Have a New Job What to Do With Your Old 401k

3Your old job is history, so why is your retirement money still there? That could be a costly mistake.

They’re called orphans. They’re the sad, lonely 401(k)s that workers leave behind when they change jobs.

What should you do if you have one? Well, you have four choices:

  • You could leave it with your old employer.
  • You could roll it into a 401(k) at your new employer.
  • You could roll it into an IRA of your choosing.
  • You could cash it out.

Now, forget we ever mentioned No. 4 because it isn’t just a bad idea, it’s a very, very bad idea. Cashing out your 401(k) has the potential to put you back at square one for retirement savings. What’s more, you’ll pay a 10 percent penalty on that money plus income taxes if you’re younger than 59½. Trust us, that’s not going to look pretty come April 15.

Instead, you should consider what type of retirement fund you want to hold your money. There’s nothing wrong with keeping your cash in a 401(k), but might we suggest an IRA could be a better choice?

Here are five reasons why you should consider rolling over your old 401(k) account into an

Global growth risks likely to keep rates at record low well into 2016 BoE suggests

1Interest rates still more likely to go up than down but weaker global growth and subdued commodity prices will weigh on inflation for the next two years

The Bank of England has signalled that interest rates could be held at a record low well into next year as global uncertainty weighs on Britain’s recovery.

The pound tumbled against the dollar and euro on Thursday after Bank policymakers kept interest rates at 0.5pc and warned that an “abrupt slowdown” in emerging markets could exert a bigger drag on UK growth and inflation.

As policymakers voted 8-1 in favour of leaving rates unchanged, Mark Carney, the Governor of the Bank of England, said Britain’s strong domestic performance was set against “foreign weakness”, particularly in emerging economies, which remained vulnerable to higher US interest rates and subdued commodity prices.

Avoid too low for too long? Mark Carney gestures whilst he speaks during an Inflation Report press conference at the Bank of England on Thursday  Photo: AFP

The Bank’s quarterly Inflation Report showed the domestic economy was expected to remain “resilient”, with

Low interest rates could allow unsustainable house price growth

2Delaying interest rate rises for too long could allow house prices to grow at an unsustainable pace, Savills has warned.

Lucian Cook, director of residential research at the real estate company, said that “if rates remain too low for too long house prices could rise to a level that would become unsustainable if rates were subsequently to rise sharply”.

• Global growth risks likely to keep rates at record low throughout 2016, suggests BoE

The timing of the first and subsequent interest rate rises since the crisis would be “critical to market sentiment”, he said, adding that if “interest rates rise slowly there is much more capacity for medium-term price growth”.

Separately, the Bank of England said on Thursday that households had started to cut their debts since the start of the financial crisis.

However, “the overall debt to income ratio appears to have stabilised at a relatively high level”, the Bank admitted.

“The proportion of households with mortgage debt between three and five times their income remains similar to that seen immediately prior to the crisis.”

Some of the Bank’s critics believe

Invest Now While the Going is Good

If you are getting the news on your t-mobile smart phone, then you are probably aware that the stock market everywhere is down. However, experts say that while this is a good time to invest, it is not because stocks are not performing. It is always a good time to invest, especially if you are planning for your retirement. Here are the reasons why.

You would have spent it on something useless

Most people spend more than they can afford, which is why there never seems to be enough left over. The tragedy is, they spend it on things that give no return. However, with a little judicious financial planning, you can always manage to save a little bit to invest in the stock market. Even a little can add up to a lot if you do it all the time, and it would be money spent that will give back in the end.

The market is volatile

There is no “good” time to invest. Movement of stocks is hard to predict, especially for casual investors. Even if the market is down, there is no guarantee that if you buy now you will make a profit. The price could keep on going down,

See! I was right

A new study from the University of Iowa finds that once people reach a conclusion, they aren’t likely to change their minds, even when new information shows their initial belief is likely wrong and clinging to that belief costs real money.

The study, co-authored by Tom Gruca, professor of marketing in the Tippie College of Business, has implications for understanding financial markets. He says equity analysts who issue written forecasts about stocks may be subject to this confirmation bias and do not let new data significantly revise their initial analyses.

Gruca found this confirmation bias in student traders participating in the Iowa Electronic Markets over a 10-year period during which they bought and sold real-money contracts to predict the four-week opening box office receipts for a new movie. The students analyzed markets for a total of 18 movies released between 1998 and 2008.

The research shows that even as the key first weekend box office receipts were reported, prices stayed remarkably stable as traders ignored new value-relevant information and continued to rely on their initial estimates.

