my son from me. She's getting all my money and I don't see the child. How about that? I miss my son dearly. I don't want to fight my ex-wife in a courtroom. There is no reason for this behavior. It is very clear that she continues to live in the past. By the way, she divorced me and not the other way around. I did not seek a lawyer. She did what relatives and friends told her to do. It is very typical for divorced women to use kids as pawns to get back at men. I am no bad guy. I love my son. Why is she doing this to me? I have no idea. No one really knows why she is doing this. I have been searching for answers since the end of June 2009. I have no answers. All I know is that $106 are taken from my weekly check and there is nothing I can do to stop it. A lawyer would probably help but who can afford a lawyer? The court-appointed lawyers are selected wisely by the court system. Lawyers, in that system, are more concerned about women and the kids. Men are seen as trash. There's no place to hide. Lastly, I don't know what to do anymore. I work 32 hours each weekend at $11.50 per hour. After all tax deductions plus child support plus child care, I am left with nothing to live on. You may ask: why not get second job? The answer is simple. Any extra income must be reported to the child support collection unit. If I find work OFF THE BOOKS, then I am doing myself harm because nothing is being put away for my future and retirement. So, this leaves me no choice but to report any changes in income to the collection unit. Any money that I keep from them becomes arrears. Right now, I owe them about $250 in arrears. This means my new weekly deduction will increase to $159 per week until the arrears are paid in full. How do I know it will be $159? I recently received a summary account sheet from the collection unit revealing that an extra $53 will be deducted from my weekly check. So, $106 + $53 = $159 PER WEEK going to a person who does not let me see my son. What do you say, honestly? What would you do in my case? I am seeking for help from anyone who will take time to help me with some tips and/or advice. Thanks for reading.

I feel like crap. Child support and child care are taking weekly money from my check. I don't have enough left over to live on my own. Can you believe I don't have enough left over to even rent a room? I am tired, angry and confused. My ex-wife, for reasons unknown, has decided to take my son from me. She's getting all my money and I don't see the child. How about that? I miss my son dearly. I don't want to fight my ex-wife in a courtroom. There is no reason for this behavior. It is very clear that she continues to live in the past. By the way, she divorced me and not the other way around. I did not seek a lawyer. She did what relatives and friends told her to do. It is very typical for divorced women to use kids as pawns to get back at men. I am no bad guy. I love my son. Why is she doing this to me? I have no idea. No one really knows why she is doing this. I have been searching for answers since the end of June 2009. I have no answers. All I know is that $106 are taken from my weekly check and there is nothing I can do to stop it. A lawyer would probably help but who can afford a lawyer? The court-appointed lawyers are selected wisely by the court system. Lawyers, in that system, are more concerned about women and the kids. Men are seen as trash. There's no place to hide. Lastly, I don't know what to do anymore. I work 32 hours each weekend at $11.50 per hour. After all tax deductions plus child support plus child care, I am left with nothing to live on. You may ask: why not get second job? The answer is simple. Any extra income must be reported to the child support collection unit. If I find work OFF THE BOOKS, then I am doing myself harm because nothing is being put away for my future and retirement. So, this leaves me no choice but to report any changes in income to the collection unit. Any money that I keep from them becomes arrears. Right now, I owe them about $250 in arrears. This means my new weekly deduction will increase to $159 per week until the arrears are paid in full. How do I know it will be $159? I recently received a summary account sheet from the collection unit revealing that an extra $53 will be deducted from my weekly check. So, $106 + $53 = $159 PER WEEK going to a person who does not let me see my son. What do you say, honestly? What would you do in my case? I am seeking for help from anyone who will take time to help me with some tips and/or advice. Thanks for reading.

Alan invests some of his retirement savings in a fund earning 6% simple interest and invests twice as much in a fund earning 9% simple interest. If he earns $480 combined interest on the accounts, how much does he have in the 6% account?

If most people are feeling the pinch who work , how much more can the average American absorb. The government has pushed us to the limit and now can not account for the last stimulus package and now all that we have done is increased the size and scope of government plain and simple, Unemployment is now increased and there are no signs of things improving. Cap and Trade will build a commodity for wall street and not do a thing to curb C02, All that it is meant to do is tax, plain and simple. Why do you people want a giant tax . You can not tax, borrow and print money to get out of debt. This Obama is a no nothing. If I have 10 dollars in my pocket and want a 20 dollar shirt and no job where do I get the 10 dollars? If I am the government I borrow it or just take it from someones purse even if I have no way to pay it back. Socialism is rearing its ugly head and his name is Obama. It is all at the expense of all of us. We print money and enact social legislation to force more expenses on business and people. People have had it. Bureaucrats keep getting more and more and give themselves great retirement and pay at our expense. Who should pay the extra cost in taxes for all of the programs. Regarding the punk who wants me to take economics , I have owned a business for 15 years what about you ? You are a punk who wants to take from others because you are a loser

Brandon invests some of his retirement savings in a fund earning 7% simple interest and invests twice as much in a fund earning 9% simple interest. If he earns $550 combined interest on the accounts, how much does he have in the 7% account?

Retirement Fund Investment. Jim Jacobs decided to invest $18,000 of his retirement fund conservatively. He invested part of this money in a certificate of deposit that pays 3.5% simple interest and part in a fixed interest account that pays 2.2% simple interest. Last year he earned $552 in interest? How much did he invest in each type of account?

Mr. Bloop deposited 13% of his monthly pay in a fixed-rate retirement account. The account pays 3.5% simple interest each year. How much money will he have in the account after two years if his monthly salary is $2,900? If a person cuts a 5 inch long piece of paper into 1/5 inch segments and also cuts a 7 cm long piece of paper into 1 mm segments, what will be the difference in the number of cuts made to each piece of paper? Maryville Elementary School orders milk in the ratio of 2 pints of chocolate to 3 pints of plain. Each day just enough milk is ordered for each child to have 1 pint. On Monday 350 students were present. How many pints of each kind of milk were ordered? Taylor built a model castle using air-drying modeling clay. To make the structure more interesting she first molded the clay into small bricks and then stacked and glued the bricks together to make a very realistic looking structure. Each packet of clay contained 4 cubic inches of clay. The tiny bricks were 1/8-inch cubes. If her castle used 1,695 bricks, how many packets of clay did she use?

