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Required Minimum Distributions for Traditional IRAs

A Traditional IRA requires you to take a distribution after you turn 70 ½. This is called a Required Minimum Distribution, often referred to as an RMD. Your RMD is calculated by dividing the amount in your IRA as of December 31st of the previous year by your life expectancy (as estimated by the IRS). So,…

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CTC tips: 2015 tax limits

It’s March, so it must be tax season. For the first several months of the year we focus a significant amount of time on the tax side of our work.  There is always something new – some new regulations to incorporate into reporting and new rules to work through. We like to use this time early…

Calculating Debt

Getting out of debt: snowball vs. avalanche

Want to get out of debt? If you have some extra money to put towards your debt every month, the debt snowball and debt avalanche repayment methods have proven to be popular and effective. We’ve written about these before, but Forbes has a nice video that summarizes the two methods for all of you visual learners out there.

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Inflation risk

Twenty cents for a gallon of milk; 10 cents for a loaf of bread. A new house for $10,000. A new car for $2,000. These prices may seem like a pipe dream but this was the reality in the 1940s. Prices are much higher today because of inflation – the rate the prices of goods…