Gruca says confirmation bias was induced through an assignment in which students were required to explain the thinking and analysis behind their forecast prior to

Maryland Hard Money Lender- Rehab Project

Using Hard Money to Fund a Construction Project You are ready to start construction, but the loan process is slowing you down. You should consider obtaining a hard money loan to get going on your project today. Hard money loans can be obtained quickly and with little upfront cost to you. What are hard money loans and how can I obtain one? Hard money loans are a type of real estate loan that is provided by private investors, through brokers. The collateral for this type of loan is the value of the property. In the case of a construction loan it is the improved value of the property. In order to provide security to the lender, the hard money loan will have higher interest rates than a conventional loan, and will be limited to around 65% of the improved value of the property. The lender will also only lend from the first position, so that in the event of a foreclosure, they are the first party to recover their investment. Hard money loans are short term loans, so you need to have an exit strategy before obtaining one of these loans, such as a plan to sell the property when

How to Get an Affordable Interest Rate on Your Personal Loan

Personal loans are a type of loan which you can take for a non-commercial purpose eg. re-decoration of a house, holidays etc. This is used to finance personal needs without having to dip in the savings. Personal loans approvals are fast and simple.

It is most important to get the best personal loan interest rates. This is because it plays an important role in the repayment of the loan. Since this is an unsecure loan, the interest rates are often very high, making it difficult for you repay the loan on a monthly basis.

It is a good idea to get an overall picture of all the different institutes you can get a loan from. Banks rates are often low, and one must look around for the best rate before finalizing.

Satisfying criteria for loan application

There are different criteria for allocation of personal loans like the individual’s employment status, income, age, repaying capacity etc. All you need is to show your proof of employment and identification to avail the loan.To get the best interest rate, enquire at many places. The banks would generally want to know your details. Your documents like salary slip and income tax returns can also help you get a

Ways To Find The Best Accountant That Is Available in Goodyear AZ

Indeed, you may find a plethora of options when you need accountants Goodyear AZ either for business or individual needs. However, you have to know that not all of them offer you with such a thing that you need. Nevertheless, what is an accountant? It is a person who help you to deal with certain thing that you have no idea how to deal with it, which also means that kind of person should have capability to dismiss the hustle and bustle for both your business and individual needs. Get the concept ideas?


In addition to it, just like a lawyer, doctor, or other related professions, though each of them sounds exactly the same, but you must treat it differently. To say it more simply each accountant has their own specialty. Suppose that you need some helps for consulting service in business field, make sure that you choose the one that compatible with it. Now, before you show your personal or business matter to any accountant that you meet, first thing’s first you need to understand about choosing an accountant that is best for your business. Some will recommend you to choose an accountant in Goodyear AZ based on

Advice to Keep in Mind When Getting a Cash Loan in Auckland

If a financial emergency suddenly occurs and you are in desperate need of cash, probably your best option is to take out a short term fast cash loan. You can apply for such a loan at home over the phone or internet. Approval of the loan is usually immediate and guaranteed once you are currently in employment and have an established current account. Whether you need a cash loan in Wellington or a cash loan from anywhere else in New Zealand, you have countless options. Here are some tips to keep in mind when obtaining a cash loan.

What is your credit record like?

If you have a poor credit score then you can search for specific lenders that are willing to give cash loans to those with poor credit. You can always ask a company if the credit score affects your chances of obtaining such a loan. Some don’t look at your credit rating at all.

Shop around

Don’t just look for lenders in your area. Instead, using the great resource that is the internet, search far and wide for those lenders with the best rates. You will have much more choice and more reasonable terms.

Consider having multiple lenders

Many lenders have special offers

Tips to Ace The Use of Credit Cards

How to deal with the creditcard in a logical way is a habit derived by careful actions and preplanning. The unending whirlpool of debt and interest await to entrap the lousy users of credit cards. So how do you go along the path of self-control and financial management all by yourself? This checklist helps you trot along this difficult path with ease.

Credit Card Comparison. The first step in being prepared is knowing your creditcard and the fine prints that underline it. There are websites available that allow comparisons of credit cards and their perks thoroughly to insure that you are not stuck with the wrong credit card.

Evaluate your spending. Evaluate the increase or trends of spending since you received your card. Keep an eye for over expenditure and make sure you keep within you credit limit. Using excel sheets to log spending is a good way to track your expenses.

Credit Limit. The hardest part is knowing when to stop. Thus the importance of setting a credit limit based on your financials becomes mandatory. Set a limit that helps you stay in control and resist urges to over spend and enter debts that become a burden.

Timely payments. Being on time to

How to Save on Holiday Spending Without Being a Scrooge

Bah humbug, the holidays are approaching but you are broke. What do you do?
Do you want to save on holiday spending this year? If you do, then don’t do it looking like a Scrooge!

There are so many ways to save money on your holiday shopping without looking cheap, so here are some of my top tips on how to get your most bang for your buck around the holiday season.

