John Donofrio is our resident expert on all things tax. His column Tales From the Crypt makes a regular appearance in the Personal CFO. This month our Crypt keeper, needed to blow off some steam. Here is another example of how frustrating my business is. Like clockwork, I was doing my post-morning workout homework (WSJ, […]
I have to admit that I am pretty hard on insurance agents. I often compare them to the infamous “Needle-Nose Ned Ryerson” from the film Groundhog Day; and with good reason. Of the countless stories of investment fraud that crosses my desk each and every week, the overwhelming majority of them are perpetrated by dishonest […]
Another day… another attempt at separating senior citizens from their money. The air waves are being blanketed with advertisements for reverse mortgages. They are being sold as a cure-all for retirement financing, easy living, and in some cases a fantastic and astute means to finance other investments. The reality is that this could not be […]
Millions of Americans are saving for retirement in 401(k)s and Individual Retirement Accounts (IRAs). These tax-deferred accounts allow for individuals to invest pretax dollars, but require them to pay taxes on their deposits and accumulated earnings at the time of withdrawal. A Roth account allows for individuals to deposit after-tax dollars, but withdraw the accumulated […]
After years of talking and writing about the many issues surrounding annuities, our Registered Investment Advisory, Markowski Investments, decided to construct a new website entirely dedicated to helping individuals in regards to annuities. ANNUITYWATCHDOG.com will be a one of a kind resource to educate the investing public about the ins and outs of all types […]
One of the most frequent questions we face from investors all over the country is “What should I do with my (401K)” now that I a have changed jobs, retired etc. Whereas many investment questions are dependant upon an individual’s unique situation, this is one where I cannot fathom any reason for not rolling over […]
I recently received a call from a subscriber of this newsletter. He was quite distressed regarding all of the volatility in the markets and didn’t have the faintest idea on what he should do. The first thing I asked of him was what his time frame for his investments. He seemed a little taken back […]
My daughter is afraid of bears. I am still trying to figure out where it comes from because she is downright terrified of them. Even songs that mention the word bear get her nervous. I have tried in earnest to explain that bears don’t live in Florida and that she has no need to worry. […]
People need to be aware that there is steep tax liabilities associated with taking money out of your retirement accounts. The majority of the people that take distributions from their retirement accounts could have avoided these additional liabilities if they only asked before acting. We all know that there are circumstances that are beyond our […]
The most powerful committee in the House of Representatives is Ways and Means. Members of the caucus wield the most powerful instrument in the United States, the tax code. This past month Chairman Charles Rangel outlined what is being dubbed in many outlets as the “Mother of All Tax Hikes.” This is the largest individual […]