Generally speaking, as much as possible. You need to build a fund that you’ll be able to draw on for much of your retirement income. Believe it or not, this may be possible if you start early and make smart choices. Contribute as much as you can to tax-advantaged savings vehicles [e.g., 401(k)s, IRAs, annuities]. […]
When news outlets or pundits on TV announce, “The stock market made another all-time high today!” it can often spark mixed emotions. If you are currently invested, great, but if not, then looking to invest at that point can lead to a bit of anxiety among certain investors. The fear of “buying at the top” […]
What would you do with an extra $10,000? Maybe you’d pay off some debt, get rid of some college loans, or take a much-needed vacation. What if you suddenly had an extra million or 10 million or more? Now that you’ve come into a windfall, you have some issues to deal with. You’ll need to […]
Handling your finances can be overwhelming. It can be hard to separate your money from emotions, potentially leading to issues such as overspending and ignoring debt. Many people also lack the knowledge and experience to make the most informed decisions. Even if you think you’re doing the right thing with your money, it can help […]
Are health insurance premiums taking too big of a bite out of your budget? Do you wish you had better control over howyou spend your health-care dollars? If so, you may be interested in an alternative to traditional health insurance called ahealth savings account (HSA). How does this health-care option work? An HSA is a […]
Your first step is to take advantage of tax-favored retirement savings tools. If you have access to a 401(k) or other employer-sponsored plan at work, participate and take full advantage of the opportunity. Open an IRA account and contribute as much as you can. Ideally, you’d be able to invest in both an employer plan […]
I’m one of the many who developed a passion for gardening during our ‘Covid time’ of isolation. That is to say, YouTube algorithms have now filled my home page with gardening videos. I have pretty much wrapped up the spring tomato harvest season this year, but the good news is that in Texas we also […]
Yes. Unless you absolutely cannot afford to set aside any dollars whatsoever, you should contribute to your employer’s 401(k) plan. A 401(k) plan is one of the most powerful tools you can use to save for your retirement. The first benefit is that your pre-tax contributions to a 401(k) plan are not taxed as current […]
Diversification: Spreading out risk Diversification refers to the process of investing in a number of different securities to help manage risk. The theory is that if some investments in your portfolio decline in value, others may rise or hold steady. For example, say you wanted to invest in stocks. Rather than investing in just domestic […]
You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you’ll need to fund your retirement. That’s not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your […]
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