1. Shop at cashback sites to earn money back on your purchases. One company I really like is InboxDollars.com. I’ve been using the site for years; they actually were a big part of me being able to pay for Christmas one year just from surveys and cash back shopping. You simply take surveys to earn cold, hard cash! You can get a percentage of your purchase in cash back as well, so it really helps by stacking the savings. One of my favorite ways to save is the 5 percent cash back deal on Groupon.

2. Make sure every purchase you make has a triple dip savings. That means stacking savings. For example, buy your gift cards at a discount through your grocery store or places like cardpool.com and then shop

10 Best Ways to Blow Your Money

You work hard for a living and deserve everything life has to offer, right? Here are 10 easy ways to blow your money and guarantee a poorer tomorrow.

Money. Just about everybody has an opinion on it, and most of us wish we had more of it.

Look around you, though. Doesn’t it seem like a lot of us can’t spend our funds fast enough? From cash advances to time shares and constant tech upgrades, we fall for that old rationalization: “It’s only money — I can always make more of it.”

What is money for, anyway, except to enjoy? You work hard for a living and deserve all the perks that salary will buy. Be daring, not dull.

Thinking like that is a great way to put yourself perpetually into debt, or at least living paycheck to paycheck. With tongue firmly planted in cheek, here are 10 surefire ways to blow your money.

1. Drive a super-hot car. It goes without saying that your wheels will be expensive. The best always costs more, right?

So what if a high-octane sports car or top-of-the-line luxury vehicle is a bit beyond your price range? These days you can get an eight-year car loan. Drive on!

2. Buy a

Retire in Historic La Villa De Los Santos Panama

This quiet town with a long history provides the best of Panamanian country life.

November in Panama is the Mes de la Patria, the month when Panamanians celebrate their country’s road to freedom. Nov. 3 is the first of two independence days, this one remembering the break from Colombia in 1903. This is followed by Flag Day on Nov. 4 and Colon Day on Nov. 5. That last is like Columbus Day in the United States, remembering Christopher Columbus’s arrival in the New World.

Then comes the Primer Grito de la Independencia on Nov. 10. In English, this means the first cry for independence. It is the starting point in Panama’s history as an independent nation, and it took place in the village of La Villa de Los Santos on the eastern coast of Panama’s Azuero Peninsula. On this day in 1821, the people of Los Santos wrote a letter to Simón Bolívar complaining about the Spanish and asking for some revolutionary assistance. Eighteen days later, on Nov., 28, the country officially declared its independence from Spain. Needing a protector to help face whatever conflict might follow, the fledgling country aligned itself with Bolívar as part of the Gran Colombia. That didn’t

Retirees Get Big Lessons on Loopholes From Budget Deal

LOS ANGELES — Even people decades away from retirement should pay close attention to how Congress just ended two lucrative ways of taking Social Security benefits, known jointly as the “claim now, claim more later” strategy.

One big lesson: Once claiming methods are seen as benefiting the affluent, they are labeled loopholes, and that puts them on the chopping block.

“They can go away, and they can go away fast,” says Michael Kitces, a partner and director of research for Pinnacle Advisor Group in Columbia, Maryland.

Typically, Congress foists big Social Security changes on younger people and phases them in over time, such as when it voted in 1983 to increase over the course of 22 years the age for full retirement benefits to 67 from 65 for people born in 1960 and later.
This time, though, Congress killed the maneuvers quickly. They will be gone in six months since President Barack Obama signed the bill Monday, and the decision affects people close to retirement age.

The outgoing strategies consisted primarily of “file and suspend,” which allowed married couples to start a spousal benefit while allowing the primary earner’s benefit to continue to grow. That worked in conjunction with “restricted application,” which let people

5 Surprising Sources of Debt

Watch out ! These five scenarios could trick you into racking up debt.

Unemployment, medical bills, a shopping addiction — these all may be obvious causes of debt, but they certainly aren’t the only ways people end up in the red.

Other forms of debt are more insidious. They arrive looking like a big break or a money-saving option. But instead of getting you out of your financial hole, they actually dig you in deeper.

Don’t let these five hidden sources of debt say “Gotcha!”

Your New Job

The problem: Your new job is supposed to be your ticket out of paycheck-to-paycheck living, but a big boost in income is often accompanied by a big boost in spending.

“When people get a new job, it looks like a limitless amount of money so they splurge on a new car or a buy a lot of clothes,” says Joe Heider, founder of Cirrus Wealth Management in Cleveland.

Cecilia Beach Brown, a certified financial planner at Lincoln Financial Securities in Annapolis, Maryland, says it’s a common trap. “When the money’s there, it’s hard to say ‘no.'” Then people lose their job or are otherwise unable to maintain their new lifestyle.

The solution: Rather than increase your spending, continue to budget

How My Family Makes It Work Living on One Income

Groceries, car payments, the mortgage, clothes for the kids.

