401(k): match or no match?

With current market upheavals, worsening job data, housing in turmoil; just to name a few, 12% of large employers have cut 401(k) match or completely eliminated it. One may be asking if its still good to contribute even though your employer will not match it. Answer is simple: YES!!!!!
- 401(k) still has advantages of long-term [...]

Stressssssssss Test

Tick Tock…..Friday…….on April 24th, regulators will start informing banks about how well they did in government-performed “stress test” – these results will be announced to public one week later. Findings will definitely show which banks may be fine and which ones will need additional capital, let it be from private sector or the Treasury Department. [...]

Economic Calandar for 04/22/2009

7:00 MBA Mortgage Applications
10:00 Ofheo House Price Index
10:30 EIA Petroleum Status

FDIC Officials Discussed Citi CEO’s Future

Vikram Pandit Out! Gary Crittenden in! Gary, CFO of Citi Group is the possibly the potential pick to take on the new position. FDIC Officials has released a report that if Citi needs additional government aid it will force the current CEO out just like how the government did to GM a couple of weeks [...]

Late OS Delivery

FINRA has fined Edward D. Jones & Co., LP $900,000 for company’s failure to timely deliver official statements to customers who purchased new-issue municipal securities and also for supervisory and record keeping rules.
Under current MSRB rules, broker-dealers that sell new issues of municipal securities are required to deliver OS to the customer on or before [...]

Economic Calandar for 04/21/2009

7:45 ICSC Retail Store Sales
8:55 Redbook
9:00 Bank of Canada Announcement
10:00 Geithner testifies on TARP
10:00 State Street Investor Confidence Index
5:00 PM ABC Consumer Confidence Index

US May Convert Banks’ Bailouts to Equity Share

Obama’s administration is considering converting the bailout funds that was given to banks from the TARP program to common shares. They believe they can recycle the same funds without asking congress for more through the conversion. However, many critics are saying that the government is having too much control over private enterprise and is leading [...]

New Podcast: FACT Act Red Flags Rule

New podcast is available through FINRA’s website.
Click here to view podcast

Economic Calandar for 04/20/2009

8:30 Chicago Fed National Activity Index
10:00 Leading Indicators

Notes on IRAs

Q1. Can we borrow from an IRA? With no penalty?
A: In order to withdraw funds from our IRA and do it penalty fee we must roll over these funds/positions into new IRA within 60 days. Note we can only do this process once during a 12mo period.
Q2. Can we have more than one IRA?
A: [...]

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