Is it National Ice Cream Day already? I’m still burning off the calories I ate last year at this time. Whether you’re a big fan or treating this like any other day, let’s get on with the roundup.
I rediscovered a classic post from Jim at Bargaineering, 50 Financial Skills Every Person Needs To Know. An excellent list of skills one should have. And a welcome addition to my Joe’s List of Lists, which I edit every so often.
At Wealth Pilgrim, my friend Neal gives advice on IRA Restrictions – A Guide To Your Best IRA. I find it remarkable that the rules are so complex for retirement accounts that most people are clueless to how IRAs work. Let Neal get you up to speed on the basics, and maybe save you from a costly mistake.
Posting at MoneyWatch, I read an interesting article by Farnoosh Torabi, Extreme Coupons: TV Show Draws Extreme Backlash. A coupon backlash? Well, when people see that with some (ok, a lot) effort, they might be able to save hundreds of dollars on a grocery or drug store visit, I can understand the stores getting nervous. Check out her article, and let me know if you found your local stores starting to change their policy regarding coupon use.
North of the (US) border, Robb Engen guest posted at Canadian Finance Blog, Freedom 55 Is Just A Dream. Perhaps, but it all starts with education, a decent income, and living sufficiently beneath your means to start saving aggressively at a young age. For me, I may be able to retire at 55, but will likely work a bit longer, depending what else is going on in my life.
Emily Guy Birken Guest posted at Moolanomy on Estate Taxes: Planning Now to Avoid Taxes Later. If you thought retirement account rules were complex, the Estate Tax is bound to confuse you. Emily does a great job explaining your options to keep more money in your beneficiaries hands and out of Uncle Sam’s.
Money Guy debunks POTUS’ looking to tax jet owners and others at Jet Owners, Ogres, and Other Millionaire Myths. Tax jets and the workers who build jets will be out of work. I don’t have the answers, but the path we’re on isn’t the right one. I agree with Money Guy.
And to wrap up the week, Kay Lynn at Bucksome Boomer tell us what she’d do “If I had a Million Dollars.” I believe I deserve the award for most boring answer in her comments, I’d put it away towards retirement, 100%, every last dollar. I’d still work for the next 6-10 years, and pay the mortgage over the next 6 as well. No big spending spree, no unplanned trips. Boring, sorry.