If you’re like most families in America, that’s just a fraction of what you need to take into consideration when mapping out your monthly budget.

And these days, unless you or your spouse is commanding a high salary, the idea of stretching one paycheck to cover an entire family can be daunting.

Still, some folks — more than you may think — are finding crafty ways to make it work. Here’s just how many more: According to a Pew report, the ranks of stay-at-home moms are on the rise, with some 85 percent making the choice to care for their families. And being a stay-at-home dad is now almost twice as common as it was in the ’80s.

To hear firsthand what it’s like to make the leap to single-income status, we asked families across the U.S. to share their stories — and their best money tips.

‘We’re a Family of Five Who Live on Less Than $50,000’

Who: Sarah Prince, 29, project manager for a genetics company, Salt Lake City.

“My husband, Trevin, and I met in college, and when we got married 10 years ago, I became the primary income earner while he pursued a career

What Couples Really Want in Retirement

Ah, retirement. That second honeymoon you’ll spend lounging around with your main squeeze. Which is who, exactly?

While about 60 percent of men want to hang with their wives during retirement, only 43 percent of wives agree, according to a survey from Fidelity and the Stanford Center on Longevity.

Instead, 70 percent of women cite quality time with grandkids as a big motivator to retire. The survey draws on responses from those ages 55 and up — and as workers get older, turns out the idea of spending retirement with a spouse loses more of its luster

Could that be encouraging some employees to stick it out at the office well past 70?

Another thought-provoking survey finding is that about half of Americans plan to stop working on a specific date — no matter how much they’ve saved up for retirement.

They’ve got big plans that involve, well, not really needing to plan anything. Almost 75 percent of respondents expressed that the No. 1 reason for retiring was to have freedom and flexibility, even to simply relax at home.

And if they do take on a side gig or two, 61 percent say it’s because they enjoy doing the work and want to feel valued.

Or, just

Are You Showing the Signs of Lifestyle Creep

Lifestyle Creep. It doesn’t sound like something you want in your life, but a lot of millennials have it. Unfortunately, it’s not something you can buy a cream for. Lifestyle creep is a purely financial phenomenon and it’s highly contagious. What’s more, it typically flares up when your life is at its best.

Lifestyle creep is a simple idea. People who are used to living a frugal life by necessity often start earning more money as they progress in their careers. In other cases, they earn the same amount, but their regular expenses are reduced. In either case, there’s an excess of income and many people aren’t prepared for how to deal with it.

So what happens? People start splurging a little bit more. Items and experiences that used to be luxuries gradually become daily necessities. Life starts getting more exciting … and more expensive. Traditionally, this phenomenon has been seen in older adults who are entering the prime of their career earnings, just a few years before retirement. They start living it up. But because retirement funds are supposed to be sufficient to sustain a lifestyle without other income, lifestyle creep has a way of creating

Rental Car Insurance From Your Credit Card

Your auto insurance most likely kicks in first, but your credit card can fill in gaps, such as the deductible.

Q. I’m going to rent a car when traveling for Thanksgiving. I understand that my credit card will provide rental car insurance. How does this coverage work? –E.S., Hanover, Pennsylvania.

A. Your own auto insurance policy most likely covers rental car damage and liability, up to the same limits as for your own vehicle, and that insurance kicks in first. But your credit card can fill in the gaps, such as the deductible. The coverage varies by card issuer and requires certain steps.

All Visa, Discover and American Express cards and some MasterCards, provide rental car coverage. To qualify, you must reserve the rental car with the same credit card you use to pay for it. You must also decline the rental company’s supplemental insurance and collision damage waiver.

The card company may limit coverage to 15 or 31 days, and it may not cover cars rented in certain countries, according to Card Hub, which provides credit card rates and other information. Most card companies don’t cover trucks, and American Express doesn’t cover some full-size SUVs, such as Chevy Suburbans and Tahoes, GMC Yukons

Money Problems and Couples How to Be a Better Partner

There are plenty of things that put strain on a relationship. If you are a grown up person in some sort of partnership with another grown up person, you already understand this. You also know that money problems are at the root of a great deal of disharmony, which seems to be a universal trait.

Having your money under control means greater personal security, a better chance at happiness, more options for the feature, more leisure time and a whole host of other life benefits. But when couples feel the pinch, sparks can fly. In fact, one recent study found that arguments about money are the single greatest predictor about whether married couples will one day divorce.

That’s an interesting finding, seeing as the researchers found that it didn’t matter if the couples were rich or poor, had debt or were debt-free. Fundamental disagreements about money transcend socioeconomic status, and when you and a partner don’t see eye to eye, your relationship may pay the price. If you and your partner are on the rocks due to financial stress or if you want to avoid these problems in the future, here are some things to work on.

Don’t Be So Materialistic

A BYU study