26. When your credit score is poor, your mortgage interest rate will be: (1 point) Higher Lower 27. A revolving credit account where the cardholder must pay the full account balance each month is called what? (1 point) a charge card a debit card a credit card a gift card 28. In a list of numbers placed in numerical order, the middle number is called what? (1 point) the average the median the difference the total 29. A FREE warranty from an automobile manufacturer that covers any and all mechanical problems for a specified period from the purchase date is generally called what? (1 point) Supplemental insurance Bumper-to-Bumper warranty Manufacturers extended warranty Sellers guarantee 30. A short-term financial goal is achieved within what time period? (1 point) 10-25 years 1-12 months 1-5 years 30 years 31. Either party involved in a contract can change typed passages by writing the changes on the document and then having both parties initial next to the change. (1 point) True False 32. If your credit score is low, or you don’t have established credit, a person that does have good or established credit will have to what? (1 point) co-sign on the debt assign the debt guarantee the debt A and C 33. What is the most important part of a contract to read? (1 point) The bold passages The fine print The period of performance The payment schedule 34. All charge card and credit card companies must send you a copy of the terms of your cardholder agreement if you request it in writing. (1 point) True False 35. When paying for medical care, the portion of the total cost you pay out-of-pocket for prescriptions and/or doctor visits (after insurance) are called medical: (1 point) Supplements Co-pays Premiums Deductibles 36. Supplemental insurance policies can pay you regular income for: (1 point) Long-term disabilities Injury disabilities Cancer treatment All of the above 37. The reduction of value of an asset (something of value) over time due to normal usage is called what? (1 point) Depreciation Appreciation Decay Inflation 38. What are considerations to think about when planning for retirement? (1 point) Time to retirement Planned quality of life Current savings All of the above 39. Experian, TransUnion, and Equifax are all involved in collecting information that results in a report of your: (1 point) Income Debt to Income Ratio Credit Score Interest Rate 40. The retail price of a brand-new automobile is also known as? (1 point) The wholesale value The sticker price The Kelly Blue Book price The dealer price 41. When you're retired or disabled, what government institution pays your regular monthly income based upon contributions you made while working? (1 point) The Social Security Administration Medicare Medicaid Elderly Assistance Institute 42. When you have a fixed amount of income each month, with no expectation of an increase or decrease in the amount you receive you're living on a what? (1 point) Variable income Fixed income Poverty line Low-income subsidy 43. The amount of goods and services you can buy with your money is referred to as what? (1 point) Inflationary spending Bartering Purchasing power The exchange rate 44. The simplest form of a loan contract between two individuals is called what? (1 point) Exchange agreement I.O.U. Borrowing agreement Lending agreement 45. If your down-payment on a home is GREATER than 20% of the total value, you'll generally have to purchase Personal Mortage Insurance. (1 point) True False 46. The metaphor for your main income sources during retirement is what? (1 point) The four-legged dog The three-legged stool The three-pronged attack The four-legged stool 47. Mortage loans have lower interest rates (and lower risk to lenders) than automobile loans, why? (1 point) The bank will always know where to find a house Automobile loans have smaller loan amounts Automobiles can be hidden from repossession A and C 48. The payment schedule on a mortage is created using what? (1 point) An amortization table A balance-due spreadsheet An equity schedule A principal repayment plan 49. If you're living "beyond your means" it's likely you'll eventually go bankrupt. (1 point) True False 50. The type of card that is linked to your checking account and doesn't accrue interest is called what? (1 point) a charge card a credit card a debit card a revolving card

I want to invest money for retirement but im not sure how an IRA or roth IRA account works. Do you have to invest in something with risk or is there no risk? How do the bonds and money market and all those types of accounts work that you have to pick to invest in. It seems simple but i just don't really understand that well thanks for the help.

1) Kelli Rae's inheritence from her great-grandmother was $220,000 after taxes. If Kelli Rae invests this money in a savings account that earns $18,260 in simple interest every year, what is the interest rate on her account? 2) Mr. Pham has $410,000 in a retirement account that earns 3.85% simple interest each year. Find the amount earned each year by this investement. SO....7th grade math is awful. im not exactly asking for the answers straight out, im asking for u to explain it and maybe give me a formula. I need this by 7:00pm-7:30pm in maryland time (3 hours ahead of California)

I have a really bad problem. I used to have very bad ocd. I would pull my eyebrows out.For the longest time I had very few eyebrows. Well I worked very hard and forced myself to leave them alone. When they grew back the hairs did not grow in their normal pattern. It is hard to explain what I really mean so here is an example. Look at the after pics, not before pics. http://www.foundhair.com/photoGallery/EyeBrowEyelash_5_13.asp If I don't trim them, the hairs get super weird. Some get really long. I trim mine every week to try to salvage any decency. This is really eating at me as it is holding me back from talking to girls I like and even trying to make friends. I made a mistake in my life, I am not in denial of that but the fact that this problem I had will effect the REST of my life really hurts me. Most mistakes can be corrected but this just cannot. I am trying to distract myself with my studies. I am an accounting student at one of the best undegrad accounting programs in the country. This is even holding me back from trying to get internships and mentorships. All I do is lock myself up and study all day and go to classes in which I keep my mouth shut and avoid any sort of interaction.This just isn't fair a simple mistake I have made should not have this kind of reprecussion. I am only 20 years old and I feel like a 90 year old depressed man in a retirement home.

Have to do a 100 economic problems!Need help with some please!As much info as possible is really appreciated!? (Find all dollar amounts correct to the nearest cent. When an interest rate is requested as an answer, express the rate as a percentage, correct to two decimals) 1. If you borrow $3,000 at 14% simple interest for 10months, how much will you owe in 10months? How much interest will you pay? 2. Grandparents deposited $6,000 into a grandchild's account toward a college education. How much money (to the nearest dollar) will be in the account 17years from now if the account earns 7% compounded monthly? 3. A $10,000 retirement account is left to earn interest at 7% compunded daily How much money will be in the account 40years from now when the owner reaches 65? (use a 365 day year and round answer to thenearest dollar.) 4. What is the value of an ordinary annuity at the end of 8years if $400 per month is deposited into an account earning 7.2% compounded monthly? How much of this value is interest? 5. A loan of $2,500 was repaid at the end of 10months with a check for $2,812.50. What annual rate of interest was charged? 6. You have $2,500 toward the purchase of a boat that will cost $3,000. How long will it take the $2,500 to grow into $3,000 if it is invested at 9% compounded quarterly? (round up to the next higher quarter if not exact.) 7. If you borrow $4,000 from an online lending firm for the purchase of a computer and agree to repay it in 48 equal installments at 0.9% interest per month on the unpaid balance, how much are your monthly payments? How much total interest will be paid? 8. A company decides to establish a sinking fund to replace a piece of equipment in 6yrs at an estimated cost of $50,000. To accomplish this, they decide to make fixed monthly payments into an account that pays 6.12%compounded monthly. How much should each payment be? 9. A business borrows $80,000 at 9.42% interest compounded monthly for 8years. (A) What is the monthly payment? (B) What is the unpaid balance at the end of the first year? (C) How much interest was paid during the first year? THANK YOU SO MUCH FOR ANY HELP YOU CAN PROVIDE! :)

