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Smart money/Coming Soon

Financial Listening, 401(k) Fee Disclosures, Foreclosure Tax Implications

Each day, One Day Closer provides the articles from across the worldwide web that help you move one day closer to a sound financial situation, a retirement you always envisioned, a safe and secure financial future for you and your family. This will be added to throughout the day with important articles.

Quote of the Day:
Age is only a number, a cipher for the records. A man can't retire his experience. He must use it.
-Bernard Baruch

Articles of the Day:
You can get a tax rate like Mitt Romney...and you may already be there and don't even know it.   http://bit.ly/xpk0Qp

A word to the wise for financial planners: Do your job! This Forbes article illustrates some problems and the delicate solutions. http://onforb.es/ycAfbw

Who would have thought...listening is the key to success! The more you listen the better advice you can give. http://bit.ly/zOyBnG

Feds have released the final rules on 401(k) fee disclosure. This Wall Street Journal article details the rules. http://on.wsj.com/wS2Uki

The IRS has boosted its special identity theft enforcement efforts. Find out more about them here. http://1.usa.gov/xPRYNB

There are substantial tax implications for foreclosures. SmartMoney delves into the topic in this article. http://sm.wsj.com/A03wxk

Here is a list of 5 things you should do if you want to retire in 2012. http://sm.wsj.com/ytW5qT

This MarketWatch article unravels the mystery of 401(k) disclosures. http://bit.ly/x8jIGb

This article shows you how to check your tax refund status and when it will be deposited. http://bit.ly/xVmpeX

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Mailbag

Thursday's Slott Report Mailbag

Consumers: Send in Your Questions to mailbag@irahelp.com

Q:
Is a monthly retirement check considered income in order to open a Roth IRA?

A:
An IRA contribution must be based on the taxable compensation of the individual for the year of the contribution. Pension, profit sharing or IRA distributions are not considered compensation for the purpose of a contribution to an IRA. Here is a Q&A article we did on Roth IRA and IRA contributions.

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