Each day, One Day Closer provides the articles from across the worldwide web that help you move one day closer to a sound financial situation, a retirement you always envisioned, a safe and secure financial future for you and your family. This will be added to throughout the day with important articles.
Quote of the Day:
Earned Income Tax Credit, Ways to Invest Small and Think Big, 2012 Gifting Rules
Wednesday, February 01, 2012
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The money's no better in retirement but the hours are!
-Terri Guillemets
Articles of the Day:
Benefits without a boss: The Wall Street Journal talks about do-it-yourself benefits. http://on.wsj.com/xXES6A
There is an identity theft crackdown, and the IRS is on the case. http://1.usa.gov/yy7C0Q
10 things the IRS wants you to know about the earned income tax credit. http://1.usa.gov/wkoze3
This article discusses those trying to save health-care plans for retirees (many are struggling, some filing for bankruptcy). http://on.wsj.com/yVoEXj
Is this man the most taxed man in America? Reuters looks at his story. http://reut.rs/xohfRZ
You don't have to be rich to build wealth. This Wall Street Journal article looks at ways you can start small and still think big. http://on.wsj.com/yNO5sc
An interesting perspective from MSN Money on how to break your addiction to credit cards. http://on-msn.com/wRNg7f
This article outlines the IRS gifting rules and limits for 2012. http://bit.ly/xcoduF
For teachers: a new tool from the National Education Association will be able to clearly disclose 403(b) plan fees. http://usat.ly/y0UaQS
This BusinessInsider article provides 4 tips to help you save for a healthy retirement...even if you feel like you are broke. http://read.bi/zZeOsl
Is your bank account statement a new coupon source? This article looks at the possibility. http://sm.wsj.com/xQLyDk
Mailbag
Thursday's Slott Report Mailbag
Consumers: Send in Your Questions to [email protected]
Q:
Can I transfer money from my IRA to my husband's Roth IRA? I am 35, and he is 36.
Thank you!
Gail Clements
A:
No. The only way your IRA funds can be transferred to your husband’s IRA is in a divorce or after your death. Even then, it would have to be transferred to a similar IRA, for example an IRA to IRA or a Roth IRA to another Roth IRA. In this case, you cannot transfer your IRA into your husband’s Roth IRA.
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