Welcome to Harmoney

Thank you for being in communication with us here at Harmoney. I appreciate you telling me that you have missed me on the radio. I, too, miss being on the radio. I am not currently being heard live on the radio as I am seeking a more productive way to reach more people in my personal endeavor to provide financial freedom and peace of mind to everyone. I intend to return to the radio or appear via another media form sometime within the next year. I will keep you posted by email as to where / when that will happen, and if you have any suggestions for me, please feel free to send them in as I am considering all avenues. It's the listening and support of people like yourself which provide me with learning and experience. This improves what I can offer to everyone, yourself included, in the future. Again, many thanks.

Mark Rothstein, CEO Harmoney Financial Email Mark

Mr. Money's Mojo

     "Introducing Mr. Money's 5 Minute VLOG"

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Figuring gains for losses on stock splits

Q. A company in which I own stock declared a 50-percent stock split, an action increasing the number of my shares from 200 to 300. I plan to keep 150 of the post-split shares and sell the other 150. The original investment cost me $3,000. How do I figure my cost for the shares I sell?

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10 Tips to Building Your Retirement Nest-Egg

One of the main worries most Americans have is will they have enough saved when they hit retirement. Two things are for sure, you want enough money to live a comfortable lifestyle and you don't want to run out of money. Here are 10 tips that can help ease your mind if followed:

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Reverse Mortgage Issues

WASHINGTON -- If you want to understand just how toxic a home mortgage can get, consider this real-life, ongoing saga:

Katherine Stephens is a 94-year-old widow, now living in a nursing home in southern New Jersey. According to her nephew, William Finch, she has $38 in her bank account. Monthly Social Security checks pay only a small portion of her nursing home bills.

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Checklist for selecting your financial professional

Here are some questions to ask:
• What is the professional's education and experience?
• What do you expect the professional to help you with?
• What fees or other costs can you expect?

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How to Save on Auto Insurance

To cut auto insurance costs: Take the highest deductible you can afford. A $1,000 deductible may reduce the cost of collision and comprehensive insurance by as much as 40%...Drop collision and comprehensive coverage when the value of a car is less than 10 times the premium.

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Putting money into retirement plans

Qualified retirement plans and IRAs offer a tax-advantaged way to save for your retirement and provide substantial wealth for subsequent generations. Today, if you work, you probably have some type of retirement plan-company sponsored or your own IRA, or both. You can even provide an IRA for a nonworking spouse. And new tax laws allow those age 50 and older to save additional amounts.

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You Still Need a Will

A recent survey found that only 42% of adults in the US had wills in 2004, down five percentage points from 2000. Many experts think this is because some people believe recent changes in the estate tax law mean they will owe no tax, so they don't need a will. Others believe additional scheduled changes in the law make it pointless to have a will before they are enacted.

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Retirement Plan Loophole

Little-known retirement plan loophole: Employees of schools and nonprofit organizations can transfer from an employer's 403(b) retirement plan-similar to a 401(k)-to a self-directed 403(b) plan tax-free under an obscure IRS ruling (Revenue Ruling 90-24). Many employer 403(b) plans offer limited investment choices (usually fixed or variable annuities), high fees and mediocre performance. In 1990, the IRS ruled that the transfer of all or part of a 403(b) to a self-directed 403(b) would not be treated as a taxable distribution even for those under age 591Ú2.

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How a Health Savings Account Can Save You Money

Inflation might be around 3% per year on average, but that's certainly not true for health insurance. In 2004, employer-sponsored health insurance premiums rose by 11.2%, the fourth straight year of double-digit increases, and this streak likely will be extended.

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Why should I review my credit report?

Reports frequently contain errors that can hinder your ability to apply for a loan, sign a lease, etc. A careful review will insure that all the information is correct. Check for old accounts that are still open and for occasions when a creditor reported you for paying late or not at all. Once you see what data is shown to lenders, you can take the necessary steps to fix your credit.

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If I get married, will I become responsible for my spouse's debts?

By marrying, you do not assume responsibility for any debts incurred before marriage. However, you will be responsible for half of the debt incurred during the marriage, unless you specify otherwise in a pre-nuptial agreement.

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What is diversification?

Diversification is selecting multiple investments within a single portfolio. By maintaining a diversified, varied portfolio, you are helping to minimize risk. You may be less likely to make a big killing, but at the same time, when an individual investment craters, your portfolio will better be able to absorb the loss.

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