Financial Planning
Financial Planning is a broad topic that spans your entire financial life. These articles cover your early finances, the retirement saving and planning process, the related topic of Social Security, your retirement, and finally estate planning. Additionally, check out related articles in these sections: investing, savings, and real estate and homeownership.
Financial Planning is a subsection of asset management.
What is an Early Withdrawal Penalty?
Why would you give the government an extra cut out of your retirement nest egg if you didn’t have to? We all work too hard and save too diligently to just willingly give the Internal Revenue [...]
2011-2012 IRA Contribution Limits for Traditional and Roth IRAs
The contribution limit for IRAs did not change for 2012. Like 2011, the maximum you may contribute to your Traditional and Roth IRAs combined is the lesser of $5,000, or the amount of your taxable compensation [...]
401k Contribution Limits and Catch-Up Maximums for 2011-2012
Based on 401(k) Resource Guide at IRS.gov, the combined total contribution you can make to all of your 401(k) plans (including traditional 401(k), Roth 401(k), and individual 401(k) plans) in 2012 increased by $500 to $17,000; [...]
Using the Rule of 72 to Predict How Much You Need to Retire
Previously, I demonstrated a way to calculate your retirement needs. Now I am going to show you how to use a popular math trick, e.g., the Rule of 72, along with some historical inflation data, to [...]
What is a Safe Withdrawal Rate in Retirement?
If you’re like me, you hope that working hard and saving diligently throughout your life will result in a healthy nest egg that you can live off of in retirement. You’ve tried to make the right [...]
Your Paycheck: Tax Withholdings and Payroll Deductions Explained
When you first start a job, it’s exciting. You agree on a salary, and you are thrilled that you will soon be getting paid. If you are receiving a salary of $40,000 a year, and you [...]
How Do You Handle Being a Stay at Home Dad in a SAHM World?
For the first 18 months of my son’s life, my husband was the primary caregiver. I had a higher earning potential, and went back to work after only four weeks of maternity leave. However, filling a [...]
Should I Withdraw from My Traditional IRA or Roth IRA First?
Retirement planning isn’t a cut and dry affair. It is complicated with many accounts to consider. Your decisions can greatly impact the quality of retirement you get to enjoy. What’s even better is that once you decide [...]
5 Steps to Help You Achieve Your Long-Term Financial Plan
Long-term financial success, for most of us, doesn’t just happen overnight. It takes planning (and adherence to your plan) to reach your financial objectives. You will need to ensure that you are ready for the challenges [...]
Strategy to Take Money Out of Your Retirement Plans After You Retire
You’ve made it! All your diligent financial planning, spending less than you earn, and investing has finally paid off. You’ve reached retirement with a nest egg spread out across several retirement accounts. It is time to [...]
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