|
TurboTax Business Federal + efile 2009 |  | From: Intuit
Category: Software
List Price: $109.95
Buy New: $69.98
as of 7/28/2010 16:20 CDT details
You Save: $39.97 (36%)
New (6) from $69.98
Seller: slaminhooop
Rating:  32 reviews
Sales Rank: 201
Format: CD-ROM
Platforms: Windows Vista, Windows 7, Windows XP
Media: CD-ROM
Autographed: No
Memorabilia: No
Batteries Included: No
Operating System: Windows 7
Shipping Weight (lbs): 0.1
Dimensions (in): 7.5 x 5.3 x 0.7
MPN: 410677
Model: 410677
UPC: 028287025516
EAN: 0028287025516
ASIN: B002RS8FBE
Release Date: November 23, 2009
Availability: Usually ships in 1-2 business days
| |
| Features:
| | TurboTax Business includes everything you need to complete your business income taxes | | | Expanded interview guides you step-by-step to help ensure accuracy and maximize business deductions | | | Creates W-2 and 1099-MISC forms for your employees and contractors | | | Audit alerts flag potential IRS audit triggers | | | Free Federal E-File—receive IRS confirmation |
|
| Similar Items:
| |
| Editorial Reviews:
Product Description
Intuit TurboTax Business for Tax Year 2009 Retail with Federal E-File for Windows Small box, Slim DVD. With TurboTax Business, you don't need to know a thing about business taxes. Its customized interview tailors itself to your type of business (corporation, partnership, or multi-member LLC) and provides extra guidance to simplify tax preparation and help you maximize tax savings. Just answer simple questions and let TurboTax do the rest.
Amazon.com Product Description
If you have a corporation, partnership or multi-member LLC, TurboTax Business will maximize your business tax deductions.  Get Your Refund Fast: Efile Your 2009 Taxes with TurboTax
Here's how efile works: Start your return and efile with TurboTax today. The moment the IRS starts accepting returns, scheduled for January 15, 2010, TurboTax will submit your efiled return. The IRS will confirm receipt by e-mail within 48 hours. | Here's how it works: Asks easy questions about your business
Asks you questions in plain English, then puts your info on the right business tax forms for you Maximizes business deductions
Maximizes business deductions for vehicles and supplies, and helps you find more write-offs by industry Provides Fast IRS Confirmation
Efile included. Federal efile is now included with TurboTax Business. Why TurboTax Business is the easiest choice for you TurboTax Business is the do-it-yourself business tax software you've been looking for. Now you can complete your business taxes on your schedule--and save money doing it. TurboTax Business covers your federal business tax return for: - Multi-Member LLCs (Form 1065)
- Partnerships (Form 1065)
- S Corporations (Form 1120S)
- C Corporations (Form 1120)
- Estates and Trusts (Form 1041)
TurboTax Business works best if your small business: - Is an S Corporation, C Corporation, partnership, or multi-member LLC
- Has revenue of less than $250,000
- Has fewer than five employees
Sole proprietors, consultants, 1099 contractors: use TurboTax Home & Business. After you do your business taxes, you'll also need a TurboTax personal tax preparation software product. We recommend TurboTax Deluxe. Compare TurboTax Software 
It's easier than ever to do your own business taxes. Knows Your Business and Does the Hard Work for You With TurboTax Business, you don't need to know a thing about business taxes. Its customized interview tailors itself to your type of business (corporation, partnership, or multi-member LLC) and provides extra guidance to simplify tax preparation and help you maximize tax savings. Just answer simple questions and let TurboTax do the rest. Imports Your QuickBooks Data
Saves you time and retyping and helps ensure accuracy. You can use your QuickBooks1 tax-ready data to easily import your Profit and Loss statement. If your chart of accounts is not tax ready,2 TurboTax automatically imports your QuickBooks income and expense accounts and classifies them in the appropriate tax categories that you can edit. Simplifies Entering Income and Expenses
Speeds you through entering all your business expenses, no matter how you track them. If you have a Profit & Loss statement, TurboTax streamlines data entry so you can quickly enter all your income and expenses. If you track expenses manually, TurboTax gives you all the guidance you need to ensure you've covered all income sources and expense categories. Even Easier for Returning Users
Saves time by transferring last year's data, including all depreciable assets, to your 2009 TurboTax Business return. A new year-over-year comparison to last year's return provides extra guidance. Creates W-2 and 1099-MISC Forms
Helps you prepare forms for employees and contractors. Does all calculations and prints on plain paper--no need for special-colored-ink forms. There's no limit on the number of forms you can prepare. Handles Multiple Businesses
Lets you prepare returns for multiple businesses, even if they are different entity types. Provides extra guidance for entering multiple businesses. Includes Extra Guidance for New Businesses
Shows which start-up costs new businesses can deduct. Makes State Business Taxes Easier, Too
No retyping necessary! Transfers your federal data to TurboTax Business State3 so you can complete your state return quickly, easily and with greater accuracy. Federal Efile Included
Federal efile is included with TurboTax Business. It's easier and more accurate than paper filing and is the IRS's preferred filing method. Maximizes Business Deductions to Help You Save Helps You Get Every Business Deduction You Deserve
Shows you what business expenses you can deduct including: - Vehicle Expenses: Shows you whether you'll get a bigger refund using actual expenses or the standard mileage rate. Provides extra help for splitting vehicle expenses between business and personal use.
