Personal Finance

Friendly advice about savings, retirement, and investments

Personal Finance: Savings, Retirement, and Investments

401(k) Saver’s Credit: A Step-by-Step Guide to Reducing Your Tax Liability

While there are so many 401(k) tax advantages, some workers still feel that they would be better off by delaying their contributions to a 401(k) plan. This is particularly true for single filers making about $30,000 per year or joint filers pulling a combined $60,000 per year. Knowing it’s critical to start saving for retirement… Read More

Pre-tax vs. Post-tax 401(k): Why a Roth 401(k) is Better for Younger Workers

401(k)s are a widely popular option for American workers who are saving for retirement. However, many of these savers aren’t even aware that they can choose between a pre-tax traditional 401(k) and a post-tax Roth 401(k). In 2015, of the 1,900 employers providing a 401(k) plan through Vanguard, 56% of them offered a Roth 401(k)… Read More

5 Ways to Start Investing with Less Than $500

A small investor will never become a wealthy investor without putting that first dollar into the markets! There are many excuses not to invest; you don’t have enough money, you don’t know where to begin, you’re scared etc. Yet, if you have just $500, or even less, then you can start investing today. Below are… Read More

Beyond an FSA: Dependent Care, HSA, Adoption, and More

In hopes of attracting and retaining top talent, employers are offering more and better benefits options to their potential and current employees. An estimated 74% of large firms and 17% of small businesses offer their employees the option of contributing to a flexible spending account (FSA), which allows employees to use pre-tax dollars to pay… Read More

How and Why to Invest in Real Estate Investment Funds with REITs

It would be great to have enough cash to buy an apartment building or commercial real estate nationwide and have the wherewithal to manage your real estate empire. Yet, most investors have neither the time nor the money to capture the potential investment gains of investing in real estate. REITs or real estate investment trusts… Read More

Should I Contribute to My 401(k) Even if There’s No Match?

Since nearly 80% of U.S. full-time workers have access to an employer-sponsored retirement savings plan, chances are that  you’ll eventually be eligible to enroll in a 401(k) from your employer. The more employees your company has on payroll, the higher your chances of access to a 401(k). Seeking to attract and retain talent, most employers… Read More

Are My 401(k) Fees Too High?

Are you paying too much in high 401(k) fees? Unfortunately, you might well be – a 2015 study by American Progress found that the average 401(k) plan charged 1% of assets every year. Small business employees are even worse off: plans with fewer than 100 employees averaged 1.32% in fees. 1% here or there doesn’t… Read More

Do I Need to Do Anything Special on My Taxes for My 401(k)?

Tax day 2017 is just around the corner! For most of us it arrives on Tuesday, April 18th this year but residents of Maine and Massachusetts get an extra day thanks to the Patriot’s Day holiday. As you’re gathering your tax forms for this year, you’ll most likely run into a W-2 for income from… Read More

Average 401(k) Fees

There’s no such thing as a free lunch and 401(k) plans are no exception to this business maxim. Whether it’s you, your employer, or both, somebody has to cover the costs involved in setting up, managing, reporting on, and meeting compliance requirements for your retirement plan. About seven in ten 401(k) plan holders aren’t aware… Read More

11 Best Personal Finance Books, Tools, and Videos

Scientist and author Francis Bacon said it best, “Knowledge is power”. Whether you’re looking to prevent lifestyle creep with smart budgeting or evaluating who to hire as your financial advisor, you’ll be able to make more informed decisions related to personal finance when you have the right information available. Let’s review 11 key resources that… Read More

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