Category: 401K
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Beyond 401(k) & Roth IRAs
The maximum you can contribute to your 401(k) is $15,000 and the maximum you can contribute to a Roth IRA is $4,000 – so where should you put your money afterwards? Well, my personal opinion is that if you’re able to save $19,000 towards retirement and are still eligible to contribute to a Roth IRA…
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Making Your Nest Egg Last
Lump sum illusion, a term used by Olivia Mitchell, University of Pennsylvania insurance professor and executive director of the Pension Research Council; is when someone on the cusp of retirement gets when they look at their 401(k) or pension fund and sees all those zeroes. While it’s nice to have a large nest egg, one…
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Contribute To Your 401(K)
If you’re employed and your company offers a 401(k), take advantage of it! Your funds will be deposited tax deferred (meaning you don’t pay now, you pay when you retire and start withdrawing from it) so you will have a bigger pot to invest with initially. Plus, if your employer offers a company match, you…