Herman and Grace Rohrbach are in their mid thirties. They are reasonably well off financially insofar as Grace's mother has established a trust fund to educate their two children, Barbara and Frances. The Rohrbachs lead rather simple lives and have no desires for lavish spending. However, they do face one major financial challenge: how to have sufficient resources in their retirement years. Herman owns his own camera shop and Grace has no employment income, although she often works in Herman's store. The Rohrbachs have accumulated around $50,000 in savings, which is invested in a bond mutual fund, currently earning 5 percent after taxes. They have no other savings programs, either personal or through business. If Herman retired today, his only income would be Social Security, which he estimates to be $18,000 annually. He would sell the business immediately prior to retirement. He has no idea what it will be worth then, but he believes he could get $100,000 for it today. To live a comfortable retirement, the Rohrbachs think they need an income comparable to their current one, which is $60,000 after income taxes. The Rohrbachs clearly need help to determine if they need to increase their annual savings to meet their retirement goal. Finally, the Rohrbachs will live off Social Security and interest from accumulated savings available at retirement. They will not touch any principal in their savings accounts, preferring instead to leave that money to their children. Retirement is planned in 30 years. 1. Social Security is indexed to inflation. If the inflation rate is 3 percent over the next 30 years, how much Social Security income will the Rohrbachs receive? How much will their income (currently $60,000) be at that time, assuming it grows at the 3 percent rate? How much, then, will be the shortfall - the difference between the two? 2. How much will be in the bond at retirement, assuming that it continues to earn 5 percent? 3. Herman has a very good location for his camera shop and can renew the lease indefinitely into the future. Suppose that its value increases by 10 percent annually over the next 30 years. How much will it then be worth? 4. Combine your answers to Questions 2 and 3. The total represents an amount available to the Rohrbachs at the beginning of retirement. Now assume that they sell the camera shop and put the proceeds into the bond fund, and the fund continues to earn 5 percent during their retirement years. Are these annual earnings sufficiently high to meet the income shortfall determined in Question 1? Your answer should be "no." Determine how much they must invest each year to accumulate a sufficient amount, which can also be deposited into a bond fund. Assume they earn 12 percent on these annual (end of year) investments.

Is it fair to say that if we get government out of things and let the market work itself out that there would be more job loss for a bit but in the end we would be a stronger nation?? and is the below a fair assesment? Did I miss anything Is this a very, very, very simple explanation of the conservative way? 1.cut government spending. If you want a compromise that would be it – leave taxes alone don’t cut them fine but cut government spending by 10% and well the road to recovery will begin. 2.communities take care of their own, it is local and state governments place not the Federal governments job. If we each loved our neighbor like our selves then it would not matter and the year or so it would take to let the market work itself out would be a blessing as brother grabber hold of brother and we came together as one people for one cause and just loved on each other as it should be. And that is the conservative way! We are our brothers keeper – •Foreclosing homes – fire all those who were involved with Fannie/Freddie – repeal the Clinton administrations mandates on government backed loans and high risk loans. The program was a good one till it got out of control and used as a political play and banks no longer had to account for risk factor and geed from main street to wall street came into play •Bailout money to banks – They shouldn’t get it – I would support bail out monies for pensions and retirement funds that would be effected though – pay off those citizens who would lose by the closing of these banks Survival of the fittest not the richest •Car industries – Ease restrictions, the ecological restrictions imposed on the industry has crippled it. Get government out of the business (to an extent – of coarse some of the restrictions are valid but 60% of them are just appeasements). Let the people dictate what they want to buy, We do a good job at regulating the market. If people start buying more cars that are hybrids they will make them and make them better and better. It is the American way. What we demand the market follows it is not the other way around nor Is it a government mandate to say what we the people like and want. Don’t just always go around giving a homeless person their own shopping cart and then spout your compassionate – Give a hand up and give hope to the hopeless not just a welfare check See the Rosad to recovery is change and it starts in the mind Uhhh jehen your not correct – Defense is one of the main jobs of the fed – oh NM I am not going to go on- you are obviously too sheep like to care about facts well some people who get assistance do work - just dont make enough to make ends meat so get some assitnace till things pan out I am not for tax incentives for those who buy american - that is like praising a guy who say I take care of my baby- ya know YEAH and you should

My parents are retired and have no income (they have savings accounts)...do they need to pay tax in India ? They have a house (passed down from my fathers father)...and they live there. Do not have much expense since they seem to have a very simple life style. When they do need money, they use their savings. They have not paid taxes since 2003 (when they retired)...is this a fraud ? They do not get any retirement pension or anything like that...they just have been saving their whole lives and have savings accounts.

Credit: 710-Mine 750-His NO negatives Income: $51,000 My fiancé works for a delivery company and in May he will have worked there for 1 year. I would say in the next 6-9 months he plans on buying his own delivery truck and becoming part owner on the company. Before he worked for a Sports Retail Store for 3 years. I work for a construction company and in May I also will have been with the same company for 1 year. I am an hourly employee. I finished school for Accounting and my current position is Accounts Receivable Billing. My prior position was an accounting assistant with another construction company where I worked for 1 year. Debt: $259.00 Monthly lease for a car. $100.00 a month that I contribute to a Simple IRA for retirement. My employer also contributes a certain percentage. (not sure if the IRA counts as debt) Total Cash Asset: 15,000.00 Credit History: His: Owns a 2006 Dodge Ram- paid off. Owns a 2006 ATV –paid off Wells Fargo Credit card $2500 limit-zero balance Macy’s Credit Car (not sure what the limit is) –Zero balance Polaris Off-Road company $6000 limit-zero balance Mine: Nissan auto lease-$259.00 Monthly Bank of America Credit card $7000 limit-zero balance Mervyns Credit card $600 limit-zero balance (I don’t if they count since they went out of business) We don’t plan on buying till 8 months from now…some time around September-October. With house prices being low and interest rates being low we would really like to take advantage of it. Instead of moving out and renting why not buy?We are more then willing to buy a condo but would really like a 2 bedroom fixer upper kind of house. 8 Months from now we hope to have an extra $15,000 for down payment which will then make our total cash available for down payment $30,000.00 Area: Los Angeles CA

Credit: 710-Mine 750-His NO negatives Income: $51,000 My fiancé works for a delivery company and in May he will have worked there for 1 year. He is a 10 99’d employee. I would say in the next 6-9 months he plans on buying his own delivery truck and becoming part owner on the company. Before he worked for a Sports Retail Store for 3 years. I work for a construction company and in May I also will have been with the same company for 1 year. I am an hourly employee. I finished school for Accounting and my current position is Accounts Receivable Billing. My prior position was an accounting assistant with another construction company where I worked for 1 year. Debt: $259.00 Monthly lease for a car. $100.00 a month that I contribute to a Simple IRA for retirement. My employer also contributes a certain percentage. (not sure if the IRA counts as debt) Total Cash Asset: 15,000.00 Credit History: His: Owns a 2006 Dodge Ram- paid off. Owns a 2006 ATV –paid off Wells Fargo Credit card $2500 limit-zero balance Macy’s Credit Car (not sure what the limit is) –Zero balance Polaris Off-Road company $6000 limit-zero balance Mine: Nissan auto lease-$259.00 Monthly Bank of America Credit card $7000 limit-zero balance Mervyns Credit card $600 limit-zero balance (I don’t if they count since they went out of business) We don’t plan on buying till 8 months from now…some time around September-October. With house prices being low and interest rates being low we would really like to take advantage of it. Instead of moving out and renting why not buy?We are more then willing to buy a condo but would really like a 2 bedroom fixer upper kind of house. 8 Months from now we hope to have an extra $15,000 for down payment which will then make our total cash available for down payment $30,000.00 Area: Los Angeles CA

