Most tax filers are getting a refund after they file their 2012 return. With the average refund running about $3,000, a lot of people will be thinking about what to do with the extra cash.
It’s a dilemma that many parents face – how to help fund a child’s college education. But with tuition costs so high, financial advisors worry that parents may be risking their own retirement to help their kids.
Some good news for those who sock away money from every pay-check into their 401K retirement fund. While the 2011 maximum pre-tax contribution to 401K’s was $16,500, the 2012 amount that can be contributed without paying taxes on it is $17,000.
As politicians in Washington fail to compromise on the nation’s debt ceiling, local financial analysts worry about the impact on us.
The annual Social Security statement, mailed out annually a few months before your birthday for all workers over age 25, will soon be a thing of the past.