- Supplies: Your paper, ink, postage, staples, CDs, coffee, and more can add up to big savings.
- Large Purchases (Assets): Tells you if you should fully deduct equipment this year or if you need to depreciate.
- Promotion and Advertising: Learn how to deduct expenses like brochures, business cards, web sites, and sponsorships.
- Travel: Tells you when (and how much) you can deduct for meals, airfare, taxis, hotels and more.
Identifies Industry-Specific Deductions
Walks you through typical deductible expenses by industry to help you spot commonly overlooked deductions. Simplifies Asset Depreciation
Reviews your large purchases (assets) and helps you determine the most advantageous, tax-saving strategy for your assets. Then guides you through calculating and reporting depreciation. Provides Support and Guidance Each Step of the Way World-Class Help Built Right In
Provides FAQs, tax topic videos, easy-to-follow tips and how-to's, troubleshooting articles, government instructions, and IRS publications, so you can get the answers you need every step of the way. 24/7 Support Web Site
Easily search the TurboTax.com Support knowledge base for answers to your specific questions, 24 hours a day, 7 days a week. FREE Technical Support
Got a software question? No problem! Get answers from a TurboTax expert via e-mail, phone or live chat. Also Available: Live Tax Advice
Offers one-on-one, live support from highly qualified tax professionals, skilled at answering questions specifically related to federal tax law. Additional charges apply. Helps Reduce Audit Risk Accurately Calculates Your Taxes, Guaranteed
Does all the math for you and we guarantee its accuracy. Chances are slim, but if you should get hit with an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest. Checks Your Return for Errors
Double-checks your return for accuracy and completeness and helps you fix any errors before the IRS spots them.You can be confident your taxes are done right. Alerts You to Audit Red Flags
Points out deductions and tax situations that may increase your risk of an IRS audit. Also Available: Audit Defense
Provides full-service representation by a trained tax professional. You will never have to meet with the IRS, unless you want to. TurboTax Business Includes These Tax Forms TurboTax Business takes the worry out of deciding which forms you need to file. Just answer simple questions and TurboTax Business fills out the right forms for you. Partnership (1065) Schedules and Forms
| Schedule C | Additional Information for Schedule M-3 Filers | | Schedule D (Form 1065) | Capital Gains and Losses | | Schedule F | Profit or Loss from Farming | | Schedule K-1(Form 1065) | Partner's Share of Income, Deductions, Credits, etc. | | Schedule M-3 (Form 1065) | Net Income (Loss) Reconciliation for Certain Partnerships | | Form TD F 90.22.1 | Report on Foreign Bank and Financial Institutions | | Form 1065 | U.S. Return of Partnership Income | | Form 2848 | Power of Attorney & Declaration of Representative | | Form 3115 | Application for Change in Accounting | | Form 3468 | Investment Credit | | Form 4562 | Depreciation and Amortization | | Form 4684, p2 | Casualties and Thefts, Business and Income-Producing Property | | Form 4797, p1 | Sales of Business Property | | Form 4797, p2 | Gain from Disposition of Property | | Form 5884 | Work Opportunity Credit | | Form 5884A | Credits for Affected Midwestern Disaster Area Employers | | Form 6252 | Installment Sale Income | | Form 6478 | Credit for Alcohol Used as Fuel | | Form 6765 | Credit for Increasing Research Activities | | Form 6781 | Gains and Losses from Sec. 1256 Contracts and Straddles | | Form 7004 | Application for Automatic 6-Month Extension of Time to File Certain Business Income Tax, Information, and Other Returns | | Form 8283 | Noncash Charitable Contributions | | Form 8308 | Sale or Exchange of Partnership Interest | | Form 8453-PE | U.S. Partnership Declaration for an IRS e-file Return | | Form 8586 | Low-Income Housing Credit | | Form 8594 | Asset Acquisition Statement | | Form 8609A | Annual Statement for Low-Income Housing Credit | | Form 8822 | Change of Address | | Form 8824 | Like-Kind Exchanges | | Form 8825 | Rental Real Estate Income and Expenses of a Partnership or an S Corporation | | Form 8826 | Disabled Access Credit | | Form 8832 | Entity Classification Election | | Form 8835 | Renewable Electricity, Refined Coal, and Indian Coal Production Credit | | Form 8846 | Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips | | Form 8850 | Pre-Screening Notice and Certification Request for the Work Opportunity Credit | | Form 8861 | Welfare-to-Work Credit | | Form 8881 | Credit for Small Employer Pension Plan Startup Costs | | Form 8893 | Election of Partnership Level Tax Treatment | | Form 8894 | Request to Revoke Partnership Level Tax Treatment Election | | Form 8903 | Domestic Production Activities Deduction | | Form 8910 | Alternative Motor Vehicle Credit | | Form 8916A | Supplemental Attachment to Schedule M-3 | | Form SS-4 | Application for Employer Identification Number | C Corporation (1120) Schedules and Forms
| Schedule B | Additional Information for Schedule M-3 Filers | | Schedule D (Form 1120) | Capital Gains and Losses | | Schedule M-3 (Form 1120) | Net Income (Loss) Reconciliation for Corporations with Total Assets of $10 Million or More | | Schedule N | Foreign Operations of U.S. Corporations | | Schedule 0 | Consent Plan and Apportionment Schedule for a Controlled Group | | Schedule PH | U.S. Personal Holding Company (PHC) Tax | | Form TD F 90.22.1 | Report on Foreign Bank and Financial Institutions | | Form 966 | Corporate Dissolution or Liquidation | | Form 1120 | U.S. Corporation Income Tax Return | | Form 1120-H | U.S. Income Tax Return for Homeowners Associations | | Form 1120-W | Estimated Tax for Corporations | | Form 1120X | Amended U.S. Corporation Income Tax Return | | Form 1139 | Corporation Application for Tentative Refund | | Form 2220 | Underpayment of Estimated Tax | | Form 2220 Sch. A | Adjusted Seasonal and Annualized Income Installment Methods | | Form 2553 | Election by a Small Business Corporation | | Form 2848 | Power of Attorney & Declaration of Representative | | Form 3115 | Application for Change in Accounting Method | | Form 3468 | Investment Credit | | Form 3800 | General Business Credit | | Form 4136 | Credit for Federal Tax Paid on Fuels | | Form 4255 | Recapture of Investment Credit | | Form 4562 | Depreciation and Amortization | | Form 4626 | Alternative Minimum Tax - Corporations | | Form 4684, p2 | Casualties and Thefts, Business and Income-Producing Property | | Form 4797, p1 | Sales of Business Property | | Form 4797, p2 | Gain from Disposition of Property | | Form 5884 | Work Opportunity Credit | | Form 5884A | Credits for Affected Midwestern Disaster Area Employers | | Form 6198 | At-Risk Limitations | | Form 6252 | Installment Sale Income | | Form 6478 | Credit for Alcohol Used as Fuel | | Form 6765 | Credit for Increasing Research Activities | | Form 6781 | Gains and Losses from Sec. 1256 Contract and Straddles | | Form 7004 | Application for Automatic 6-Month Extension of Time to File Certain Business Income Tax, Information, and Other Returns | | Form 8050 | Direct Deposit of Corporate Tax Refund | | Form 8283 | Non-cash Charitable Contributions | | Form 8453-C | U.S. Corporation Income Tax Declaration for an IRS E-File Return | | Form 8586 | Low-Income Housing Credit | | Form 8594 | Asset Acquisition Statement | | Form 8609A | Annual Statement for Low-Income Housing Credit | | Form 8801 | Credit for Prior Year Minimum Tax | | Form 8822 | Change of Address | | Form 8824 | Like-Kind Exchanges | | Form 8826 | Disabled Access Credit | | Form 8827 | Credit For Prior Year Minimum Tax - Corporations | | Form 8832 | Entity