Credit: 710-Mine 750-His NO negatives Income: $51,000 My fiancé works for a delivery company and in May he will have worked there for 1 year. He is a 10 99’d employee. I would say in the next 6-9 months he plans on buying his own delivery truck and becoming part owner on the company. Before he worked for a Sports Retail Store for 3 years. I work for a construction company and in May I also will have been with the same company for 1 year. I am an hourly employee. I finished school for Accounting and my current position is Accounts Receivable Billing. My prior position was an accounting assistant with another construction company where I worked for 1 year. Debt: $259.00 Monthly lease for a car. $100.00 a month that I contribute to a Simple IRA for retirement. My employer also contributes a certain percentage. (not sure if the IRA counts as debt) Total Cash Asset: 15,000.00 Credit History: His: Owns a 2006 Dodge Ram- paid off. Owns a 2006 ATV –paid off Wells Fargo Credit card $2500 limit-zero balance Macy’s Credit Car (not sure what the limit is) –Zero balance Polaris Off-Road company $6000 limit-zero balance Mine: Nissan auto lease-$259.00 Monthly Bank of America Credit card $7000 limit-zero balance Mervyns Credit card $600 limit-zero balance (I don’t if they count since they went out of business) We don’t plan on buying till 8 months from now…some time around September-October. With house prices being low and interest rates being low we would really like to take advantage of it. Instead of moving out and renting why not buy?We are more then willing to buy a condo but would really like a 2 bedroom fixer upper kind of house. 8 Months from now we hope to have an extra $15,000 for down payment which will then make our total cash available for down payment $30,000.00 Area: Los Angeles CA

Credit: 710-Mine 750-His NO negatives Income: $51,000 My fiancé works for a delivery company and in May he will have worked there for 1 year. He is a 10 99’d employee. I would say in the next 6-9 months he plans on buying his own delivery truck and becoming part owner on the company. Before he worked for a Sports Retail Store for 3 years. I work for a construction company and in May I also will have been with the same company for 1 year. I am an hourly employee. I finished school for Accounting and my current position is Accounts Receivable Billing. My prior position was an accounting assistant with another construction company where I worked for 1 year. Debt: $259.00 Monthly lease for a car. $100.00 a month that I contribute to a Simple IRA for retirement. My employer also contributes a certain percentage. (not sure if the IRA counts as debt) Total Cash Asset: 15,000.00 Credit History: His: Owns a 2006 Dodge Ram- paid off. Owns a 2006 ATV –paid off Wells Fargo Credit card $2500 limit-zero balance Macy’s Credit Car (not sure what the limit is) –Zero balance Polaris Off-Road company $6000 limit-zero balance Mine: Nissan auto lease-$259.00 Monthly Bank of America Credit card $7000 limit-zero balance Mervyns Credit card $600 limit-zero balance (I don’t if they count since they went out of business) We don’t plan on buying till 8 months from now…some time around September-October. With house prices being low and interest rates being low we would really like to take advantage of it. Instead of moving out and renting why not buy? We are more then willing to buy a condo but would really like a 2 bedroom fixer upper kind of house. 8 Months from now we hope to have an extra $15,000 for down payment which will then make our total cash available for down payment $30,000.00 Area: Los Angeles CA Downside….In 8 months from now I will only be 21 years old and he will be 23. I’m worried we are looked at as a risk for being young. Thank you so much in advance for all your advice. This tax season he will have a 10'99 and a W-2...3 months ago he started getting taxes taken out of his paycheck.

My plan is simple: establish individual account similar to IRA for everyone who has Social Security. Deposit T-bonds into such account based on expected lifetime payouts less expected contributions, adjusted for 5% interest rate. It will be just a transfer of balance of Social Security administration to individual participants. Since everyone will take a significant hit in value (because it would be effectively liquidation of bankrupt Ponzi scheme) throw in extra. Which extra? The $350 billion in preferred stock of banks obtained through TARP. Since nobody would agree to sit on worthless T-bonds earning 2% as of now, the owners of the accounts will reinvest $5 trillion in real American economy. And once everyone begins to depend on the profits earned by American companies for retirement, there will be no stupid carbon taxes, no more union protection laws, and in general no Democratic party. It will be Libertarian vs GOP. Ron Paul vs John McCain, no community organizers. Why stupid Bush failed to do this, is beyond me,

2) The ratio of the length of a side of one square is 3:4. A side off the smallest square is 9 cm. Find the length of a side of the larger square. 3) You invest $500 for three years and receive $60 in simple interest. What is the annual interest rate? Use the formula for simple interest l=p*r*t, where l is the interest, p is the principal, r is the annual interest rate and t is the time in years. 3) Suppose a person contributes 6% of her salary to her retirement account. She works 20 hours per at $6.50 per hour. Find her weekly contribution. Calculate the percent of change If necessary round to the nearest tenth. 4) $4.50/h to $5/h 5) 60 km/h to 45 km/h 6) 150 lb to 135 lb 7) $18 to $24 8) A random survey of 60 students showed that 36 students use calculators for computation. What is the probability that a student chosen at random used a calculator for computation? 9) A softball player made a hit 34 times in the last 170 times at bat. Find the probability that the softball player would get a hit the next time at bat. 10) 14 cent/oz = $_ /lb 11) 7 gal/wk = _ qt/h 12) 35 mi/h = _ft/min 13) 120 ft/day = _ in./min 3) You invest $500 for three ye

The simple question: what is the best retirement account(s) for me? My family owns a business and I am now a part owner. Because of the legal type of our business, and because some expenses are run through my salary, it is artificially inflated which prevents me from contributing to a Roth IRA and does not allow tax deductions for the traditional IRA. I already contribute to my company's matched 401k; however, my contribution is limited to less than half of what I would like to be saving. So what do I do with that other half? I’m in my mid-late twenties. I’m soon to be married and we have one infant. Thanks for the answer, the problem I have is that I do have a limted budget that is afforeded by my "normal" salary. Our bank requires that we have a massive amount of insurance and most of the premiums run through my taxable wages (which then inflates the premimum amount by about 50%). I don't make enough money to move into some of the "bigger investments" offered by banks and other investment companys. By the way, my "normal" salary is well under the threshold limit for Roth IRA's and other tax-free investments.

