How to Plan an Early Retirement

How to Plan an Early Retirement

Table Of Content 2. Planning  When it comes to planning finances, it’s important to sit down and run through numbers to get a realistic idea of how much you can put away.  Ask yourself questions such as how much do I want to invest now in order to get to a level that I can […]

Investing in Your 40’s: Consider The Following Advice

Investing in Your 40's: Consider The Following Advice

Table Of Content Many people defer planning for the future because their present life is so demanding and everything’s going well with them. When you were in your 20s and 30s, your retirement seemed very far but when you reach 40, you begin to think of your financial responsibilities – now and for your retirement. […]

How to Teach Your Kids About Finance & Investing

How to Teach Your Kids About Finance

Table Of Content The Council for Economic Education has an interesting finding:  only one-third of U.S. states require high school students to attend a personal finance class as a condition for graduation.  This could be the reason why one in five 15-year-old Americans is short on the basic financial literacy in 2017 as the Program […]

403(b) Plan: How It Works, Benefits & Drawbacks

403(b) Plan basics

Table Of Content There is no doubt that a well-planned retirement is important. When you began working, you’ve probably heard people tell you to start investing in your 401(k) plan.  But sadly, not all employers offer 401(k) plans to their employees. Instead, they may offer a pension or a 403(b) plan as an option for […]

Is it Better To Have a 401(k) or IRA?

Is it better to have a 401(k) or IRA?

Table Of Content When we are young, we think the world belongs to us. But year after year we realize that one day we will be like our grandparents. Retirement will not seem as bleak as we might have expected if you have planned accordingly. Don’t rely on pensions but rather take matters into your […]

Roth vs Traditional IRAs: Which Is Right For Your Retirement?

Roth vs Traditional IRAs - Which Is Better For You

Table Of Content Roth and traditional IRAs are beneficial retirement tools. However, there are limitations to both of these financial tools. This means that one or both of them may not be right for you. Read the guide below to help you choose between the two. Traditional and Roth IRA Basics Traditional IRAs allows you […]

12 Best Retirement Books to Read in 2022

6 Best Retirement Books to Read in 2018

When you are young, getting old and retiring seems to you as alien as the theory of relativity. But being young is the right time when you actually have to sit down and start thinking about the future. There are many questions which young people ask themselves: how to plan my retirement, how much money […]

How to Borrow Against Your Retirement Account

Borrowing Against Your Retirement Account

Table Of Content Retirement planning is investing in yourself so you can have money after you stop working. The advantage is that you will be able to keep your standard of living after you retire. Moreover, planning for your retirement will empower you to save as much as possible in your retirement account and to […]

Hiring a Financial Planner – Basics, Benefits And Tips

Hiring a Financial Planner - Basics, Benefits And Tips

Nowadays, it’s no easy task to manage your money. The world has become so complicated with so many processes we don’t understand that the support of a qualified professional is essential for our survival. Most probably you have come across various terms – financial advisor, planner, manager, etc. – and feel slightly confused. In this article, I will use them as synonyms. Despite the differences, it all comes down to one thing – helping people make wise financial decisions.

Non-Spouse Inherited IRA: What Are Your Choices

Non-Spouse Inherited IRA: What Are Your Choices

You can’t complain about it – but getting an inherited account is more complicated than you probably think… Why? You may consider inheriting assets as a blessing but if you do not study their implications, you may end up with a liability instead.  Particularly, you want to continue the potential for tax-advantaged growth of these assets while avoiding their income tax impact

The Best Ways to Help You Boost Your Retirement Savings

The Best Ways to Help You Boost Your Retirement Savings

Wondering how can you boost your retirement savings? There are three primary considerations why people should seriously find ways of boosting their retirement savings now. On top of them is there is a single fact  – people are going to live longer. In addition to that – the stock market will continue to behave like a roller coaster, and let’s not forget that there will be more job losses […]

Do You Really Need a Financial Advisor?

Do You Really Need a Financial Advisor?

Every single person in this world has their job, profession and strong qualities. We need doctors to take care of our health, mechanics to repair our cars, and teachers to show us the path of knowledge. And since money plays a very important role in our lives, a question arises: do I need a professional to help me manage my finances?

The Different Types Of Retirement Saving Accounts

The Different Types Of Retirement Saving Accounts

Table Of Content Times have changed for the ordinary workingman. Our fathers counted on their pension plan and Social Security to give them comfort in their golden years.  Today, private pension plans are an oddity and Social Security isn’t exactly the windfall that it once was. This is why, once again, Uncle Sam is counting […]

Spouse Inherited IRA – What Are Your Options?

Spouse Inherited IRA - What Are Your Options?

Inheriting an asset may be the blessing you’ve been wishing for or the bane you’ve been trying to avoid.  That is if you’re clueless about what to do about it.  Most probably, you want to make these assets work for you especially if this were an IRA account.  What you need is a way to maintain their tax-advantaged growth while avoiding the irksome impact of urgent income taxes […]

The Basics Of The Different Types of IRA and Their Benefits

What Are The Different Types of IRA

IRA stands for individual retirement account and this is a savings account in which people put some money for “rainy days” – retirement. These accounts offer some tax advantages and there are two main types – Traditional and Roth IRA. To have an IRA you must meet two major requirements – you should be under the age of 70.5 and also have a monthly income. Your IRA will invest the money you have put into the account in various business opportunities – stocks, bonds, and make a profit for you.

Understand The Pros And Cons Of 401k Retirement Plan

Understand the Pros And Cons Of 401k Retirement Plan

401k retirement plan, have you heard about it? If you haven’t, then you need to be quite attentive on this one. This retirement plan has been around since 1978. It has grown to be the most popular retirement plans. If you look at statistics, one thing is clearly evident, millions of people have benefitted from this plan.

Penalty-Free Withdrawals From Traditional IRAs

Penalty-Free Withdrawals from Traditional IRAs

IRA stands for Individual Retirement Account and is a savings account, whose purpose is to support an individual’s life after retirement. IRAs offers some tax advantages which makes them attractive. Withdrawing money (called “early” or “premature” distribution) before the age of 59½ is taxable. Moreover, individuals might pay an additional 10% distribution penalty […]

What Is 401(k) And How Does It Work

What Is 401(k) And How Does It Work

Even as a 401(k) you have lots of restrictions and caveats. In maximum cases, you cannot faucet into your organization’s contributions right away. Vesting is the quantity of time you need to work for your company than having access to its payments for your 401(k) […]

Traditional IRA Pros And Cons

Traditional IRA Pros And Cons

An individual Retirement Account (IRA) is an outstanding retirement savings tool for a maximum number of people. Created with the aid of the federal authorities, IRAs can be funded at some point of your functioning years.  All through retirement, IRAs may additionally […]