| Easing The Bite Of 401(K) Contributions
WE ALL KNOW we should be contributing as much as we possibly can to our 401(k)s. There's really no excuse not to. No matter how well you do with your other investments, you're unlikely to beat the 401(k)s advantages of tax-deferred growth and a company match. The bottom line: Max out. So why don't we do it? Well, we've got tuition bills, car-loan payments, credit-card debt, medical bills, mortgages, etc., etc., etc. Fact is, most of us really don't want to see our paychecks shrink any further even if it's going to give us a more comfy retirement. That's why we developed this 401(k) contribution calculator. If you really crunch the numbers, the results may pleasantly surprise you. What most people don't realize is that increased contributions usually mean lower federal and state income taxes.
Payday loans have benefits, risks
Judy Killion of Garden City said she wanted to pay her electric bill so she wouldn't be left in the dark. Her daughter, Amber Zahnter, also of Garden City, said she wanted to pay rent and utilities but was having a hard time meeting those obligations. Neither said they expected a loan from a payday or auto title lender would lead them further into debt. Killion said her problems began in 2000 when she was living in a trailer at Meadow Lark. Her electric bill was higher than normal -- $300 -- and she didn't have the money. Friends told her about payday loans. Killion borrowed $200 from Check Into Cash, which now does business as Ace Express, and a $100 loan from Money Lenders, which is no longer in business. She said the lenders explained the contract to her and answered her questions regarding the loan, but she wasn't aware of late fees and the companies didn't mention them.
We have to stand apart
One of the key principles outlined in our handbook is that our journalists must not have any association, or engage in activities, that could reasonably give rise to perceptions of partiality. On the surface, this seems like a straightforward rule. But in the heat of the journalistic hunt, I can understand how it can sometimes be overlooked. This has not been an easy decision. Our audiences want us to bring them "inside knowledge." As their delegates in the press gallery, we get a front-row seat at a drama they can only watch from a distance. What's more, I am convinced that the Canadian public is sophisticated enough to realize it is well served by the intense and proper competition for news scoops that exists at every parliamentary, legislative and municipal bureau across the country.
Commerce Bank's profit slips 47%
CHERRY HILL, N.J. (AP) -- Commerce Bancorp's profit tumbled 47 percent in the fourth quarter as a book of loans to real estate developers soured amid flagging property values, the bank said. Commerce Bank earned $33.4 million, or 17 cents per share, in the fourth quarter, compared with $62.8 million, or 32 cents per share, in the fourth quarter of 2006. Analysts expected profit of 30 cents per share, according to a Thomson Financial survey. Profit from lending climbed 14 percent to $370.7 million. The bank's portfolio also grew 14 percent, to $17.64 billion. However, Commerce said the credit quality in its portfolio weakened, forcing the bank to set aside $55 million to cover bad loans. The provision is more than five times bigger than the reserve established in the fourth quarter of 2006.
Pudding picks Walken, Theron
The former first daughter, who's 27 now and employed as a hedge fund executive, is visiting college campuses in several states where the race among Democratic candidates Clinton, Barack Obama, and John Edwards is considered close. . . . Meanwhile, former Sox center fielder Johnny Damon showed up in Florida this week at a rally for Republican presidential hopeful Rudy Giuliani. Not to be outdone, Curt Schilling continues to shill for John McCain. Writing this week on his blog - 38pitches.com - the Sox pitcher implored people to vote for the Arizona senator, but also had a kind word for Obama, whom Schill called "the other person of unparalleled character in this upcoming election." This year's model Turns out Tom Brady isn't the only Super Bowl combatant who'll have a supermodel sweetheart cheering him on.
CBA overhauls NetBank, website
THE Commonwealth Bank has upgraded its online banking service NetBank after customer feedback as the big banks try to push more services online. The bank’s online banking service NetBank has been revamped with a new homepage and links to finance tools, with the changes to go live on Saturday. "NetBank …features an improved home page, simpler short cuts, customer news bulletins and links to useful tools such as budget planners and a home loan calculator," Ross McEwan, CBA group executive, retail banking services, said. "We started the ball rolling six months ago with the introduction of two-factor authentication for NetBank to deliver safer and more secure online banking." CBA has simplified the navigation process on its homepage and boosted the search function on the website.
DAVID LEASK and DOUGLAS FRASER
The research represents a vital contribution to a debate over whether Scotland should take on more tax-raising powers or become independent. Our findings come amid a growing clamour from English politicians and the London-based media to curb Scotland's £26bn spending grant from the Treasury. But, as The Herald shows, much of this mischief is based not on facts but a series of myths, mistakes and misconceptions. .
Lowe guilty of ignoring financial realities of relegation he presided ...
The following is from a Daily Echo comment story which appears in today's newspaper ... EIGHTEEN months down the line, and the words "Rupert' and Lowe' are still guaranteed to spark furious debate among Saints fans. Saints can lose 5-0 away and the Daily Echo website can attract 50 or 60 comments; Lowe speaks publicly and there's almost 100. Sadly, that says a lot about the situation at St Mary's in recent years. The off-field politics of the club have deflected attention away from events on the pitch. Fans know as much about the current and former directors as they know about George Burley's squad. Lowe, in his radio interview the other night, was deflecting attention away from himself by naming individuals who should be answering tough questions.
IRA, loan payments are equally good options
Question: I am a graduate student. I have two modest loans - one is at a 7 percent interest, whereas with the other, the government is paying the interest until I get out of school. I've got an extra $200 each month that I can use toward retirement or paying down my loans. Which option is best?
Answer: Your IRA contributions are tax-deductible, but so too are your student-loan interest payments. So either way, whether you fund the IRA or keep paying interest on the student loans, you get a comparable tax break.
With taxes out of the picture, your decision comes down to a comparison of the student-loan interest rate to the potential return on your IRA investments. Because you'll be investing for retirement, which is decades away for you, your time horizon is long enough to focus largely or almost entirely on stocks.
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