As the Christmas shopping season winds down, many Americans are starting to look toward the future — and their taxes. One of the easiest ways to reduce your income tax each year is to contribute a portion of your income to a 401(k) or traditional Individual Retirement Arrangement (IRA). For example, if you earned $70,000 […]
Have you started saving for retirement yet? If you haven’t and feel that it’s too late to start saving for retirement, here’s something you should know: it’s never too late. In fact, you still have time left before the April 15th tax deadline for retirement savings in 2012. You’re able to contribute to a traditional […]
In recent months the news has been consumed with talk about taxes and retirement, and for good reason: the fiscal cliff tax deal made significant changes to tax deductions as well as to how we can save for retirement. There were more changes aside from the tax deal, however; a new tax law — the […]
There’s a saying: “Times are tight, the wallet’s thin.” While that may be true, it doesn’t mean that you should raid your retirement funds in order to pay for your child to go to college. However, according to Sallie Mae, the largest student loan provider in the United States, one third of parents dip into […]
When it comes to taking out a loan your most common option is to apply for one through a lender. It seems though that now more people are turning to their 401(k) for a loan as well. It’s understandable as this isn’t a typical loan since you don’t really need to apply for it or […]
