By Jonathan Spicer and Jason Lange WASHINGTON (Reuters) - The U.S. Federal Reserve on Wednesday announced a further $10 billion reduction in its monthly bond purchases as it stuck to a plan to wind down its extraordinary stimulus despite recent turmoil in emerging markets. Fed Chairman Ben Bernanke, who hands the central bank's reins to…Read more
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It looks like the Senate leaders are finally getting close to ending the two week long government shut down and once again increasing the nations debt ceiling. While the government shutdown has only affected about 15% of the operating government programs, it's put a big black eye on bickering members of the Senate. The media…Read more
President Obama unveiled a plan today that is aimed to make college costs more affordable. The plan, he says, will rate colleges on the value they provide for the money students spend, and then tie those ratings to Federal student aid. The plan would also include provisions allowing those paying off student loan debt to limit…Read more
Get ready to save some more money! For the second year in a row, the IRS has increased the 401K contribution limit by $500. In 2013 the 401K contribution limit will be $17,500, pre-tax. For 2012 the limit was $17,000, pre-tax. Of course, your 401K contributions come out of your paycheck before you have taxes taken out. This…Read more
There are some major changes ahead for Medicare supplement and Medicare Advantage plans. Under the Affordable Patient Protection and Affordable Care Act, hundreds of billions in scheduled cuts to Medicare Advantage subsidies are scheduled to take effect in 2013. However, the Department of Health and Human Services recently announced that it will be $8.3 billion…Read more
Ben Bernanke announced today that QE3 (Quantitative Easing 3) would be an open-ended round of buying mortgage securities and keeping rates between 0% and 0.25% through mid-2015. This move is the biggest and boldest of all the easing the committee has done yet. Unlike QE1 and QE2 where there were limits set to how much…Read more
One headline for the August jobs report today read, "US economy added 96,000 jobs in August and the unemployment rate fell to 8.1%". Well that sounds pretty good, until you look deeper into the numbers to see what it really meant. Economists were expecting 125,000 new jobs in August which would have been much better.…Read more
It is not well known that many 401K plans can be expensive for investors to keep money inside of. Most employees never see the real cost of owning mutual funds through their 401K, and in fact, most people think of it as a FREE benefit from their employer. This is completely understandable since your employer is often matching…Read more
Recent Comments by Turning Point
- November 18, 2010 on Why Do I Need A Will, Living Will and POA?
- October 25, 2010 on The CLASS Act – More Taxes on The Way
- October 25, 2010 on Consider State & Local Taxes Before Taking Capital Gains
- October 25, 2010 on 2010 Gift Tax Limit
- October 25, 2010 on Will My Taxes Go Up In 2011?