A person’s actual investments can be less important than the types of accounts used for retirement investing. The tax-favorable 401(k) plans and individual retirement accounts, or IRAs, are a huge leg up in getting to retirement because they enable your tax-deferred earnings to compound. Fortunately, most workers with access to 401(k) plans do take advantage of them.
It’s particularly unwise to pass up the opportunity to invest in a plan when your employer matches a portion of your contributions. That’s because you’re passing up free money — the equivalent of refusing a salary increase when it’s offered.
Workers with no access to a company plan should open an IRA, yet few people make IRA contributions – only about 12 percent, according to the Investment Company Institute, an industry trade group. Be the exception to the rule. To make it easy, set it up so that your IRA account gets automatic contributions from each paycheck.
The money pit Historic or older homes have a special charm and appeal that new…
Generous policy No matter what some might say, in most cases, it pays off to…
Woosh! There it went, your tax filing deadline. Or, did it? Maybe that was just…
Penny pinching much? Obviously, no one wants to experience money problems and be forced to…
Buying a home is one of the most important purchases one could make. It’s also…
Take advantage of your membership Millions of Americans are members of a warehouse club, be…