Today’s marketplace offers lots of choices in terms of retirement planning vehicles. The 401(k) (or 403(b) for the nonprofit sector) and Individual Retirement Account (IRA) are two[...]
A Roth IRA is a type of Individual Retirement Account (IRA) that is named after the US senator William V. Roth who was the chief legislative sponsor of this scheme of retirement ac[...]
What is a IRA?IRA is an acronym for Individual Retirement Account. These are savings accounts that allow an individual to save periodically to take care of his financial needs afte[...]
What are SEP IRA's?A Simplified Employee Pension (SEP) plan provides a mechanism for the employees to save for their financial needs after the retirement. It also provides the empl[...]
A traditional 401k plan is an arrangement under tax law by which an employer can deduct pre-tax money from your paycheck and the employee can invest it. In a traditional 401k this [...]
Tax DeferralTax deferral is the method whereby most Americans plan their savings and retirement funds. It is the ingenious method whereby IRAs (initial retirement accounts) are cre[...]
Building wealth takes time and having an effective plan in place can ensure that the monies you save now, will be there later and in a sizable amount.[...]
Do you have medical expenses that you incur every single year? Do you always use up your entire medical insurance deductible on co-pays?If so, there are a couple of medical saving [...]
A Simplified Employee Pension (SEP) plan is established when an employer adopts a SEP agreement and has a minimum number of employees working in the organization who qualify for ow[...]
Roth 401k is a good retirement savings option. Although it does not provide an up-front tax-deduction, the account eventually becomes tax-free, because the withdrawals taken at ret[...]