finance

How Your IRA or 401(k) can Become a Tax-Free Gift for Your Loved Ones

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The IRS is coming - eventually - for the money in your 401(K) or Traditional IRA.

As a result, people who think they have $500,000 or $1 million stashed away for retirement will learn they have less than they realized once they start withdrawing the money and have to pay taxes on those withdrawals.

"It's not enough to simply save money and grow an IRA and 401(K)," says Troy Bender, president and CEO of Asset Retention Services Inc. 

3 Signs Your Money has Outgrown Your Investment Advisor

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While some people in the retirement-planning stages worry about outliving their money, others have a different concern: that their money is outgrowing their investment advisor.

It's not unusual for the size of the client's investment to increase well beyond their advisor's level of experience and knowledge. Higher net-worth individuals often demand more creative, sophisticated planning for their needs than their original advisor is able to provide.

4 Ways to Crush the Debt that’s Been Crushing You

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Debt continues to be a crushing burden for many Americans. From credit cards to auto loans, mortgages, student loans and medical bills, a high percentage of the nation's households have one or more of those types of debt. 

According to a NerdWallet debt analysis in 2017, the average American household carrying credit card debt owed a balance of $15,654. The average balance for a household with auto loans was $27,669; it was $46,597 for a student loan; and $173,995 for the average remaining on a mortgage.

Is Your Retirement Plan Ready for The Longevity Revolution?

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Sometimes a whole crate of birthday candles might not be enough.

Americans are living longer than ever, with the average life expectancy now rising to about 79 years. Some have referred to this trend as the "longevity revolution," but it's also creating a revolution in the way people think about retirement.

"What worked for retirees a generation ago isn't going to work today," says Jack Teboda, president of Teboda & Associates, a financial services firm.

Free Tax Help Returns to Lamar Community College

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Lamar Community College students to provide free tax preparation to area families

This tax season, Lamar Community College is partnering with Denver-based Piton Foundation to help hard-working families become more financially secure by providing free tax preparation services through the Tax Help Colorado program. Beginning February 2, 2018, IRS-certified LCC students will prepare and file tax returns free of charge for individuals with household incomes of less than about $54,000 a year.

Personal Finance – Spend Less and Give More this Holiday Season

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If you've already finished your holiday shopping - probably last year during the after-Christmas sales - congratulations (or "bah!" depending on you outlook). For the rest of us, the shopping season that starts Friday can be stressful - and the bills that start to roll in next January are even worse.

Before you leave the house to face the buying frenzy, take a few minutes to prepare yourself - and your wallet.