Archive for the ‘Blog Posts’ Category

You Prepare Your Own Taxes?!?

You Prepare Your Own Taxes?!?

By The Banker | Blog Posts

You prepare your own taxes?!? Are you insane? I ran into a friend at the local coffee place recently. She made the mistake of mentioning that her husband prepares their household taxes, by himself. “What?  Is he insane?” “I know, seriously, I keep telling him not to.” Dear friend, don’t do this to yourself. I [&hellip

Your Traditional IRA Contribution: The 2012 Infographic

Your Traditional IRA Contribution: The 2012 Infographic

By The Banker | Blog Posts

Want to figure out your tax-deductible 2012 contribution? Let Bankers Anonymous guide you through the process of figuring it out. What could be easier than this? Please see related post: You do your own taxes??! And please see related posts on the IRA: The Humble IRA IRAs don’t matter to high income people A rebuttal: [&hellip

The Do It Yourself (DIY) Movement and the IRA

The Do It Yourself (DIY) Movement and the IRA

By The Banker | Blog Posts, Investing, Personal Finance

Do it Yourself (DIY) exists for IRAs, although the Financial Infotainment Industrial Complex would prefer you not know this. Normally banks, brokerages, and mutual fund companies happily open your account and act as custodian of your retirement funds, secure in the knowledge that at the moment you invest you are likely to choose a bank, [&hellip

The Magical Roth IRA

The Magical Roth IRA

By The Banker | Blog Posts, Investing, Personal Finance, Taxes

Less than two weeks left to fund your 2012 IRA, so I’m continuing my series on these maddeningly humble, but potentially interesting, retirement accounts. But, to get caught up, please see earlier posts on The Humble IRA, IRAs don’t matter to high income people and A rebuttal: The curious case of Mitt Romney   The [&hellip

The Curious Case of Mitt Romney and the (up to) $100 Million IRA

The Curious Case of Mitt Romney and the (up to) $100 Million IRA

By The Banker | Blog Posts, Investing

Contradicting what I wrote in my previous post about IRAs being irrelevant to upper-middle class and wealthy people, we have the curious case of Mitt Romney, who reported in his 2010 tax returns an IRA worth between $20 million and $100 million.  At that level of assets, I must acknowledge he’s the exception to my [&hellip