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?
Taxes
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?
What Is The Saver’s Credit?
Did you know that if you are saving for retirement you could qualify for a Saver's Credit? Did you know it could reduce or even eliminate your tax bill? Unfortunately, many eligible taxpayers don't take advantage of these breaks because they don't know about them. Saver's Credits (formerly known as Retirement Savings Contribution Credits), are special tax breaks for … [Read more...] about What Is The Saver’s Credit?
Term vs. Whole Life Insurance
Term vs. Whole Life Insurance One of the tough truths about life is - you can't predict the future. If you were to die at a younger age unexpectedly, would you have any funds saved up to pay for your final expenses? What would happen to your dependents' finances if they were relying on your income? If you're looking for peace of mind for you and your loved ones, life … [Read more...] about Term vs. Whole Life Insurance