As we reach the midway point of the year, investors may be wondering: What can I do to further increase my 401(k) savings? If you feel unprepared for the future, you aren’t alone. According to the Schroders US Retirement Survey, only 27% of respondents said they feel very good and fully on track about their… Continue reading 5 401(k) Savings Tips for the Rest of 2021
Maxing out your 401(k) contribution every year helps your balance grow and may increase your chances of retirement with enough money to live comfortably. However, $19,500 (the 2021 contribution limit) is quite a bit of money to stash away each year. Especially when you have a family to feed, bills to pay, and cash to… Continue reading 3 Things to Do If You Can’t Max Out Your 401(k) This Year
The world has changed over the last year, and, as a result, many of our priorities have shifted – including saving and preparation for retirement. This past January, Schroders US Retirement Survey 2021 asked 1,000 people about their state of retirement readiness and planning, as well as how their saving and investing priorities have changed… Continue reading Survey Finds Only 27% of Working Adults Are on Track for Retirement
Instead of gifting the hottest tech gadget that might make you everyone’s favorite parent, grandparent, or family friend, consider these financial gift ideas for the graduate in your life. #1 Individual Retirement Accounts (Roth IRAs) Give the gift of future financial stability with a Roth IRA. While this financial gift idea for graduates might not… Continue reading 5 Financial Gift Ideas for Graduates
Gas prices have recently gone up. And it won’t be long until other goods will start to rise in price. Between the economic effects of the pandemic and the stimulus packages, economic forecasts are all over the map. Before we dive in, we want to make it very clear that we are not predicting economic… Continue reading 15 Ways to Prepare for Economic Uncertainty
If you have income left over after paying taxes, it’s important to avoid common disposable income mistakes. However, there is a big difference between disposable income and discretionary income. Disposable income is your personal income minus your current personal taxes. For example, if you make $60,000 a year and pay 20% in federal, state, and… Continue reading 7 Disposable Income Mistakes to Avoid
It’s not uncommon for investors to change jobs and not know what to do with their 401(k) accounts, so they do nothing and leave it behind. Often, 401(k)s are left behind with old employers due to the misconception that the old employer is taking care of it for the former employee. This is not true.… Continue reading I Changed Jobs. What Should I Do with My 401(k) Account?
From funding your retirement accounts to making sure you’re on track to meet your 2021 financial goals, there’s a lot you can do in the second quarter to stay on course. Here are our top 10 financial tips for second quarter. #1 Review Your Goals, Budget, and Cash Flow Reviewing your 2021 financial goals quarterly… Continue reading 10 Financial Tips for Second Quarter
The day has come for your little one to leave the nest. But if you haven’t covered the most important financial lessons for young adults, they may end up flying back home. A lack of financial literacy and poor money management skills have left many parents paying for their adult children long after they leave… Continue reading 10 Financial Lessons for Young Adults Before They Leave the Nest
The Treasury Department and Internal Revenue Service announced on March 17 that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. This extension applies to individual taxpayers, including those who pay self-employment tax. In addition, this extension is… Continue reading Important IRS Tax Deadline Changes for 2020 Taxes
