Archive for the ‘Personal Finances’ Category
Should I Convert my Traditional IRA to a Roth IRA?
Recent tax law changes have made it possible to convert your traditional IRA to a Roth IRA. As of January 1, 2010, the income requirement for conversions or rollovers of traditional IRAs to Roth IRAs has been eliminated.
But just because you can do something does not mean you should do it. There are always pros and cons. There are also many factors to consider when making this decision. How old are you? What is the amount of the investment and how is it invested? Will the funds be needed for retirement income or will they be part of the estate? How would the conversion affect your tax situation and retirement and estate planning.
You should always discuss decisions like these with your CPA and financial planner.
Credit Cards: Top 10 Spending Habits That Will Get You Noticed
Santa Claus may not be watching you. But the Credit Card companies are.
Credit card companies are profiling you and certain types of purchases can be red flags to the card companies that are looking for signs of consumers with questionable finances.
Not too long ago, the Federal Trade Commission filed a suit against CompuCredit, which marketed the Visa Aspire card. Reilly Dolan was on the FTC’s litigation team. Mr. Dolan says, “Compucredit was reviewing how consumers used the credit card, and it would lower the available credit to consumers based on their transactional history.”
