Host: Arif Halaby
Guest: Mark Murphy
Hour #1- Minimum Wage
Hour #2- IRA’s and Retirement
Total Financial Solutions Safer Money Hour With Arif Halaby – 7/4/14
Hour 1- On todays show Arif speaks with us about the recent increase in California’s minimum wage. California’s low-end workers will all see bumps in their next paychecks as the first increase in the state’s minimum wage in six years takes effect.The increase, to $9 per hour from $8 per hour, officially becomes the state standard Tuesday. It will go to $10 per hour on Jan. 1, 2016. Now that the economy has improved, California joins 10 states plus the District of Columbia with scheduled minimum wage increases.“This first modest increase will help put more money in the pockets of hard working Californians to provide food, clothing, and housing for their families — which will generate consumer spending for a much needed boost to the economy,” said state Assemblyman Luis Alejo, D-Salinas, in a Democratic radio address last week.
Hour 2- On the second hour of todays show arif and mark talk about retirement and IRA’s.There is no limit on the number of IRAs that you can establish. However, regardless of the number of IRAs you maintain, you still cannot contribute more than the annual contribution limits:
$4,000 for 2007
$5,000 for year 2008 and beyond
If you are at least age 50, you are allowed to contribute additional amounts of $1,000 for years 2007 and after. If you decide to establish multiple IRAs, remember that annual maintenance fees that may apply to each IRA. These fees average from $50 to $100 per year.
Check out the KHTS podcast to listen to the whole show!
Get all the information you need about Total Financial Solutions Safer Money Hour here.
Full list of the KHTS Podcasts!
Don’t miss a thing. Get breakingSanta Clarita Newsalerts delivered right to your inbox.
Source: Santa Clarita Podcasts