Classification Election | | Form 8835 | Renewable Electricity, Refined Coal, and Indian Coal Production Credit | | Form 8846 | Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips | | Form 8850 | Pre-Screening Notice and Certification Request for the Work Opportunity Credit | | Form 8861 | Welfare-to-Work Credit | | Form 8881 | Credit for Small Employer Pension Plan Startup Costs | | Form 8903 | Domestic Production Activities Deduction | | Form 8910 | Alternative Motor Vehicle Credit | | Form 8916A | Supplemental Attachment to Schedule M-3 | | Form SS-4 | Application for Employer Identification Number | | Form TD F 90-22.1 | Report on Foreign Bank and Financial Accounts | S Corporation (1120S) Schedules and Forms
| Schedule D (Form 1120S) | Capital Gains and Losses and Built-in Gains | | Schedule F | Profit or Loss from Farming | | Schedule K-1(Form 1120S) | Shareholder's Share of Income, Deductions, Credits, etc. | | Schedule M-3 (Form 1120S) | Net Income (Loss) Reconciliation for Certain S Corporations with Total Assets of $10 Million or More | | Schedule N | Foreign Operations of U.S. Corporations | | Form 966 | Corporate Dissolution or Liquidation | | Form 1120S | Income Tax Return for an S Corporation | | Form 2220 | Underpayment of Estimated Tax | | Form 2220 Sch. A | Adjusted Seasonal and Annualized Income Installment Methods | | Form 2553 | Election by a Small Business Corporation | | Form 2848 | Power of Attorney & Declaration of Representative | | Form 3115 | Application for Change in Accounting Method | | Form 3468 | Investment Credit | | Form 4136 | Credit for Federal Tax Paid on Fuels | | Form 4255 | Recapture of Investment Credit | | Form 4562 | Depreciation and Amortization | | Form 4684, p2 | Casualties and Thefts, Business and Income-Producing Property | | Form 4797, p1 | Sales of Business Property | | Form 4797, p2 | Gain from Disposition of Property | | Form 5884 | Work Opportunity Credit | | Form 6252 | Installment Sale Income | | Form 6478 | Credit for Alcohol Used as Fuel | | Form 6765 | Credit for Increasing Research Activities | | Form 6781 | Gains and Losses from Sec. 1256 Contract and Straddles | | Form 7004 | Application for Automatic 6-Month Extension of Time to File Certain Business Income Tax, Information, and Other Returns | | Form 8050 | Direct Deposit of Corporate Tax Refund | | Form 8283 | Non-cash Charitable Contributions | | Form 8453-S | U.S. S Corporation Income Tax Declaration for an IRS e-File Return | | Form 8586 | Low-Income Housing Credit | | Form 8594 | Asset Acquisition Statement | | Form 8609A | Annual Statement for Low-Income Housing Credit | | Form 8822 | Change of Address | | Form 8824 | Like-Kind Exchanges | | Form 8825 | Rental Real Estate Income and Expenses of a Partnership or an S Corporation | | Form 8826 | Disabled Access Credit | | Form 8835 | Renewable Electricity, Refined Coal, and Indian Coal Production Credit | | Form 8846 | Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips | | Form 8850 | Pre-Screening Notice and Certification Request for the Work Opportunity Credit | | Form 8861 | Welfare-to-Work Credit | | Form 8869 | Subchapter S Subsidiary Election | | Form 8881 | Credit for Small Employer Pension Plan Startup Costs | | Form 8903 | Domestic Production Activities Deduction | | Form 8910 | Alternative Motor Vehicle Credit | | Form 8916A | Supplemental Attachment to Schedule M-3 | | Form SS-4 | Application for Employer Identification Number | | Form TD F 90-22.1 | Report on Foreign Bank and Financial Accounts | Fiduciary (1041) Schedules and Forms