Britons have worst state pension in EUBy SEAN POULTER Last updated at 22:08 12 November 2007 ( Daily Mail ) Millions of Britons are being condemned to poverty in old age by the worst state pension in the EU, a study shows. The basic state pension of £90 a week is equivalent to just 16 per cent of the average wage, it found. This figure rises to 30 per cent once pension payments related to earnings are taken into account. But this is still only half the EU average of 60 per cent, the financial firm Aon Consulting said. Its study concluded: "The inadequacy of the state system is beyond question." Charities including Help the Aged warn the problem has been made worse because the state pension has failed to keep pace with increases in the cost of essentials such as heating, water, and council tax. A recent study found a quarter of pensioners are having to cut back on basics to survive. Until recently many British workers could rely on private pensions such as final salary schemes. However, many of the most generous schemes have been replaced by deals requiring higher monthly payments in return for a smaller pension. In addition, the study said a "spate" of banking scandals and crises had damaged confidence in the private pension system. As a result, Britons are not investing in private pensions on the scale needed to make up for the state system's failings. The average age of retirement in Britain - 62.6 - is also above the EU average of 61. Some 57 per cent of Britons aged between 55 and 64 are in paid employment. Aon found the value of Britain's state pension for a single person is 30.8 per cent of the average wage. This figure is 32.5 per cent in Ireland, 39.9 per cent in Germany and 51.2 per cent in France. The most generous state pension is offered by Greece, where the figure is 95.7 per cent. Aon said Britain's ageing population is reliant on young immigrants to boost the number of workers, generating taxes to fund pensions. But it stressed this was not a longterm solution to the pensions crisis. The firm's chief actuary, Donald Duval, said: "Migrant workers have helped boost the pension pot in the UK to mitigate against its demomeal-graphic problems but this is not a sustainable measure. It is a smokescreen hiding deeper issues facing the pension system. "More needs to be done to restore confidence in private schemes so as to drive an increased level of contributions. People cannot afford to rely on the state pension, which remains the lowest in Europe. "The 2005 Turner Report on the future of pensions concluded that the ageing population left the UK with four choices: lower pensions, higher retirement ages, higher member contributions or higher taxes. "Assuming that the first is unacceptable, some combination of the latter three needs to be encouraged." A spokesman for Help the Aged said: "Pensioners are resorting to strategies such as buying cut-price food that is nearly out of date. "Increasingly the poorest pensioners are turning to friends and family to help them out. "Debt agencies are also reporting an increase in the number of older people who have borrowed money they can't repay. "Simple things like going out for a meal or inviting people to your home become impossible. Holidays are completely out of the question, while people have to cut back on hobbies and social events." The Government plans to restore a link between rises in earnings and rises in the basic pension by 2012. However, this will be part of a package that will also raise the retirement age from 65 in 2024 to 68 by 2050. Read more... One million pensioners eating less to pay heating bills The Government should ignore some of the money pensioners receive from private schemes to encourage more Britons to save towards their retirement, a report suggests. The Pensions Policy Institute said many are afraid to invest in private schemes because they would lose means-tested state benefits. The research charity suggested the Government should therefore disregard the first £12 a week someone receives from a private pension when calculating their state benefits. This would allow someone to have a pension fund worth £6,000 before it affected their means-tested benefits.

Someone Please answer and show work if you can. It will help me learn this stuff better. 1.) Christopher Duncan invested a portion of $16,000 in a money-market account earning 9% annual simple interest and the remainder in a retirement account at 10% annual simple interest. The two investments earn $1500 in interest annually. How much was invested in each account? 2.) Ten cups of a restaurant's house italian dressing is made up by blending olive oil costing $1.80 per cup with vinegar that costs $0.40 per cup. How many cups of oil are used if the cost of the blend is $1.10 per cup?

Alan invests some of his retirement savings in a fund earning 4% simple interest and invests twice as much in a fund earning 6% simple interest. If he earns $304 combined interest on the accounts, how much does he have in the 4% account?

Alan invests some of his retirement savings in a fund earning 6% simple interest and invests twice as much in a fund earning 9% simple interest. If he earns $480 combined interest on the accounts, how much does he have in the 6% account

I would like to contribute to an IRA, a 401k, a 403b, a SEP plan, a SIMPLE plan, and a Keogh plan, through multiple businesses and employments. So I would like to know what is the maximum contribution using the combination of all of these accounts that I can make per year and which accounts are additive. Thank you.

I am asking the same question yet again because I an honestly looking for more feedback. I have received some that I like, but so much is based on emotions and not facts. How about some facts! I do not like the idea of giving a hand out to anyone. but lets face facts-there is going to be some type of program passed-congress just can't pass it up. They LOVE doing this stuff! If I have to have a bill forced on me, this is the idea I like best so far. On the Dave Ramsey website I found this plan. In a way it sounds very good. Maybe too good? I actually like it so far, Can you take a look at it and tell me what you see that is wrong? Could it really be this simple? Or this cheap? Here it the text of the plan. I will list the link below. The Common Sense Fix Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following threestep Common Sense Plan. I. INSURANCE a. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity. b. In order for a company to accept the government-backed insurance, they must do two things: 1. Rewrite any mortgage that is more than three months delinquent to a 6% fixed-rate mortgage. a. Roll all back payments with no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes. b. Cancel all prepayment penalties to encourage refinancing or the sale of the property to pay off the bad loan. In the event of foreclosure or short sale, the borrower will not be held liable for any deficit balance. FHA does this now, and that encourages mortgage companies to go the extra mile while working with the borrower—again limiting foreclosures and ruined lives. 2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and executive team members as long as the company holds these government-insured bonds/mortgages. This keeps underperforming executives from being paid when they don’t do their jobs. c. This backstop will cost less than $50 billion—a small fraction of the current proposal. II. MARK TO MARKET a. Remove mark to market accounting rules for two years on only subprime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate. b. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks—and it costs the taxpayer nothing. III. CAPITAL GAINS TAX a. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous—and immediate—liquidity in the markets. Again, this costs the taxpayer nothing. b. This move will be seen as a lightning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down. This is not a time for envy, and it’s not a time for politics. It’s time for all of us, as Americans, to stand up, speak out, and fix this mess. So what do you think? Oops-I forgot the link! Look under Common Sense Fix: http://www.daveramsey.com/etc/fed_bailout/index.html

On the Dave Ramsey website I found this plan. In a way it sounds very good. Maybe too good. I actually like it so far, Can you take a look at it and tell me what you see that is wrong? Could ti really be this simple? Or this cheap? Here it the text of the plan. I will list the link below. The Common Sense Fix Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following threestep Common Sense Plan. I. INSURANCE a. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity. b. In order for a company to accept the government-backed insurance, they must do two things: 1. Rewrite any mortgage that is more than three months delinquent to a 6% fixed-rate mortgage. a. Roll all back payments with no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes. b. Cancel all prepayment penalties to encourage refinancing or the sale of the property to pay off the bad loan. In the event of foreclosure or short sale, the borrower will not be held liable for any deficit balance. FHA does this now, and that encourages mortgage companies to go the extra mile while working with the borrower—again limiting foreclosures and ruined lives. 2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and executive team members as long as the company holds these government-insured bonds/mortgages. This keeps underperforming executives from being paid when they don’t do their jobs. c. This backstop will cost less than $50 billion—a small fraction of the current proposal. II. MARK TO MARKET a. Remove mark to market accounting rules for two years on only subprime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate. b. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks—and it costs the taxpayer nothing. III. CAPITAL GAINS TAX a. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous—and immediate—liquidity in the markets. Again, this costs the taxpayer nothing. b. This move will be seen as a lightning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down. This is not a time for envy, and it’s not a time for politics. It’s time for all of us, as Americans, to stand up, speak out, and fix this mess. So whatbdo you think?

