Most Americans dream of saving for retirement with a million dollars in the bank. Living out the rest of their life in comfort on a beach or mountain somewhere. So why aren't more people able to achieve this goal? There could be many reasons, such as unforeseen health expenses, debts, and divorce. But, another common reason is that people just didn't start saving for … [Read more...] about Saving for Retirement – When Might Be The Best Time To Start?
Investments
What Is A Pension Plan?
In 2022, hearing about a pension plan brings on a feeling of nostalgia or of a simpler time. Today's people are becoming more and more responsible for their own retirement savings due to employers no longer offering this type of benefit. These days, pensions are typically only offered by the government or larger companies. And, in many other cases, the 401(k) has replaced … [Read more...] about What Is A Pension Plan?
What Is The Difference Between A Traditional IRA and A Roth IRA?
When choosing a retirement account for investing, you have several options, but which one is the best? The short answer is that the "best" account for you will depend on your individual financial situation. In general, the Traditional IRA and Roth IRA are some of the most popular "savings account" choices among those preparing for retirement. An individual retirement … [Read more...] about What Is The Difference Between A Traditional IRA and A Roth IRA?
Which Retirement Plans Offer Tax Benefits?
With so many different types of retirement plans to choose from, you may be wondering which ones offer the best tax benefits. The simple answer is that the "best" benefits are tied to your individual situation. In this article, we'll explore the different types of retirement plans so you can decide which plan might be the most beneficial option for you. Some retirement plans … [Read more...] about Which Retirement Plans Offer Tax Benefits?
What Is A Qualified Retirement Plan?
What Is A Qualified Retirement Plan? As you begin researching more about retirement, you may stumble across the words: "qualified", and "non-qualified", and wonder if the difference between the two terms is important. The simple answer is - Yes! and it determines if you'll be taxed on your retirement income by the IRS or not. So what is the difference between qualified and … [Read more...] about What Is A Qualified Retirement Plan?