| Schedule C | Profit or Loss from Business (1041) | | Schedule D (Form 1041) | Capital Gains and Losses | | Schedule E | Supplemental Income & Loss (1041) | | Schedule F | Profit or Loss from Farming | | Schedule I | (Form 1041), Alternative Minimum Tax-Estates and Trusts | | Schedule J | Accumulation Distribution for a Complex Trust | | Schedule K-1(Form 1041) | Beneficiary's Share of Income, Deductions, Credits | | Form 56 | Notice Concerning Fiduciary Relationship | | Form TD F 90.22.1 | Report on Foreign Bank and Financial Institutions | | Form 1041 | U.S. Income Tax Return for Estates and Trusts | | Form 1041-A | Trust Accumulation of Charitable Amounts | | Form 1041-ES | Estimated Payment Vouchers | | Form 1041-T | Allocation of Estimated Tax to Beneficiaries | | Form 1116 | Foreign Tax Credit | | Form 1116 AMT | Foreign Tax Credit for AMT | | Form 2210 | Underpayment of Estimated Tax | | Form 2210 Sch. AI | Annualized Income Installment Method | | Form 3115 | Application for Change in Accounting Method | | Form 3800 | General Business Credit | | Form 4136 | Credit for Federal Tax Paid on Fuels | | Form 4255 | Recapture of Investment Credit | | Form 4562 | Depreciation and Amortization | | Form 4684, p1 | Casualties and Thefts, Personal Use Property | | Form 4684, p2 | Casualties and Thefts, Business and Income-Producing Property | | Form 4797, p1 | Sales of Business Property | | Form 4797, p2 | Gain from Disposition of Property | | Form 6252 | Installment Sale Income | | Form 7004 | Application for Automatic 6-Month Extension of Time to File Certain Business Income Tax, Information, and Other Returns | | Form 8582 | Passive Activity Loss Limitations | | Form 8594 | Asset Acquisition Statement | | Form 8801 | Credit for Prior Year Minimum Tax | | Form 8822 | Change of Address | | Form 8824 | Like-Kind Exchanges | | Form 8855 | Qualified Revocable Trust as Part of an Estate | | Form 8868 | Application for Extension of Time to File (1st Ext) | | Form 8903 | Domestic Production Activities Deduction | W-2/1099 Forms
| Form 1096 | Transmittal of Forms 1099 | | Form 1099-MISC | Miscellaneous Income | | Form W-2 | Wage & Tax Statement | | Form W-3 | Transmittal of W-2s Wage & Tax Statement | Choose Security. Choose TurboTax. TurboTax is dedicated to protecting your personal and financial information. From the most advanced technology to our dedicated Privacy Team, we have you covered. In fact, TRUSTe, the leading Internet privacy seal-of-approval, named Intuit as one of three Most Trusted Companies for Privacy for 2007. Our Site Is Tested Daily for Security
To support our commitment to protect your confidential data, the TurboTax Web site is tested and certified daily by the third-party McAfee HACKER SAFE Security Scan, an industry leader in Web site security. Only You Can Access Your Return
TurboTax Online requires a unique log in. Once you create your username and password, your tax return is guarded. Rest assured that you have complete control over who sees your personal information. TurboTax CDs and downloads store your information right on your computer. You can choose your own password to protect your personal information. Your Information Travels Safely
Your TurboTax session is secure. TurboTax Online shields your personal information from prying eyes while you're completing your return. TurboTax uses the same encryption technology used by banks to efile your return. This means that your information is protected from any unauthorized access while it's electronically sent to the IRS and state agencies. Our Commitment to You
Armed with surveillance cameras and security alarms, the TurboTax Security Team physically protects our computers and your information--24 hours a day, 7 days a week. Our Privacy Team's only job is to guard you and your information. If you feel the least bit uneasy, ask the Privacy Team about their commitment to your protection.
|
| Customer Reviews:
Showing reviews 1-5 of 32
 TurboTax Business July 3, 2010
James R. Lucas
The software is easy to use and can readily answer questions that you may have. It gives you the option of leading you through all the possibilities that could be entered into the forms or you can fill out the forms that you believe are correct.
