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Archive for May, 2010

May 29th, 2010

What is a Tax-Sheltered Annuity?

(Money Manager) - A tax-sheltered annuity is an account where you can deposit some of your pre-tax dollars for the purpose of long-term savings. The money deposited in the annuity is not taxed when the money is deposited, but is instead taxed when the money is withdrawn. A tax-sheltered annuity can be a great addition to a person's overall retirement plan, but should not be the only type of plan used to prepare for retirement.

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May 17th, 2010

What is a Tax-Deferred Savings Plan?

(Money Manager) - A tax-deferred savings plan is usually an account that is associated with a person's retirement savings, such as a 401(k) plan or an IRA. Tax deferred plans are also available for other purposes, including education savings plans. These plans work by deferring any taxable income accumulated in the account until a particular date or until the money is withdrawn, depending on the details of the account.

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May 15th, 2010

What is a Thrift Savings Plan?

(Money Manager) - A thrift savings plan, commonly referred to as a "TSP," is a retirement plan that was created as a result of the Federal Employees Retirement System Act of 1986. This plan was designed to provide for the retirement needs of those who worked for the federal civil service. The thrift savings plan was designed to provide these federal employees with the same kind of retirement savings plan that private sector employees have as a result of a 401(k) plan. Contributing to the thrift savings plan is accomplished in a similar fashion as with other retirement planning accounts, with a set amount being automatically deducted from the employee's paycheck while they are employed. There are a variety of funds within the thrift savings plan that a person can choose from when planning their retirement investments.

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May 3rd, 2010

The Markets

(Michael Schwartz) - Two tragedies, worlds apart, reached a boil last week and affected the financial markets in a not so pleasant way. Greece, which is an ocean away and no stranger to tragedy, (think Aeschylus, Sophocles, and Euripides), nearly imploded last week on fears that its government was bankrupt. With huge budget deficits and no credible way to pay them, Greece saw....

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