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What is a 401(k) Plan and How Does It Work

What is a 401(k) Plan and How Does It Work 1

The easiest way to get started saving for retirement is to use your employer’s 401(k) plan. A 401(k) is a retirement savings plan sponsored by your employer. It lets you save and invest a portion of your paycheck before income taxes are taken out. The specific rules and investment options vary from plan to plan, … Read more What is a 401(k) Plan and How Does It Work

Financial Checklist of 25 Important Tasks To Do Each Year

Financial Checklist of 25 Important Tasks To Do Each Year 4

It can be hard to keep track of all the various financial tasks you need to do during a given year. Today I thought I would share a list so you can map it out on whatever calendar application you like to use.  Here are some of the key financial tasks that should be done … Read more Financial Checklist of 25 Important Tasks To Do Each Year

The Real Difference Between Roth and Traditional IRAs

There is a limit which is set by the IRS every year for both Roth and Traditional IRA accounts. The current IRA contribution limits for those under 50 is $5,000 and for those over 50 it is $6,000. This allows for what is called a catch up. What is important in making the decision between … Read more The Real Difference Between Roth and Traditional IRAs