 Disappointed June 25, 2010
Teri L Verhine (Acworth, GA United States)
We purchased this edition of Turbo Tax to complete our businesses returns. We have a corporation, LLC and a sole proprietorship. This edition will not work for the sole proprietorship, so we have to purchase yet another edition.
 Good But Could Be Better April 23, 2010
Tony Triolo (Athens, AL USA)
I have no complaints about the product itself. It seems to cover all the bases as far as filing a small business return. It's unfortunate that Turbo Tax makes a distinction between a single and multiple-member LLCs. If you have a single-member LLC, you can use the much less expensive Home and Business version but if you have a multiple-member LLC, you have to use the full-fledged Business version. Not only is it more expensive, but it doesn't even include the state program or forms. For that, you have to fork over yet another $50 to download the state portion of the program. You're almost to the point where seeking out the services of a CPA might just be worth the cost, saving you the time and frustration by doing it yourself. My biggest gripe though, is that fact that the program doesn't even link to any of Turbo Tax's personal federal tax products. None of the business information that you must report on your personal taxes transfers. You have to enter and compute all that data again such as Schedule E and Form 4562. It's a major pain. Even if you know the information to enter, TT forces you to complete the Schedule E worksheet or you cannot e-file. You are forced to snail-mail it to the IRS. It really makes no sense.
Turbo tax Business April 23, 2010
D. C. Baize
Great program. I love the Turbo tax programs!!! I would not know what to do without them. It is soooo much cheaper than going to a CPA.
 I hate doing taxes, but this helps April 20, 2010
Mother of Two (San Angelo, TX)
OK, I am like everyone else. I hate doing my taxes, but this product walks me through the process and has me answer questions to complete my forms. This is the second year I have used this product and I will say I am satisfied. The one thing I did not like was the e-filing with fax scan. I wanted to e-file my return, but do not have a scanner. I needed to sign a page and scan the document and attach the signed document to my e-file. Since I do not have a scanner they had a fax product where the I was supposed to be able to fax the signed sheet and then go onto a site and download the signed image. It never worked so I ended up mailing the return. Not a big deal, but I did want to skip the postage. Overall, I would recommend the product.
Showing reviews 1-5 of 32
|
| Worthwhile Reading | Retirees Face Serious Longevity Risk
By Shelby Smith
Longevity risk: the risk of outliving your money...that is, the risk of running out of money before you do breath. This is the number one fear of most retirees...and for good reason. Retirement can last thirty years or longer, is the time of life when very expensive medical emergencies may strike or a sudden meltdown of the market could rob you of your financial resources. When you add in the uncertainties of the shrinking purchasing power of your fixed savings caused by inflation, rising property taxes, lower interest rates and your inability to work, it is easy to understand by Longevity Risk is top-of-mind for most retirees. Not much we can do about inflation and taxes except use our votes wisely to selecting honest, caring political representatives. Health can be controlled somewhat by eating right, exercising and not abusing our bodies by excessive smoking and drinking. Not much we can do about being excluded from the labor market nor can we control the economic cycles and interest rates. In fact about the only thing we can control for certain is how much risk we take with our retirement money.
If you have your retirement money in a risky place like the stock market and there is a meltdown, you'll probably suffer a significant loss with no way and no time to make it up. In fact, if you lose your retirement money because you gambled in the market and lost, there will be no second chance...you'll be dependent on the government, your children or a welfare organization. Not a pleasant thought and probably the main reason most retirees say living longer than their money is their number one fear. Unfortunately, far too many retirees have not taken steps to reduce their investment risks by heading for the safe places. Why is that?
