Maximize Your Money With Kiplinger and NAPFA, June 2016
Kiplinger is teaming up with the National Association of Personal Financial Advisors (NAPFA), whose planners will answer questions about tax preparation, filing and more. Submit your questions here and get free personalized financial advice on Thursday, June 16, from 9 a.m. to 5 p.m. ET.
3rd & 7 37yd
3rd & 7 37yd
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My daughter is an American citizen that has lived and worked in Europe for the last 22 years filing both American and European tax returns. This year her Swiss employer is having her work in Michigan for a year beginning in August. How can we find an international tax preparer to guide her on what will be required of her tax wise (such as filing estimated taxes and whether she will be required to pay social security and Medicare taxes, etc. in addition to her Swiss taxes).
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Seb, ask your wife's employer if her coverage would change it all if she was enrolled in Medicare part A. That will help determine if it makes sense to enroll now or wait until she stops working. As for Medicare Part B, Kiplinger has a good resource with some more information that might be helpful... http://www.kiplinger.com/article/retirement/T039-C000-S004-should-you-enroll-in-medicare-if-you-still-work.html
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Robert, people used to ask my contractor husband to give them an estimate over the phone re: painting their house. Of course he couldn't as he had no idea of what they were talking about. Well that is kind of like your question. We would need a lot of context for a good answer. Why not spend a little on an hourly fee only advisor so you can get a good answer? That said, be sure to have keep a good cash emergency fund. Then perhaps use a target date fund for the remainder. Vanguard has good ones.
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Zane, if you're truly looking for low-risk, then you might try shopping around for a good savings account. Many online banks now offer rates in the 1.00% range. It's still not great, but it beats the 0.10% or some other ridiculously low rate many other banks are paying right now. With that said, keep in mind that even a savings account has risks over the long-term if you're talking about retirement investments. In this case, it's the risk that your savings won't keep up with inflation and possibly lower your future standard of living.
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Zane the best rates I've found are at Ally Bank of Capital One 360 but we are still talking perhaps 1% (Ally offers a good rate on checking as well). Why not dollar cost average (invest an equal amount monthly...this can be set up to be automatic) into funds over the next year to ease the pain of a potential market decline? Be sure to keep enough cash for any purchases/needs in the next few years as well as an emergency fund.
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I am a 64-year-old widowed woman who is disabled and collects SSD along with my husband's SS check, which is a fraction of what he would have collected. I have a traditional IRA containing around $7,000 that's in the stock market, a small annuity, some small CD's, and some cash. I work as a substitute teacher during the year and I make about $6,000 a year. I save as much money as I can, but it is minimal.
Where is the best place to save for the future? My husband and I lost thousands in 2003 and never recovered. -
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