If you’ve even thought for a minute about saving for retirement, chances are you’re familiar with the 401(k) savings plan. You may know that, for example, a 401(k) is a type of “defined contribution plan,” and you may know that it receives special tax treatment from the IRS. You may also remember some of the rules regarding […]
How to calculate my Social Security income
There’s a lot of doom and gloom these days about Social Security’s solvency – or lack thereof. And regardless of whether you feel your Social Security future is secure, the fact is that you shouldn’t plan on living off your Social Security benefits. After all, Social Security wasn’t designed to make up a retiree’s entire income. However, […]
What is a Retirement Calculator?
For a working person, envisioning the golden years of retirement can be both easy and difficult. We may fantasize about international adventures or beachside escapes, but rarely do we financially lay the groundwork to make our retirement dreams a reality. Finally, there are more immediate concerns: jobs, kids, mortgage payments, car payments – the list goes on. […]
Top 10 Money Management Tips
1: Know your money priorities Before budgeting, you need to determine your priorities. If you skip this crucial step, you won’t buy into your financial plan. You need to focus on aligning your money goals with your money habits. That focus is most important in your life, right now. Do you have credit card debt that just makes […]