Happy Friday, Dear Reader. 
I’m not sure why, but I found two Tax Foundation pieces to be of particular interest: Importance of Various Income Sources by Income Group and by Age Group. There are several fascinating little tidbits in there. For example, salaries/wages make up 17% of income for people over age 65, while taxable social security only makes up 10%.
Also noteworthy is the fact that salary/wage income drops from 59.1% of income in the age 55-64 bracket to 17.21% of income in 65+ bracket. In contrast, business income only drops from 9.97% to 7.47%. A few potential conclusions I can think of:
- Business owners don’t like to retire.
- Passive income from businesses really does exist!
- Many people retire from their jobs, and then start businesses.
All three sound good to me.
My favorite reads from personal finance blogs this week:
Investing
- Efficiency and Rationality in the Markets from The Incidental Economist
- Investing and the Government from The Dividend Guy Blog
- Bad Debts are Rising at Zopa from Monevator
- Never Ever Invest through a Bank from Amateur Asset Allocator
- What Happens When a Mutual Fund Goes Out of Business? from Weakonomics
- Foreclosed Homeowners’ Rate of Return from The Finance Buff
Other Noteworthy Articles
- Same Sex Couples and the Homebuyer’s Credit from TaxGirl
- 12-Step Program: Shopping Addiction? from MyLifeROI
- Passion by the Hour from The Simple Dollar
- How to Value Real Estate from Four Pillars
- Why I Never Set Foot in Libraries from Wealth Pilgrim
Carnivals
- This month’s Tax Carnival hosted by Don’t Mess with Taxes included my post about 2010 income limits for the Retirement Savings Contribution Credit.
That’s it for this week. Thanks for reading!
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