Some Birthdays Real Cause For Celebration
As much as you’d like to forget certain birthdays, there are some you need to take special note of so you can take advantage of certain financial benefits, according to the Institute of Certified Financial Planners.
Here’s a rundown of some of the biggies:
Age 55 - You can take a one-time $125,000 capital gains tax exclusion on the sale of your home, and you can begin making withdrawals from a company-sponsored retirement plan.
Age 59-1/2 - You can begin making withdrawals from any retirement plan or individual retirement account without incurring a 10 percent penalty.
Age 62 - the earliest age at which you can begin collecting your own Social Security benefits, although at reduced rates.
Age 65 - If you turn 65 before the year 2000, you can receive full Social Security benefits. (Between the year 2000 and 2027, the age at which you can begin to collect full Social Security benefits will shift to age 67.)
Web page lists internships
A new Web site has been launched that lists more than 2,000 paid and unpaid youth development summer and year-round internships.
The internships range from counseling youths in San Francisco to answering crisis calls in Chicago.
The site is the brainchild of the National Assembly, a Washington, D.C.-based nonprofit group that focuses on youth and careers.
For more information check the site at www.nassembly.org/.
Comparison shop on the Net
Comparison shopping just got easier.
Compare.net and US West Dex Internet Yellow Pages have teamed up to provide a service that lets you comparison shop, then find local dealers that carry products such as consumer electronics, appliances and automobiles.
Compare.net, based in San Francisco, is a free interactive product comparison service on the Internet.
US West Dex Internet Yellow Pages is a nationwide resource for business and residential listings.
Check the site at www.compare.net/.
Reverse mortgage video offered
Many older homeowners are interested in reverse mortgages, which convert home equity into cash with no repayment for as long as borrowers live in their homes. To obtain a free 10-minute video on TransAmerica HomeFirst’s reverse mortgage program call (800) 538-5569.
The American Association of Individual Investors last week launched a comprehensive World Wide Web site to offer investors a broad range of education and research.
The site is divided into eight education areas: investing basics, financial planning, mutual funds, stocks, fixed-income investments, other investments, portfolio management, and broker issues.
The Internet address is: http://www.aaii.com
The site is free and open to the public for the next two months. (After that, the archives will be available only to AAII’s members.)
The AAII is a nonprofit investment-education group. For more information, write: AAII, 625 North Michigan Ave., Chicago, Illinois 60611.
Brochure helps foreign travelers
Citibank is offering a free brochure called “Customs, Currencies & Credit Cards” to help prepare consumers for international travel. Tips include how to prevent financial fraud, and where to turn to for help. For a free copy call (800) 669-2635.