This is what I wrote to my Senator Dear Senator I'm screaming!!! Can you hear me??? Do not jump on board with Bush... it is imperative that you put the burden on the rich. Use the idea of a surtax on stock transactions and the taxing of capitol gains dividends. Tax them!!! Let those that dabble in Wall Street pay for Wall Street. Couple that with regulation and over site and don’t ever take your eye off the ball again. Likewise, if failure to fulfill their fiduciary responsibilities does occur then CEO’s need to go to prison and have their accounts confiscated. This is nuts that you would dump on us again... stop this madness. People need health care in this country and this is Norquist’s plan to tie us up in knots with no moneys for the poor and middle class while they walk away with the check book. I retired from United Airlines and WE watched them walk away with my money while they claimed bankruptcy on my retirement. For 12 years I was an employee owner and they were the highest in UAL's History and yet they failed to fund the retirement. The government over site or the PBGC took its eye off the ball and didn’t require the Corporation to fully fund the retirement… don't do it again. Stop this crap! There is no rush, Dodd and Pelosi don't have to do this... Sorry, but I'd rather go into a recession and work our way out rather than give the rich one more dime. Take the same money and put people to work and they will pay their mortgages... and our infrastructure will be rebuilt OR take the bad loans and renegotiate them in two, a 1st and a 2nd mortgage, leaving the owner with a payment and interest rate that fits their income and the rest to be put on a FEMA type loan at 3 percent simple interest with no payments for 30 years or until the property is sold Let’s get creative to keep people in place and the economy moving. I work for a company that writes rehab loans using city money @ 30 years no payments, 3 percent simple interest. Our max is $35,000 but that can be upped if need be. As long as the home owner is able and there is some equity there, however small… Lets keep the ball rolling till they die or sell. Then all their un-assumable loans are paid off. Everybody wins while we tighten up regulation on Wall Street.

2008 PRESIDENTIAL ELECTION JOHN McCain BARAK OBAMA The questions below are listed in McCain's and Obama web sites and other sites that was approved by both. The list of questions will have a yes or no or another anwer particilar to that question. Both candidates answered the question and they are listed. To keep it simple the first answer is McCain's the second answer is Obama. Then ask yourself the same questions and if their answer is how you would answer then vote for that candidate. Please know the issues and not because they are cute, black, good speaker, or because your momma and daddy like them or even your best friend… Get a group of people over tonight. Ask these questions to each one…then grade their answer too. Don't listen exclusively to Fox or CNN or people with the loudest voice. Know the candidate you are supporting... here is how!. Take a sheet of paper and write down ( or copy and paste) the following questions. If you don’t know what the question means ASK SOMEONE or if the question does not affect you, (it may in the future)… then ask yourself who would it affect – then go ask them that question? Then vote the candidate. Favors new drilling offshore US Yes No Will appoint judges who interpret the law not make it Yes No Served in the US Armed Forces Yes No Amount of time served in the US Senate 22 YEARS 173 DAYS Will institute a socialized national health care plan No Yes Supports abortion throughout the pregnancy No Yes Would pull troops out of Iraq immediately No Yes Supports gun ownership rights Yes No Supports homosexual marriage No Yes Proposed programs will mean a huge tax increase No Yes Voted against making English the official language No Yes Voted to give Social Security benefits to illegal’s No Yes CAPITAL GAINS TAX MCCAIN 0% on home sales up to $500,000 per home (couples). McCain does not propose any change in existing home sales income tax. OBAMA 28% on profit from ALL home sales. (How does this affect you? If you sell your home and make a profit, you will pay 28% of your gain on taxes. If you are heading toward retirement and would like to down-size your home or move into a retirement community, 28% of the money you make from your home will go to taxes. This proposal will adversely affect the elderly who are counting on the income from their homes as part of their retirement income.) DIVIDEND TAX MCCAIN 15% (no change) OBAMA 39.6% - (How will this affect you? If you have any money invested in stock market, IRA, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends, you will now be paying nearly 40% of the money earned on taxes if Obama becomes president. The experts predict that 'Higher tax rates on dividends and capital gains would crash the stock market, yet do absolutely nothing to cut the deficit.') INCOME TAX MCCAIN (no changes) Single making 30K - tax $4,500 Single making 50K - tax $12,500 Single making 75K - tax $18,750 Married making 60K- tax $9,000 Married making 75K - tax $18,750 Married making 125K - tax $31,250 OBAMA (reversion to pre-Bush tax cuts) Single making 30K - tax $8,400 Single making 50K - tax $14,000 Single making 75K - tax $23,250 Married making 60K - tax $16,800 Married making 75K - tax $21,000 Married making 125K - tax $38,750 Under Obama, your taxes could almost double! INHERITANCE TAX MCCAIN - 0% (No change, Bush repealed this tax) OBAMA Restore the inheritance tax Many families have lost businesses, farms, ranches, and homes that have been in their families for generations because they could not afford the inheritance tax. Those willing their assets to loved ones will only lose them to these taxes. NEW TAXES PROPOSED BY OBAMA New government taxes proposed on homes that are more than 2400 square feet. New gasoline taxes (as if gas weren't high enough already) New taxes on natural resources consumption (heating gas, water, electricity) New taxes on retirement accounts, and last but not least....New taxes to pay for socialized medicine so we can receive the same level of medical care as other third-world countries!!! You can verify the above at the following web sites: http://money.cnn.com/news/specials/election/2008/index.html http://www.cnn.com/ELECTION/2008/issues/issues.taxes.html http://elections.foxnews.com/?s=proposed+taxes http://bulletin.aarp.org/yourworld/politics/articles/mccain_obama_offer_different_visions_on_taxes.html http://blog.washingtonpost.com/fact-checker/candidates/barack_obama/ http://blog.washingtonpost.com/fact-checker/candidates/john_mccain/ I am not bias as anyone suspects. If you think I am then read the canidates web site... they answered it. And yes I am for one of the above candidates, but that is for you to choose. But if you don't care and vote only because someone said they like a candidate then USE YOUR BRIAN!... DON'T LET SOMEONE ELSE THINK FOR YOU!.. EVEN IF YOU DON'T LIKE THE ABOVE QUESTION

Now why you would vote for an idiotic Democrate like this i just dont know! This might be the single best comparison I've seen on McCain and Obama. It's worth looking at this information and passing on so others can see the differences. Read this completely, because the tax differences between the two are significant. SIMPLE MATH: 2008 PRESIDENTIAL CANDIDATE COMPARISON TALKING POINTS ISSUE JOHN McCAIN BARAK OBAMA Favors new = drilling offshore US Yes No Will appoint judges who = interpret the law not make it Yes No Served in the US Armed Forces Yes No Amount of time served in the US Senate 22 YEARS 173 DAYS Will institute a socialized national health care plan No Yes Supports abortion throughout the pregnancy No Yes Would pull troops out of Iraq immediately No Yes Supports gun ownership rights Yes No Supports homosexual marriage No Yes Proposed programs will mean a huge tax increase No Yes Voted against making English the official language No Yes Voted to give Social Security benefits to illegals No Yes CAPITAL GAINS TAX MCCAIN 0% on home sales up to $500,000 per home (couples). McCain does not propose any change in existing home sales income tax. OBAMA 28% on profit from ALL home sales. (How does this affect you? If you sell your home and make a profit, you will pay 28% of your gain on taxes. of you are heading toward retirement and would like to down-size your home or move into a retirement community, 28% of the money you make from your home will go to taxes. This proposal will adversely affect the elderly who are counting on the income from their homes as part of their retirement income.) DIVIDEND TAX MCCAIN 15% (no = change) OBAMA 39.6% - (How will this affect you? If you have any money invested in stock market, IRA, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or =einvests dividends, you will now be paying nearly 40% of the money earned in taxes if Obama becomes president. The experts predict that Higher tax rates on dividends and capital gains would crash the stock market, yet do absolutely nothing to cut the deficit.') INCOME TAX MCCAIN (no changes) Single making 30K - tax = $4,500 Single making 50K - tax $12,500 Single making 75K - =ax $18,750 Married making 60K- tax $9,000 Married making 75K = tax $18,750 Married making 125K - tax $31,250 OBAMA eversion to pre-Bush tax cuts) Single making 30K - tax $8,400 Single =aking 50K - tax $14,000 Single making 75K - tax $23,250 Married =aking 60K - tax $16,800 Married making 75K - tax $21,000 Married =aking 125K - tax $38,750 Under Obama, your taxes could almost double! INHERITANCE TAX MCCAIN - 0% (No change, =ush repealed this tax) OBAMA Restore the inheritance tax Many families have lost businesses, farms, ranches, =nd homes that have been in their families for generations because they =ould not afford the inheritance tax. Those willing their assets to loved =nes will only lose them to these taxes. NEW TAXES PROPOSED BY = OBAMA New government taxes proposed on homes that are =ore than 2400 square feet. New gasoline taxes (as if gas weren't high =nough already) New taxes on natural resources consumption (heating =as, water, electricity) New taxes on retirement accounts, and last but not least....New taxes to pay for socialized medicine so we can =eceive the same level of medical care as other third-world countries!!! You can verify =he above at the following web =ites: http://money.cnn.com/news/specials/election/2008/index.=tml http://www.cnn.com/ELECTION/2008/issues/issues.taxes.html =BR>http://elections.foxnews.com/?s=proposed+taxes http://bullet=n.aarp.org/yourworld/politics/articles/mccain_obama_offer_different_visi=ns_on_taxes.html http://blog.washingtonpost.com/fact-checker/cand=dates/barack_obama/ http://blog.washingtonpost.com/fact-checker/c=ndidates/john_mccain/

