Retirement
Submitted by anonymous. That’s a great question, as many Americans’ only source of income is Social Security. Social Security income is taxed for federal and state income tax purposes. If your earned income exceeds IRS 2019 filing guidelines, you are required to file a tax return with the IRS and in most states. Do I…
That is a hard question, which I can only answer with a lot more questions! Question 1: Timeline The first question you need to ask yourself is: when do you want to retire? This will help you figure out how much time you have to get where you want to be. Question 2: Expenses Second,…
If you’re fortunate enough to have an employer who offers a 401(k), you should seriously consider participating. A 401(k) allows you to lower your tax bill and potentially build wealth through the stock market. Here’s how to figure out how much you should contribute. The power of the employer match You should contribute at least…
“Where are the best places for people on state assistance to start saving for retirement? I’m looking for something with low starting balances and low monthly transfers to the account. Do you recommend any financial companies, savings a...
When life happens and there’s a big bill attached, we often scramble to figure out how to pay it. Ideally, an unexpected expense should be covered by your emergency savings account. If you don’t have enough savings, consider asking for ...
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