Author Archives: Linda Rogers

Ask Linda: We’re Getting Divorced. Now what?

Dear Linda, My spouse and I recently decided to get a divorce. What should we expect with regards to the divorce process and its financial implications? I am particularly concerned about how my retirement plan will be affected.  Separated Sam Dear Sam, We outlined the most common ways to obtain a divorce below, including the estimated price for each process. While this is not meant to replace your own due diligence, it should help you get started. Here are theRead More

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Ask Linda: Pre-tax versus Post-tax savings

Dear Linda, Should I save to my pre-tax 401k at work or my Roth IRA? I cannot fully fund both. Sincerely, Super Saver Dear Super Saver, To determine which account you should save to, calculate your tax rate today versus your projected rate in retirement. In general, Roth contributions are made with after-tax dollars and distributed tax-free. The 401k is the opposite – contributions are made with pre-tax dollars and distributions are taxed at ordinary income rates. If you areRead More

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Can’t get yourself FIREd? You can still have a LIFE.

FIRE stands for financially independent, retire early. The movement continues to grow, with retirees in their 20’s through 40’s. It has caught on because it is unexpected – we don’t picture retirees being so young. Yet it is entirely possible and there is an ever-growing number of blogs and books that prove it. The typical profile of someone who has achieved FIRE: Graduated from college with very little or no student loan debt Earned $100,000+ per year with benefits SavedRead More

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Ask Linda: I moved to consulting status – now what?

Dear Linda, I recently transitioned from being a salaried employee to a self-employed consultant. I like the flexibility but realize that I have more responsibility with regards to my finances. For example, I was previously enrolled in my employer’s 401k plan and now I am not sure how to save for retirement. I am also confused about taxes – my employer withheld money from each paycheck but no taxes are being withheld when clients pay me. And people keep sayingRead More

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How to Recognize a Ponzi Scheme

A Ponzi scheme is a fraudulent investment. The organizers of the scheme do not invest your money in something with intrinsic value. Instead, they pay you a “return” with the contributions of new investors. Ponzi schemes received their name in the 1920’s after Charles Ponzi was convicted of running this type of business. Despite all the knowledge we have of previous Ponzi schemes, they continue to defraud people from all walks of life. We are even seeing a new waveRead More

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Ask Linda: Which type of life insurance should we buy?

Dear Linda, My husband and I need life insurance. Should we purchase a Term Life or Whole Life policy to protect our young children? Please explain the difference. Underinsured Uma Dear Uma, The purpose of life insurance is to protect those who are dependent on your income in the event of your death. A dependent can be a spouse or a young child, but it can also be a sibling or a parent whom you help financially. While there areRead More

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