Past Seminar: September 14, 2010
Using Roth IRA’s for Fun and Profit
| Date | Tues, Sept 14, 2010 at 7pm |
| Location | Blankspaces 5405 Wilshire Blvd, Los Angeles, CA 90036 (323) 330-9505 |
| Speaker | Edwin Choi, Founder, Mariposa Capital Management |
Whether you’re just starting to invest or you’ve already accumulated a sizable nest egg, using Roth IRA’s can be a smart investing and tax move. And starting this year, Roth IRA conversions are allowed for everyone, making them even more interesting. Come learn how to use Roth IRA’s the smart way to improve investment returns and save on taxes.
Saving for College with 529 Plans
From the May 2010 newsletter:
529 plans are one of the easiest ways to save for your child’s college education. Investment earnings are tax-free as long as withdrawals are used for qualified college expenses. And unlike other options, there are no income or age restrictions. There are two main decisions when opening a 529 account: which 529 plan to use and which investments to buy.
Although there are 529 plans sponsored by each state, you can open an account with a plan in any state. The main factors in selecting a 529 plan are: state tax benefits, expenses, and investment options. To keep your expenses low, the direct-sold plans (CA, NY, NV, etc) are your best bets.
3 Money Tips for Entrepreneurs
From Blankspaces’ June newsletter:
So you’re working on the next great Web 2.0 startup, or you’re finally shedding your corporate past to work for yourself. You spend all your free time thinking about your business, how to get more clients, and even dabbling in SEO. Well, let’s take a few minutes to make sure your financial house is in order. Here are 3 simple money tips for entrepreneurs, self-employed workers, or anyone going through a career transition.
1. Don’t invest your rent money
If your income is not stable yet and you expect to dip into savings to pay rent or other living/business expenses, that money should not be invested in the stock or bond market. Any savings you expect to use within a year or two should be in very safe, “cash” investments. We’re talking about the boring stuff here: savings accounts, CDs, and money market funds. You’ll need the money soon, don’t gamble it away.
Tips for Giving to Charity
It’s getting close to the end of the year, so you are probably considering donating to charity. Here are some quick tips for giving to charity.
Check your charity’s financials. All nonprofit organizations, except for churches, are required to file basic financial forms with the government. The two data points I always look at are executive compensation and percentage of expenses that go to programs. You can find this data for free on GuideStar, which stores Form 990s for all major charities. Charity Navigator also rates charities according to their own criteria.
Donate appreciated investments. If you plan on donating money, consider donating appreciated investments in taxable accounts instead. If you donate investments such as stocks, mutual funds, and ETFs, you avoid paying capital gains tax on the donated shares. Further, your income tax deduction will be based on the full market value of the donation, not the cost basis.
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