Personal Finance

Friendly advice about savings, retirement, and investments

Personal Finance: Savings, Retirement, and Investments

Is Using Bitcoin for Your 401(k) a Good Idea?

One of the most talked about investment opportunities of 2017 was bitcoin – a digital currency issued based on computer algorithms instead of being issued by banks or governments. If you had purchased one bitcoin back on January 2, 2017, you would have paid $989.13. That same bitcoin would have been worth about $16,496.80 on… Read More

7 End of Year Financial To-do Items

As 2017 draws to a close, year-end financial planning may not seem like a priority. However, getting all of your home finances in order now will help set you up for success in the new year. With this helpful checklist of seven to-do items, you’ll be able to enter 2018 organized and ready to go…. Read More

2018 IRS Contribution Maximum Limits for 401(k) and 403(b) Retirement Plans

There are many tax advantages to putting away your money in a 401(k) or 403(b) every year. Starting January 2018, those advantages are going to get even better! On October 19, 2017, the IRS officially announced that the contribution limit to 401(k) retirement plans will be increased from $18,000 to $18,500 for 2018. The new contribution… Read More

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

Finding the best 401(k) may seem relatively straightforward, but plans can vary drastically. Some offer more benefits to the employers, some to the employees, and others strike a healthy balance. To help you evaluate how your personal employer-sponsored 401(k) stacks up, we’ll dive into the qualities that plans can offer and which ones you should prioritize…. 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

Roth 401(k): Why a Post-tax 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 aren’t even aware that they have an option between two versions of this employee-sponsored plan: a pre-tax traditional 401(k) and a post-tax Roth 401(k). Both of these plans offer a way to save money for retirement, so let’s figure… Read More

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