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Is a Traditional 401(k) or Roth 401(k) Better?

Since 1978, many large employers offer a 401(k) retirement program allowing their employees to save for retirement with pre-tax income contributions. In 2006, Congress passed legislation that allowed employees to make post-tax contributions with a Roth 401(k) account. While Roth 401(k)s are still relatively new, employers are increasingly offering both retirement savings accounts. Because of[…]

Will Millennials Receive Social Security?

Americans have been receiving Social Security benefits for over 80 years. But the majority of Millennials (those born between 1982 and 2000) are uncertain if they will receive benefits when they retire. Why? The Social Security Administration currently projects the program to be insolvent by the year 2034. That’s only a few years before the[…]

How Much Should You Save For Retirement?

For many, retirement seems like a faint light at the end of the tunnel. For recent college graduates in their early 20’s, it might seem like that light will never get any brighter. Fast forward several decades and that light is nearly blinding. The underlying question is if those reaching the end of the tunnel[…]

How Much Money Do I Need to Save for Retirement?

How Much Money Do I Need to Save for Retirement? You worked hard to get where you are now, am I right? You graduated high school, spent years in college, started your career, and now you’re comfortable with your life. You spend most of your days working throughout the year, and you’ll be doing the[…]

How to Create a Budget in No Time!

One of the most important things you need to do when it comes to your financial health is to create a good budget. Having a budget, and sticking to it, can lead to greater financial stability, regardless of your socioeconomic status. Having a budget means setting limits, being disciplined and being responsible. When you have[…]

Make Your Savings Grow with Automating

If you are struggling with finding ways to tuck some money away for a rainy day, put away money for holiday shopping, or save for retirement, then sometimes all it takes is a little bit at a time—and, automating! There’s no doubt about it – making saving money an automatic thing is a great way[…]

Is A Roth IRA The Perfect Savings Plan For You?

As far as retirement plans go, a Roth IRA can make the most sense for a lot of people. Both Traditional and Roth IRAs provide a way to shelter your savings from taxes. Typically, when you invest in, say, a mutual fund, you pay taxes on the money you put in and then you pay[…]

Tips to Make Budgeting Easier

Have you ever felt that your paycheck comes and goes without notice? Do you ever wonder where it goes? Is budgeting even realistic? Get real. Whether you like it or not, you’ll have to face what others fear most- budgeting. Well, you’ve got to face your fear eye-to-eye if you really want to know where[…]

7 Ways To Save For Your Golden Years

It’s a fact that some people choose to ignore retirement due to the connotations that come with it: old age, sickness, disabilities, inability to earn a living. But let’s face it – everybody grows old and eventually, retires. How would you like to see yourself by then? Do you want to maintain the quality of[…]