First, you're bombarded with advertisement, advice and promises that encourage you to keep your money in the market. You're told that 'longer term' you'll do a lot better with stocks, bonds, mutual funds, diversified portfolios and other risky investments than if you keep your money in safe places like bank CDs, government bonds and fixed annuities. You're presented with slick graphs and charts showing that here's how much better you'll do with your money at risk. The entire brokerage industry is dependent upon you to put your money at risk in the market and they're working very hard to make sure you do. You can't read a newspaper personal advice column, watch the news or read any of the thousands of magazines or newsletter devoted to investing without being told you'll be much better off by placing your retirement money with Wall Street for safe keeping. You're never reminded of the market meltdown of 2000-2003 or the early 1970's nor are you reminded that currently Wall Street is awash in losses from their profligate activities. The incessant calls from your broker are about how now is the time to buy at bargain prices. What about the losses you already have? You're scared into believing that unless you put your money at risk you'll not make a reasonable return. In fact, you're told that if you keep your money super safe you'll realize your greatest fear of outliving your money. The truth is, you're a lot more likely to outlive your money by taking risks you can't afford than you are keeping it super safe and earning an interest rate that goes with safety. Remember that risk and reward are always traveling companions: if you have a chance to make a big return, it is certain that you are taking risks of loss. On the other hand, if you take zero risk of loss, your earnings will be positive and certain but not above market. So which do you prefer: the possibility of great growth but also the possibility of great losses OR absolute safety and a low but certain return? As Will Rogers once said, 'I'm more interested in the return of my money than the return on my money'. I think Mr. Rogers had it right when it comes to the average retiree.
The current state of the economy is less than reassuring: unemployment is rising, dollar is very weak and falling, oil is teetering near $100 barrel, housing market is totally depressed, sub-prime credit problems are spilling over into autos and credit cards, inflation is heading higher and there is widespread talk of recession. The Federal Reserve - the nation's guardian of monetary policy - is obviously scared stiff judging from the drastic moves they've made in recent weeks to rapidly force short-term interest rates into the basement. Most economists - including me - are skeptical that a nosedive of the economy can be avoided: recession is heading our way is what I see. Yet, you probably have most of your retirement assets in mutual funds [check your 401(k)], portfolios containing stocks and bonds and other risky investments. Have you forgotten what happened when the dot.com bubble burst? Have you thought about what you'd do if the market drops drastically? Do you realize you'll not have a second chance if you lose too much of your retirement money? What can you do?
One option is to look into locking in a guaranteed lifetime income you can't outlive. You see, there is insurance for longevity risk: insurance companies which are among the world's largest, strongest and oldest financial institutions are willing to guarantee you a lifetime income you can't outlive if you'll deposit with them some of your retirement money. They will take the risk associated with the markets, stocks losing value, real estate crashing and other unforeseeable developments that can erase your retirement money. You'll still be left with taxes, inflation, health issues and non-investment risks but you'll not be able to outlive your money. How can insurance companies make such guarantees? The same way they are able to insure your home, car, health, life, business and other valuables: the law of large numbers and spreading the risks. If you live too long and they lose money on guaranteeing you a lifetime income there is someone else in your cohort group that didn't live as long as they were expected. So, over time the numbers average out and the insurance company is able to manage the risk and make a profit. You, on the other hand, got protection from your most feared risk in retirement: outliving your money.
How do you find out more? Ask your financial advisor to talk to you about a guaranteed lifetime income secured by an insurance company. By the way, if your advisor starts talking about 'variable annuities' tell him or her that you want something without risk: mention a fixed annuity without downside risk and one that allows you to start, stop or store your guaranteed lifetime income. You don't have to give up control of your money to get a guaranteed lifetime income because in the past couple of years insurance companies have begun offering new products that specifically take care of longevity risk faced by retirees. These new plans allow you to change your mind if your circumstances change. Insist on flexibility and insist on no market risks. If you choose not to investigate this option but instead keep your retirement money exposed to the market, make sure you have a good answer for the following question: 'What will you do if the worse case becomes a reality?'
You've got once chance to get retirement right - check out the Retirement Pros website http://www.theretirementpros.com/ for free e-Reports, Calculators, Video Seminars, Safe Money Advisory newsletter and more.
|
|
|
|
|
CERTAIN CONTENT THAT APPEARS ON THIS SITE COMES FROM AMAZON SERVICES LLC. THIS CONTENT IS PROVIDED ‘AS IS’ AND IS SUBJECT TO CHANGE OR REMOVAL AT ANY TIME. | | Retirement Facts | The number of active workers participating in an employment-based defined benefit (pension) plan has been steadily decreasing, while the number has been growing in 401(k)-type plans.
|
|
|
|
![TurboTax Business + eFile 2008 [OLD VERSION]](http://images.amazon.com/images/P/B001GL8UJK.01._AA75_PU_PU-5_.jpg)
