Blogs
Leveraging Your 401(k) to Improve and Repair Your Credit Score: A Comprehensive Guide
Having a good credit score is essential for financial success, as it plays a critical role in determining your eligibility for loans, interest rates, and even job opportunities. But did you know that your 401(k) can be a powerful tool in improving and repairing your...
What is a Contingent Beneficiary: A Comprehensive Guide!
What is a Contingent Beneficiary? If you have a will, policy, or trust, it's essential to name a primary heir as well as a secondary or contingent beneficiary. This is a backup plan - someone who will receive your estate if the original heir isn't able to inherit, for...
How Can an SEP IRA Help You Save on Your Tax Bill?
A Simplified Employee Pension or SEP plan lets small business owners make tax-free contributions toward their employees’ retirement account, but SEP IRA accounts can also offer significant tax savings on income. A Simplified Employee Pension or SEP plan lets small...
10 Things To Do In Retirement
After working for 30 or 40 years, your retirement day arrives. You were busy for a long time and now, you are suddenly free. This 'free time' may sound great. But it could soon become boring. Nobody likes a lifelong vacation. That's why you should engage your brain...
Thrift Savings Plan – All You Need to Know in One Place
Do you know that the thrift savings plan is the world's biggest retirement plan? Let's explore this popular retirement plan in greater detail. What is Thrift Savings Plan (TSP)? For those working for the federal government, there is a retirement saving and investing...
ROTHS CONVERSIONS ARE ON SALE!
Roth IRA’s and 401 k’s with Roth subaccounts are getting more and more popular. People are realizing that paying the Tax Man now and never again is very appealing. I have always said a Roth is like paying taxes on the Seed Money and getting the Harvest for free. But...
Pension vs 401(k): Which One is Better for You?
If you are thinking of starting your journey with retirement savings, choosing which retirement plan to go for is the first question you will face. There are several retirement saving accounts, among which the most famous are the pension and 401(k) plans. So, let’s...
Inheriting an IRA or 401(K): Everything a Beneficiary Needs to Know
An Individual’s financial future significantly depends on creating or taking part in a retirement plan. Knowing all the options for designating a beneficiary is also crucial to the planning. When picking beneficiaries for retirement benefits, one must take into...
The Mega Backdoor Roth: Everything You Need to Know!
Do you want to save money on taxes and boost your retirement savings? If yes, you’ve come to the right place. Mega backdoor Roth is the perfect tool for getting around the tax rules preventing you from accessing the benefits of a Roth account due to falling into the...
Should You Invest with Family: Pros and Cons to Consider
Most people wish for the success of their family, while others go about creating it together. With the stock market fall wiping out the savings of millions, it sounds like the perfect time to build wealth with the people you trust the most. However, running a business...
Retirement Planning for Women: 6 Crucial Tips to Take the Financial Reins
Retirement planning for women looks different than it does for men. It accounts for several factors that affect women more. These may include career years lost to becoming a stay-at-home mother or the additional years women live. Read this article to find out how you...
What Can You Do With Your 401(K) After You Leave Your Job
If you are considering quitting or changing jobs, you’ll need to think about what you will do with your old 401(k) plan. Below are some options but these options depend upon the plan documents of your current plan and any new employer plan you may join. In this...