Newsletter Archive

Marotta On Money - January 10 Newsletter


Philanthropy and Charitable Giving

A New Opportunity: Donating to Charity from Your IRA (01-10-2011)

Congress has reinstated the ability to donate to a charity directly from your IRA without any tax penalty. You may benefit from this provision if you fit the right criteria. The IRS normally collects tax every time you withdraw funds from your IRA. For example, if you take $100,000, the amount increases your adjusted gross income (AGI). It can cause your deductions to phase out or trigger taxation of your Social Security benefits. In the past this was true even if you subsequently donated the entire amount to charity. In addition, many retirees do not itemize.
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In The News

David John Marotta Speaking at Senior Statesman

David John Marotta will be speaking on Comprehensive Wealth Management at a "Senior Statesman of Virginia" event on Wednesday, January 12, 2011.

Time: 1:30-3:00pm

Location: Charlottesville Senior Center, 1180 Pepsi Place

For more details, see the Senior Statesman website.

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Retirement Wisdom Part 2 - Automate Your Saving (11-01-2004)

The most successful way to save it is to automate your saving plan. Saved money makes money. And saved money making more money can make the difference between upper middle class and struggling middle class. Automate your savings, and you will automate growing richer. A rich person is nothing but a poor person who has saved a lot of money. Save and invest as little as $100 a month for forty-eight years earning 9% and you can retire with a million dollars. Save and invest $1,000 a month for twenty-four years and you will have a million dollars.
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Retirement Planning