Every year, like clockwork, financial planners across the land cheer as the IRS announces higher contribution limits for tax-advantaged accounts like HSAs, IRAs, and 401(k)s. It’s a big win, they say—a chance to squirrel away even more for our golden years while avoiding Uncle Sam’s grasp in the present. And yet, while those planners are…
A 401(k) is a retirement savings plan that is usually offered by an employer. If you work in education, your employer may offer you a 403(b), which is essentially the same thing. Additionally, if you’re self-employed, you can open a SEP 401(k), though they are a bit more complicated and while the essence of a…
It’s never too early to think about retirement. It will come one day and those who even save a small amount while they are in their 20s are likely to have a much more comfortable and satisfying time than those that spend all their income as they go along. The Social Security System was never…
Profile I am thirty years old and the first full month of my 30’s didn’t go so badly. It still might be the year of Mel. I work as an assistant production manager and, my yearly salary is $53,560. Saving & Spending: The Good The good has been the $600 that went into my IRA…