| Retirement Investing. Use Your IRA or 401K To Invest In Condotel ...
Beth Collingz, PLC International Marketing Director for the Lancaster Brand of Condotels in the Philippines, recently announced that now investors can use their IRA to invest in Real Estate, collect rents and watch their investments grow tax-free or tax-deferred. Historically, real estate has provided many Americans with a stable investment vehicle that provides both income and appreciation. One of the greatest tools available to real estate investors is government-sponsored retirement plans, such as IRAs. Very few Americans realize that they have the option to self direct their IRAs and other retirement plans into real estate. Most investors believe that their only IRA investment options are bank CDs or the stock market and mutual funds, not real estate. If you currently are a successful real estate investor, or are just looking to diversify your retirement portfolio, the combination of real estate and your IRA can be very powerful.
Delay retirement to clear out credit-card debt
Dear Bruce: I am a 66-year-old single female who has been living beyond my means for several years. I find myself $26,000 in credit-card debt, and I want to pay this off before I officially retire. I took an early-retirement package from my previous job, which gave me $200,000 to put into my 401(k). I transferred these funds to an IRA, where it is invested and growing, but I seem to need to draw on it every year because of my out-of-control spending. I earn $43,000 annually at my present job, and I am putting away 5 percent of my earnings in a separate 401(k) account, which is up to $12,000 at this point. I own my own condo, which is a co-op, where I purchased one share in a 120-unit complex (government mortgage) and pay a maintenance fee of $550 a month. The condo association pays all expenses, except cable and telephone.
Tax warning letters sent in error
Her Majesty's Revenue and Customs has sent 4.7 million letters to taxpayers about their National Insurance contributions during the tax year 2004-5. The letters, sent out over a period of 20 weeks, go on to warn that state pensions could be at risk from the underpayments. Although the majority of the letters are genuine, the Revenue has admitted some have been printed erroneously. No contributions Working Lunch viewer Mike Glew and his wife both received letters stating they had made no contributions during the 2004 tax year. "This was completely wrong as we have both worked throughout the year", he told the programme. Mike was informed by Revenue & Customs it might take up to three months to sort out the error, and to call back then to double check.
Board grants New Haven officer his pension, city officials outraged
(New haven-WTNH) _ The Police and Fire Pension Board of New Haven has decided to grant former Lieutenant William White his pension while also making it retroactive to March 15, the date on which he filed the necessary paperwork. The decision was handed down in a morning hearing held by the board. It contradicts the April 4 Police Board of Commissioners' decision to terminate White after he was arrested on March 12th by the F.B.I. for stealing government funds. The City's General Order 89-2 states that an officer's retirement is not official until it is accepted by a pension governing body. The board claims White retired on March 15th and was therefore ineligible for termination on April 4. In a statement released today, Labor Relations Director Emmet Hibson said: "The city will not recognize a retirement for White on the 15th.
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