For many, no day is complete without a trip to the neighborhood coffee shop. Many of us have been known to enjoy our triple nonfat caramel lattes, double espressos or half caffeinated mochas – whether we are shuttling our kids from school to the little league game, congregating with other parents to organize PTA functions [...]
Are multiple 401(k) plans from former employers just sitting on your shelf, collecting dust? If so, we highly recommend that you roll them over into an IRA. You’ll find that the advantages are many, while the disadvantages are few:
Pros:
IT’S SO MUCH EASIER: By consolidating multiple 401(k) accounts into a single IRA, you eliminate the hassle of having [...]
As parents, most of our time is spent managing our day-to-day lives. While making sure our kids master life’s lessons, it’s easy to put saving for college on the back burner. Experts say we should start early and balance our efforts between saving for retirement and college. It’s a juggling act, but a necessary feat [...]
The Roth IRA is a great opportunity for young savers. While you are still in a low tax bracket, you can stash away money and never have to pay taxes on it again. Take advantage of it now before you disqualify based on your income.
Pros
Here’s are the benefits of a Roth IRA for growing families:
Pay [...]
Most of us have the option of saving for retirement in a 401K plan (Wikipedia) which is usually, but not always, the best way to save for retirement.
Pros
Tax-Deferred: Save on taxes now. You will need to pay for it later though. Your tax rate now will most likely be higher than during retirement. If this [...]
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