Category: Save Better
Whether you’re a small business owner with employees or just do a little freelancing on the side, you can contribute more to your retirement than the $5,000 a year maximum allowed through a traditional or Roth IRA. If you’re looking to increase your total retirement savings, consider establishing a self-employed retirement plan—a SEP IRA, Simple IRA or a Solo 401(k). Each option is a little different, and the one that is best for you will depend on your income, goals and whether or not you have employees. (more…)
Between all the different retirement accounts and investment options, saving for your golden years can seem daunting. Sometimes even finding the cash to set aside can feel like an insurmountable hurdle.
Enter the Roth IRA. It’s the retirement account that allows your contributions to grow tax-free, and gives you complete control over your money in retirement—including never having to pay taxes on it again and withdrawing the cash on your own terms. At the very least (and I do mean very least), aim to contribute the maximum each year ($5,000 in 2012).
Keeping up with the Joneses used to mean having a nice home, maybe a shiny new minivan. These days, it also means paying for your kids’ college education—which may very well exceed the value of your home and car combined. While footing the bill for higher education is a noble goal, prioritizing it over more important things, like your retirement, is a dangerous mistake. (more…)
Carrie Sloan for LearnVest | August-October, 2011
Over the course of just 8-weeks, six women made impressive changes to their financial situation. There’s certainly something to be said for (1) access to a financial expert, (2) public accountability and (3) having other people to support and inspire you along the way.
Labor day is bittersweet. The long weekend marks the end of summer for most of us, even though we have a few more weeks before the calendar officially transitions to fall. The carefree days of hot temperatures and vacations may be coming to an end, but returning to a routine may feel like a welcome change. Especially when it comes to your finances. (more…)