What is an IRA?
An IRA, or Individual Retirement Account is a type of retirement savings account that has a number of tax benefits. The government wants to encourage you to save for retirement…
Shiyan Koh
Posts by Shiyan Koh:
I’m in my 20s. Do I really need to start saving for retirement now?
Yes. Your grandparents grew up in an age where they worked at one company for life and that company provided them with a retirement pension. We no longer live in…
If I’m just starting my savings plan, is an IRA the best place to start?
We recommend that before you start saving for retirement (either via an IRA or other tax-advantaged savings account), you should first build up an emergency fund. This is a chunk…
If I have a 401(k) at work, do I still need an IRA?
In general, the best way to think about tax-advantaged retirement accounts is to see them as a gift (in the form of tax savings) from the government. If you have additional…
If my employer does not offer matching funds for my 401(k), am I better off with an IRA?
There are two approaches to this question – the mathematical answer, and the behavioral answer. If there are no matching funds for the 401(k), depending on the investment options available…
What are the key factors in determining whether I should go Traditional or ROTH?
Both IRAs and 401ks let you choose Roth or Traditional. Roth means you pay the taxes up front (invest with after-tax income) and then the investment grows tax-free and you…
Does my decision to get a Traditional or ROTH IRA change if I’m married?
The decision to save for retirement should not change, regardless of whether you’re married or not. SAVE! In terms of the Traditional vs. the Roth, the only difference driven by…
How do I calculate what my tax rates will be when I retire?
Predicting future tax rates is an imperfect art at best! Taxes are the government’s primary source of revenue, and as such, future tax rates will depend on government spending, and…
Why do some people believe tax rates will rise in the future?
As a reminder, tax revenues are what the government uses to fund its expenses and obligations. Expenses are just what it takes the fund the day-to-day operating activities of government.…
The Golden Rules of Personal Finance
Consumers are often overwhelmed by the quantity and variety of financial advice, coming from all corners of their lives. Well-meaning family members, personal finance media personalities, friends and colleagues, all…
