For individuals 70 ½ and older, the fiscal-cliff legislation that Congress approved last week contains some welcome news: Congress has resurrected a provision that allows those taking required minimum distributions from IRAs to save on taxes while donating up to $100,000 to a qualified charity. And because the provision is retroactive to 2012, as well as covering 2013, it could effectively offer a do-over to some people who reduced their charitable giving because of cliff-related tax uncertainty.
The boomer home: Small house, big rooms
While a significant percentage of Baby Boomers are in downsizing mode, neither they nor the rest of the population have lost their infatuation with features associated with big homes, according to a survey released today by the homebuilder PulteGroup Inc. To keep up with preferences among consumers of all ages, the builder says, it’s adding a number of such features to its newest homes, including more open space and more storage.
‘Future you’ to you: Save more money
Merrill Edge, a division of Bank of America Merrill Lynch, today unveiled an online tool that has just a whiff of science-fiction to it. The tool takes its inspiration from recent research that suggests that younger people who are exposed to visual approximations of what they might look like when they reach retirement age tend to save more.
States Try the Retirement-Plan Business
Encore: A California law would set up 401(k)-like plans for employees whose companies don’t have them
Can Doctors Protect Retirees From Fraud?
Encore: A growing program encourages physicians to watch for “financial exploitation” of seniors.
Hope for 401(k) Savers?
Encore: Amid calls to overhaul the retirement savings plans, a few encouraging signs.
A 401(k) Fee Secret Revealed
Encore: Some retirement-plan participants are paying higher expenses than others, new disclosures show.
Retire on $100 a Day
A list of places retirees can get by on after-tax earnings of $27,375 a year.
