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Now browsing: Hometown News > Business Columns > Marc Tomberg
Marc Tomberg
This Week | Archive
April 20, 2012
Early distributions from retirement plans - Qualified retirement plans and individual retirement accounts are great vehicles to take advantage of tax-deferred growth potential and save for retirement. When an individual eventually decides to tap into his or her retirement fund, withdrawals from these plans are subject to regular income taxes. There's one catch, however, for people who are... Full Story
April 13, 2012
Early distributions from retirement plans - Qualified retirement plans and individual retirement accounts are great vehicles to take advantage of tax-deferred growth potential and save for retirement. When an individual eventually decides to tap into his or her retirement fund, withdrawals from these plans are subject to regular income taxes. There's one catch, however, for people who are... Full Story
March 30, 2012
The ABCs of asset protection - You're doing the right things if you're working hard, saving and investing wisely. And you're looking forward to benefiting those you hold near and dear: yourself, your spouse, your children, your family, your employees, your business clients, your neighbors, the IRS. What? You don't want to benefit all those folks? Of course not. But without a co... Full Story
March 16, 2012
Top 10 features of long-term care insurance - Will you outlive your resources? As health awareness increases and medical care improves, we can expect to live longer than any generation before us. As we live longer, the need for care in our latter years increases. Illness and injury can be prevented and cured, but the odds are we'll still need assistance with the activities of daily living. L... Full Story
March 2, 2012
Time is on your side - Consider the savings habits of this 20-year-old couple. The wife starts putting $2,000 per year into a tax-deferred investment when she is 20. After 10 years, she decides to stop investing and just let her money grow until she retires. The husband decides to start investing when his wife stops. He invests $2,000 a year in a tax-deferred investment... Full Story
February 10, 2012
Would refinancing be worth it? - Many of us are familiar with the general rule of thumb that proclaims refinancing becomes worth your while if the current interest rate on your mortgage is at least 2 percentage points higher than the prevailing market rate. However, that rule of thumb may be somewhat oversimplified. For accuracy, be sure to compare apples to apples when consideri... Full Story
January 27, 2012
What do you really need to have to preparing for your tax preparer? - It's that time of year many may be dreading: tax season. Whether a tax advisor prepares your taxes or you handle them yourself, it's always a good idea to organize the necessary documents beforehand. Use this checklist to determine what you'll need to prepare your taxes. Employment and income records . W-2 forms for each employer. . Pension and an... Full Story
January 13, 2012
Durable powers of attorney - Durable powers of attorney are very useful tools when planning for the possibility of physical or mental incapacity. Durable powers of attorney allow for managing one's financial affairs or making medical decisions in spite of incapacity. In order to understand a durable power of attorney, it is necessary to first understand powers of attorney in ... Full Story
December 30, 2011
Profit from your losses - Toward the end of the year, investors begin to size up the performance of their investments for the year. Our winning positions, both realized and unrealized, fill us with great satisfaction while our losers sit there and stare us square in the face. Attempting to take advantage of your losses may help you overcome them both psychologically and fi... Full Story
December 16, 2011
Educating your kids can be a real education - Many alternatives exist today to fund college education for your children. Among the options are: . Pay as you go. This might have worked when college students were wearing tie-dyed T-shirts (the first time they were popular.) Now the cost of four years of education at some private schools approaches the cost of a home. Only the very wealthy can p... Full Story
December 2, 2011
Getting your records organized - Your financial future can only be in focus if you have developed a financial plan. The "nuts and bolts" of your financial plan will depend on accurate records providing the details of your life. That's why your records should be as individual as you are. This list will help you gather your nuts and bolts to build a foundation for budgeting, inves... Full Story
October 28, 2011
How to select a financial advisor - What is the best way to go about finding a financial advisor? Many individuals are looking for someone who has an accounting background and has familiarity with income and estate taxation. Many consumers are concerned about the inherent conflict of interest concerning recommendations and commissions. You may want to select an advisor who can provi... Full Story
October 14, 2011
Is it time to refinance? - Refinancing, is it time yet? An oft-quoted rule of thumb is that a borrower should consider refinancing if interest rates fall more than 2 percent below the original rate. This rule of thumb is really too simplistic to have much meaning. The question really involves comparing the after-tax savings in the monthly payment to the closing costs of the... Full Story
October 7, 2011
Is it time to refinance? - Refinancing, is it time yet? An oft-quoted rule of thumb is that a borrower should consider refinancing if interest rates fall more than 2 percent below the original rate. This rule of thumb is really too simplistic to have much meaning. The question really involves comparing the after-tax savings in the monthly payment to the closing costs of the... Full Story
September 23, 2011
Reassessing your risk tolerance - The potential return from any investment can generally be linked to the amount of risk the investor is willing to assume. Finding that balance between the return you desire and the risk you can handle has never been easy. What makes this problem even trickier is that your financial goals and your risk tolerance inevitably change throughout your l... Full Story
September 9, 2011
Reassessing your risk tolerance - The potential return from any investment can generally be linked to the amount of risk the investor is willing to assume. Finding that balance between the return you desire and the risk you can handle has never been easy. What makes this problem even trickier is that your financial goals and your risk tolerance inevitably change throughout your l... Full Story
August 26, 2011
Politics, policies and pessimism - There is a great deal of focus today on politics and our economy, and many investors have recently turned negative. Based on this feeling of pessimism, I believe that today's political drama and accompanying economic backdrop warrant some discussion. As I write, the major stock market indexes have dropped about 15 percent in under 45 days. This is... Full Story
August 12, 2011
When was your last financial checkup? - Nearly everyone has heard their doctor preach, at one time or another, about the need for routine checkups. Yet, how often do you consider the need for a review of your personal finances? By asking yourself the following questions, you may determine the time has come for a financial checkup. Do you have financial goals? If so, are they in writing ... Full Story
July 29, 2011
Common insurance mistakes we all make - We all know we need insurance, but it's not usually at the top of our priority list. Insurance is a valuable tool to protect our families from unforeseen events that can severely damage their financial futures, but it does not often get much of our attention. We have compiled a list of common insurance mistakes so you can determine if you are curr... Full Story
July 15, 2011
Traditional IRAs: still a good idea for 2011 - Mark Twain once said, "The rumors of my death have been greatly exaggerated." Like Mr. Twain's rumored demise, the notion that the traditional individual retirement account is no longer a useful part of a financial plan has been greatly exaggerated. Contributions to a traditional IRA continue to be a viable financial and retirement planning tool d... Full Story
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