Hello ppl, Every time I google for something, the yahoo answers pops up and give me the correct answer. You guys are doing a really good job,afterall a good advise is a rare thing..Hope I can use this for my long lasting questions.. I am 24 yrs old, working in Amsterdam and as like every other Indian youth, I wanted to know the proper ways to invest money. I have no idea about share markets, I dont have a demat account, a PAN or resident account in India, all I have is an NRI account. I can save around Rs 60,000 per month,(which will be growing every year..) in which I give home Rs 30,000. When I speak with my friends back in India, every one fires too many ways to invest the money, such as Real Estate,Gold,Shares, Insurance, Property etc etc. I have started with opening a demat account, asked for a PAN, so I holded it back. Tried for a home loan, I was told I should be 25 yrs age for eligible for a NRI home loan. Buying Gold, I have no idea how to do it. To put in simple terms, I learnt the art of make money, but have NO idea to invest money.. So please advise on a way to look further. Kindly note, I dont need any very long term retirement plans, as Im paying off big bucks here for the same. Let me know the do's and dont's..!!! Hope for your kind advises,,, Many Thanks...

SIMPLE MATH: 2008 PRESIDENTIAL CANDIDATE COMPARISON TALKING POINTS ISSUE JOHN McCAIN BARAK OBAMA Favors new drilling offshore US Yes No Will appoint judges who interpret the law not make it Yes No Served in the US Armed Forces Yes No Amount of time served in the US Senate 22 YEARS 173 DAYS Will institute a socialized national health care plan No Yes Supports abortion throughout the pregnancy No Yes Would pull troops out of Iraq immediately No Yes Supports gun ownership rights Yes No Supports homosexual marriage No Yes Proposed programs will mean a huge tax increase No Yes Voted against making English the official language No Yes Voted to give Social Security benefits to illegal's No Yes CAPITAL GAINS TAX MCCAIN 0% on home sales up to $500,000 per home (couples). McCain does not propose any change in existing home sales income tax. OBAMA 28% on profit from ALL home sales. (How does this affect you? If you sell your home and make a profit, you will pay 28% of your gain on taxes. If you are heading toward retirement and would like to down-size your home or move into a retirement community, 28% of the money you make from your home will go to taxes. This proposal will adversely affect the elderly who are counting on the income from their homes as part of their retirement income.) DIVIDEND TAX MCCAIN 15% (no change) OBAMA 39.6% - (How will this affect you? If you have any money invested in stock market, IRA, mutual funds, 401 accounts, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends, you will now be paying nearly 40% of the money earned on taxes if Obama becomes president. The experts predict that 'Higher tax rates on dividends and capital gains would crash the stock market, yet do absolutely nothing to cut the deficit.') INCOME TAX MCCAIN (no changes) Single making 30K - tax $4,500 Single making 50K - tax $12,500 Single making 75K - tax $18,750 Married making 60K- tax $9,000 Married making 75K - tax $18,750 Married making 125K - tax $31,250 OBAMA (reversion to pre-Bush tax cuts) Single making 30K - tax $8,400 Single making 50K - tax $14,000 Single making 75K - tax $23,250 Married making 60K - tax $16,800 Married making 75K - tax $21,000 Married making 125K - tax $38,750 Under Obama, your taxes could almost double! INHERITANCE TAX MCCAIN - 0% (No change, Bush repealed this tax) OBAMA Restore the inheritance tax Many families have lost businesses, farms, ranches, and homes that have been in their families for generations because they could not afford the inheritance tax. Those willing their assets to loved ones will only lose them to these taxes. NEW TAXES PROPOSED BY OBAMA New government taxes proposed on homes that are more than 2400 square feet. New gasoline taxes (as if gas weren't high enough already) New taxes on natural resources consumption (heating gas, water, electricity) New taxes on retirement accounts, and last but not least....New taxes to pay for socialized medicine so we can receive the same level of medical care as other third-world countries!!! You can verify the above at the following web sites: http://money.cnn.com/news/specials/election/2008/index.html http://www.cnn.com/ELECTION/2008/issues/issues.taxes.html http://elections.foxnews.com/?s=proposed+taxes http://bulletin.aarp.org/yourworld/politics/articles/mccain_obama_offer_different_visions_on_taxes.html http://blog.washingtonpost.com/fact-checker/candidates/barack_obama/ http://blog.washingtonpost.com/fact-checker/candidates/john_mccain/ feels so good =typical dem if we pay more the government will do the next right thing with our money or if we give em more everything will be fine,I guess you feel you are not inteligent enough to mannage your own money Kate I am so glad you hate hate radio,lol kate m also the dems never lie to the american public,oops it depends on the question lot of educated answers here and as always some no brain answers,from those who think if we give our earned income away the powers that be will pay their bills and make us all live in an eutopian society,Yea Rite,why don't you think you can handle your own money better than government,no dis-respect to the mentally incapacitated. when shall we learn from history,ex.=" tax put on phones to fund Spanish -American war" DUH

