Last week, John shared a great post on saving for retirement. Reader Diana took the post to heart, and she left us with a heartfelt comment about getting started on your retirement savings in your 40s. I’m in a similar scenario as Sheena and was about to ask the same question. Though – ours is […]
You always hear us finance bloggers telling you to invest for your retirement. We use big words like 401(k), 403(b), IRA, and Roth IRA, but usually assume you all know what they mean and how they work. Today, I am going to share the basics of what you need to know to open and fund an IRA or Roth IRA account.
Today reader Jeremy asked a tax question about IRAs and tax refunds. When you make Traditional IRA contributions, you can deduct that amount from your income and pay less in taxes. Jeremy asked if you can use your refund to make an IRA contribution, file an amended tax return, and get a second refund.
How often do you think about retirement? If you are anything like me, you think about the future quite a lot to ensure a long, stress free life. If, however, you are like most of the U.S., then you are probably saving something for the future, but it is very little in comparison to your
Getting started with investing can be intimating, but it doesn’t have to be. If you start with one of the basic types of investment accounts, you have the right foundation to save for your future. Individual Investment Account The individual investment account is the most basic type of investment account. This type of account has
Everyone gets excited when they start a new job. New opportunities, new challenges, and new retirement plans. Unless there are not… Some jobs don’t offer a 401(k) or other type of retirement plan, but it is still very important to save for your future even if your employer is not helping.