Millennials have less of a safety net than the generations before them. In fact, retirement will be different for millennials than it is for the baby boomer generation. Student loan debts — coupled with the fact that they lived through a recession and face higher-than-average unemployment and job insecurity rates — mean that retirement is […]
Category: Retirement
Mistakes That Beginner IRA Savers Can Make (And How to Avoid Them)
When you’re starting out on any endeavor, it can be challenging to get everything correct. What helps though is knowing the pitfalls and common mistakes that other people have made, and how to avoid them. The impact that taxes will have Have you wondered why so many people choose a Roth IRA over a Traditional? […]
When Withdrawing Funds from your IRA are Penalty-Free
It’s not uncommon that contributions that workers make to their IRA are prematurely withdrawn. An IRA is intended to supplement income in retirement years, but as the future and some circumstances are often out of our control, an IRA is sometimes used in other ways than retirement. Should workers need to take funds from their […]
Should You Save for Your Kid’s College or for Retirement?
Saving money isn’t easy. If you’re trying to save money for retirement — and for your child’s college tuition — at the same time, you know just how difficult it can be. Fortunately, with proper financial planning, you should be able to comfortably accomplish both goals. Funding Your Retirement If you’re like many individuals, you […]
Getting Started: What’s Taxable in Retirement and What’s Not?
Here are tips for minimizing taxes in retirement. The first step to minimizing your taxes in retirement is knowing what is taxable and what is not. You can then take steps to avoid or limit taxes on your investments. Here is how the IRS treats the most common sources of retirement funding. It is impossible […]
What Happens to Your Unused Retirement Account Contributions?
Do you know what happened to that money you contributed to your employer’s 401K program? Are you worried it’s lost for good? Don’t fret, we’ve got you covered on what happens to your unused retirement money. Did you quit? If you have more than $5,000 invested in your 401K, most plans allow you to leave […]
As a Small Business Owner, What Are Your Retirement Plan Options?
Being self-employed gives you a certain measure of freedom, but it definitely doesn’t give you an out on skipping on something as important as saving for retirement. There’s an argument that it makes putting money away that much more critical, because unlike an employee who might have access to a 401K, you’re on your own. […]
Make Room in Your Budget for Retirement Savings {infographic}
The fact is that a majority of Americans don’t have a regular savings account, and an even bigger majority don’t have a retirement savings account. Living on a budget can be tough, especially if you’ve had to make cuts to your spending in the past to make sure you’re living within your means. But even […]
Your Budget and Your Retirement
Have you ever wondered what’s eating away at your budget, or what’s derailing your retirement? Here are a few stats for you, some food for thought! Click the infographic to enlarge! […]
Get The Most Out Of Your Retirement Accounts By Planning And Implementing. Do It Now!
Let the joyous times begin because in my opinion once Halloween comes we have officially entered the great time of year that many of us call, “the holidays”. The holidays bring out so much cheer and happiness and boy is it ever contagious. Of course the holidays bring along with it different stresses that can […]
Start Saving For Retirement Today!
You have heard it time and time again and today will be no different. We wanted this to be a bit more targeted to those in their 20’s and 30’s but it can apply to anyone regardless of your age. Start saving for retirement now!!! The fact is that most 20 or 30 year old’s […]
Don’t Let Your Own Retirement Or Life Suffer When You Become Part Of The Sandwich Generation
Are you part of the sandwich generation? If you are caught in the middle of taking care of your parents that are 65 or older at the same time of taking care of your children then you are part of the sandwich generation. 33% of the Baby Boomer generation fit in this generation while 42% […]