ObamaCare and your pocketbook

For the millions of people who have individual health insurance, the impending implementation in 2014 of the Patient Protection and Affordable Care Act (PPACA), popularly known as ObamaCare, is of great concern. The focal  points of this landmark legislation  is the mandate which requires every American to have health insurance and prohibits health insurance providers from denying coverage to anyone regardless of their current medical condition. The effects of these aspects of the new law on insurance premiums are not uniform. They will vary from state to state and person to person. Where Obamacare hurts In states such as Indiana,

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What to do with your required minimum distributions (RMDs)

Required minimum distributions, better known as “RMDs,” refer to the amount of money that is required to be distributed from pre-tax retirement accounts, like IRAs, after age 70.5. If the amount is not withdrawn, a 50% penalty may be assessed. While some retirees might take the RMD for necessary personal expenses, there are other options available to those who do not need the money. Here are two simple ideas for what you can do if you don’t anticipate needing your RMD: 1)      Convert your IRA to a Roth:  The RMD itself is not available for a conversion (after all, the

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How the Fed impacts your portfolio

Since September of last year, the Federal Reserve has been buying $85 billion in bonds every month, aiming to lower long-term interest rates and boost economic growth. Overall, the U.S. central bank has bought more than $2 trillion of government bonds, private debts, agency housing debts and other bond instruments dating back to the Financial Crisis. It has paid for these purchases by crediting funds to the reserves of private banks, which is commonly referred to as “money printing.” Liquidity trap The Fed began printing money because, in its view, the crisis plunged the country into a “liquidity trap,” a situation

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