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.…
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…
A 401(k) is a type of retirement savings account offered by an employer. It allows you to place a portion of your salary into a special account that has a…
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…
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…
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…
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…
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…
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…
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…