answer after reading this. Dear everyone I thought you might find thisinteresting...Tell your friends about this! SIMPLE MATH: 2008 PRESIDENTIAL CANDIDATE COMPARISON TALKING POINTS ISSUE JOHN McCAIN BARAK OBAMA Favors new drilling offshore US Yes-McCAIN No-OBAMA Will appoint judges who interpret the law not make it Yes-McCAIN No-OBAMA Served in the US Armed Forces Yes-McCAIN No-OBAMA Amount of time served in the US Senate 22 YEARS-McCAIN 173 DAYS-OBAMA Will institute a socialized national health care plan No-McCAIN Yes-OBAMA Supports abortion throughout the pregnancy No-McCAIN Yes-OBAMA Would pull troops out of Iraq immediately No-McCAIN Yes-OBAMA Supports gun ownership rights Yes-McCAIN No-OBAMA Supports homosexual marriage No-McCAIN Yes-OBAMA Proposed programs will mean a huge tax increase No-McCAIN Yes-OBAMA Voted against making English the official language No-McCAIN Yes-OBAMA Voted to give Social Security benefits to illegals No-McCAIN Yes-OBAMA CAPITAL GAINS TAX MCCAIN 0% on home sales up to $500,000 per home (couples). McCain does not propose any change in existing home sales income tax. OBAMA 28% on profit from ALL home sales. (How does this affect you? If you sell your home and make a profit, you will pay 28% of your gain on taxes. If you are heading toward retirement and would like to down-size your home or move into a retirement community, 28% of the money you make from your home will go to taxes. This proposal will adversely affect the elderly who are counting on the income from their homes as part of their retirement income.) DIVIDEND TAX MCCAIN 15% (no change) OBAMA 39.6% - (How will this affect you? If you have any money invested in stock market, IRA, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends, you will now be paying nearly 40% of the money earned on taxes if Obama becomes president. The experts predict that 'Higher tax rates on dividends and capital gains would crash the stock market, yet do absolutely nothing to cut the deficit.') INCOME TAX MCCAIN =0 D (no changes) Single making 30K - tax $4,500 Single making 50K - tax $12,500 Single making 75K - tax $18,750 Married making 60K- tax $9,000 Married making 75K - tax $18,750 Married making 125K - tax $31,250 OBAMA (reversion to pre-Bush tax cuts) S ingle making 30K - tax $8,400 Single making 50K - tax $14,000 Single making 75K - tax $23,250 Married making 60K - tax $16,800 Married making 75K - tax $21,000 Married making 125K - tax $38,750 Under Obama, your taxes could almost double! INHERITANCE TAX MCCAIN - 0% (No change, Bush repealed this tax) OBAMA Restore the inheritance tax Many families have lost businesses, farms, ranches, and homes that have been in their families for generations because they could not afford the inheritance tax. Those willing their assets to loved ones will only lose them to these taxes. < b>NEW TAXES PROPOSED BY OBAMA New government taxes proposed on homes that are more than 2400 square feet. New gasoline taxes (as if gas weren't high enough already) New taxes on natural resources consumption (heating gas, water, electricity) New taxes on retirement accounts, and last but not least....New taxes to pay for socialized medicine so we can receive the same level of medical care as other third-world countries!!! You can verify the above at the following web sites: http://money.cnn.com/news/specials/election/2008/index.html http://www.cnn.com/ELECTION/2008/issues/issues.taxes.html http://elections.foxnews.com/?s=proposed+taxes http://bulletin.aarp.org/yourworld/politics/articles/mccain_obama_offer_different_visions_on_taxes.html http://blog.washingtonpost.com/fact-checker/candidates/barack_obama/ http://blog.washingtonpost.com/fact-checker/candidates/john_mccain/

SIMPLE MATH: 2008 PRESIDENTIAL CANDIDATE COMPARISON TALKING POINTS THE ISSUES: JOHN McCAIN / BARACK OBAMA Favors new drilling offshore US JM - Yes BO - No Will appoint judges who interpret the law not make it JM - Yes BO - No Served in the US Armed Forces JM - Yes BO - No Amount of time served in the US Senate JM - 22 YEARS BO - 173 DAYS Will institute a socialized national health care plan JM - No BO - Yes Supports abortion throughout the pregnancy JM - No BO - Yes Would pull troops out of Iraq immediately JM - No BO - Yes Supports gun ownership rights JM - Yes BO - No Supports homosexual marriage JM - No BO - Yes Proposed programs will mean a huge tax increase JM - No BO - Yes Voted against making English the official language JM - No BO - Yes Voted to give Social Security benefits to illegals JM - No BO - Yes CAPITAL GAINS TAX MCCAIN 0% on home sales up to $500,000 per home (couples). McCain does not propose any change in existing home sales income tax. OBAMA 28% on profit from ALL home sales. (How does this affect you? If you sell your home and make a profit, you will pay 28% of your gain on taxes. If you are heading toward retirement and would like to down-size your home or move into a retirement community, 28% of the money you make from your home will go to taxes. This proposal will adversely affect the elderly who are counting on the income from their homes as part of their retirement income.) DIVIDEND TAX MCCAIN 15% (no change) OBAMA 39.6% - (How will this affect you? If you have any money invested in stock market, IRA, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends, you will now be paying nearly 40% of the money earned on taxes if Obama becomes president. The experts predict that 'Higher tax rates on dividends and capital gains would crash the stock market, yet do absolutely nothing to cut the deficit.') INCOME TAX MCCAIN (no changes) Single making 30K - tax $4,500 Single making 50K - tax $12,500 Single making 75K - tax $18,750 Married making 60K- tax $9,000 Married making 75K - tax $18,750 Married making 125K - tax $31,250 OBAMA (reversion to pre-Bush tax cuts) Single making 30K - tax $8,400 Single making 50K - tax $14,000 Single making 75K - tax $23,250 Married making 60K - tax $16,800 Married making 75K - tax $21,000 Married making 125K - tax $38,750 Under Obama, your taxes could almost double! INHERITANCE TAX MCCAIN - 0% (No change, Bush repealed this tax) OBAMA Restore the inheritance tax Many families have lost businesses, farms, ranches, and homes that have been in their families for generations because they could not afford the inheritance tax. Those willing their assets to loved ones will only lose them to these taxes. NEW TAXES PROPOSED BY OBAMA New government taxes proposed on homes that are more than 2400 square feet. New gasoline taxes (as if gas weren't high enough already) New taxes on natural resources consumption (heating gas, water, electricity) New taxes on retirement accounts, and last but not least....New taxes to pay for socialized medicine so we can receive the same level of medical care as other third-world countries!!! You can verify the above at the following web sites: http://money.cnn.com/news/specials/election/2008/index.html http://www.cnn.com /ELECTION/2008/issues/issues.taxes.html http://elections.foxnews.com/?s=proposed+taxes http://bulletin.aarp.org/yourworld/politics/articles/mccain_obama_offer_different_visions_on_taxes.html http://blog.washington SORRY...here's the right link: http://www.cnn.com/ELECTION/2008/issues/issues.taxes.html Whether it's been passed around or

I'm not familiar with IRA at all, but I've started my 401k last year on top of online savings account that I rarely touched (just for deposits). I put 80% of my money in low-risk and 20% in high-risk. My co-workers said that since I'm only 25, I should put majority of my 401k money in high-risk. But I've heard horror stories of people losing more than 50% of their 401k plan after they've retired because you never know what's going to happen with US' economy and politic in the future. I also just watched Frontline's "Can you afford to retire?" and it seems like a lot of people got screwed by 401k plans. Here's the video if you're interested to watch: http://www.pbs.org/wgbh/pages/frontline/retirement/ Am I too cautious? How's IRA really work in a simple explanation? What is the best way to invest or save for your retirement?