Personal Finance

Friendly advice about savings, retirement, and investments

Personal Finance: Savings, Retirement, and Investments

Roth 401(k) vs Roth IRA: Where Should You Put Your After-tax Dollars?

In an effort to provide their employees the right tools to optimize their retirement savings, more and more U.S. employers are offering 401(k) plans that accept after-tax contributions (Roth contributions). In 2016, 65% of Vanguard plans offered Roth contributions, up from 49% in 2012, according to Vanguard’s How America Saves 2017 report. Despite the increase… Read More

Are Retirement Plan Contributions Tax Deductible?

For anybody seeking a comfortable retirement, having a retirement plan is a must. According to data from the 2017 Retirement Confidence Survey from the Employee Benefit Research Institute (EBRI), U.S. workers with a retirement plan, such as a work-sponsored 401(k) or personal IRA, are more than twice as likely to feel confident about having enough… Read More

My Company Went Out of Business: What Should I Do With My 401(k)?

Every year, an estimated 470,000 U.S. businesses close their doors for good. Employees (and their employers) who go through this experience have are left with several balls to juggle, including how to secure health coverage, meet their list of upcoming bills, and start the search for a new job. To help you through these tough… Read More

What’s the Best 401(k) Plan?: Features You Should Be Looking For From Your Provider

More and more American workers are choosing the 401(k) as their preferred way of saving for retirement. Over the 2004-2014 period, 401(k) plans went from holding $2.2 trillion in assets to an estimated $4.4 trillion. To help you evaluate how your personal employer-sponsored 401(k) stacks up, we’ll explain the qualities of bad, good, and great… Read More

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

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