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Sports
High School Football
11-07-09 - Hoosac Valley beats Drury.
More photo's on Monday |
 | Thursday, Nov. 06
Boys' Soccer: State Vocational Championship Game
McCann Tech 3, Keefe Tech 2
Girls' Soccer: State Vocational Championship Game
Blackstone Valley 8, McCann Tech 0 |
Election
Trying to remember who won what and why? All the information is right here. |
Daily Digest
This is Jake
He's been lost in Pittsfield for weeks but frequently sited. He was last seen heading toward the fire station on Peck's Road. He's tired, dirty and needs seizure medication. He's chipped. If you see him, call Julie at 413-537-5616, the vet 24/7 at 413-499-2820 or animal control at 413-448-9700. |
What's Playing
The popular anime character "Astro Boy" searches for acceptance on the big screen.
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ObituariesSales FliersBazaarsNov. 7:
VNA & Hospice, Community Room, North Adams
North Adams Elks
10-4; Nov. 8, 9-2
Crafters, Chinese auction, bake sale
For vendor information, Melanie at 413-743-5562.
Nov. 14
Berkshire Community Church, Richmond
10-4; Crafters, bake sale. Contact Evelyn Goggia at 413-445-5747
Lanesborough Elementary School annual Fall Craft Fair from 10 to 4. Free admission, huge variety of arts and crafts, raffles, food and more. Proceeds go to sixth-grade trip to Cape Cod.
Vendors can contact Deb at 413-738-5349 or debhutton@aol.com or Lori at 413-499-0065 or lorittod@yahoo.com to secure a spot.
Dec. 12-13
North Adams Country Club, crafts 9-4; food from That's a Wrap from 11-2. Contact Sheryl Morehouse at 413-822-3329.
Planning a bazaar this season? Submit information to info@iberkshires.com to have it listed here. |
Related Stories |
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Independent Investor: Why It's Important to Contribute to Your IRA This YearBy Bill Schmick
iBerkshires Columnist
10:29AM / Saturday, January 03, 2009
 | | Bill Schmick |
No doubt about it, 2008 was a bad year for the stock and bond markets. Hopefully, the coming year may not be as bad but nobody I know is counting on a great 2009 either.
Given the recession, dim prospects for investment and a general feeling that conserving capital might not be a bad idea, many investors are considering foregoing this year's tax-deferred contribution. Don't do that.
My advice is to go ahead and contribute the maximum amount you can afford. For those over 50, that means you can contribute a tax-deductible $6,000 in 2008 to a traditional IRA ($5,000 if you are under 50) subject to phase out limitations on your income levels and marital status. The same applies to a Roth IRA although the tax deduction does not apply. As for your 401(k)s, this year's allowable tax-deferred contributions are $15,500 for those under 50 while a catch-up contribution of an additional $5,000 is allowed for those over 50.
So given the economic malaise we face, why do I say contribute? For one thing, the stock markets are down by a greater amount in one year then at any time since the Great Depression. Securities of all kinds are at historically cheap levels but they won't stay that way forever. By investing new cash into your tax-deferred portfolios you can take advantage of these cheaper prices.
Remember too that your tax-deferred accounts are long–term in nature so, depending on your age, you stand to reap the benefits of buying in now and watching your investment not only recover but continue to grow for years into the future. If, on the other hand, you remain cautious concerning the prospects for the markets in 2009 you should still contribute only invest your new funds in something safe like money markets or Treasury bonds until you feel more comfortable.
Of course, there are certain circumstances where you may not want to contribute. If you recently lost your job like millions of Americans have done this year then it may be prudent to conserve that cash and skip your 2008 contribution until you re-enter the job market. Likewise, if your company is experiencing hard times and the prospects for layoffs seem high, then there, too, you might want to bank that money in an emergency fund until you see the lay of the land. I expect the next wave of job firings will occur in the January-February time period. If you survive that then you still have time given that your 2008 contributions do not have to be made until April 15, 2009.
One final note concerning last week's column "Take Your Minimum Required Distribution Now," I explained that those who are required to take an MRD must do so by the end of 2008. However, as I predicted, President Bush, on Dec. 23, signed the Worker, Retiree and Employer Recovery Act of 2008. Although your MRD must still be taken for 2008, the Act suspends the requirement that all those who have reached the age of 70 1/2 years old will need to take a mandatory required distribution from their IRAs in 2009.
Better late than never, I guess.
Bill Schmick is a licensed investment adviser representative and portfolio strategist as well as a registered financial planner with Berkshire-based Dion Money Management, which manages more than $500 million for middle-class Americans from coast to coast. Direct your inquires to Bill at 1-877-850-7942, Ext. 146, (toll-free) or e-mail him at wschmick@dionmm.com. You can also visit www.afewdollarsmore.com for more of Bill's insight. |
| Thanks for helping the average investor | | from: Roger Lachance | on: 01-03-2009 |
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