Retirement planning is an essential part of personal finance, but it can also feel overwhelming. It doesn’t have to be! If you understand a few key principles and can be disciplined in small ways, you can build a nest egg that will support you when you’re able to stop working. Consider the following “secrets” to […]
Individual Retirement Accounts (IRAs)
Personal finance management is a critical life skill, yet it’s often overlooked in educational curriculums and everyday conversation. In the journey towards financial independence and stability, developing a set of core personal finance skills is a crucial first step. For those committed to improving their financial health, here are nine essential personal finance skills to
Understanding your net worth helps you better understand your financial situation. These critical insights can guide future decisions and ultimately help you to increase your net worth over time. While net worth doesn’t define who you are as a person, it is a key piece of information that can help you make better financial decisions.
Retirement plans have traditionally consisted of three main components: personal savings, Social Security, and a defined benefit pension plan that provides lifetime income. Things have changed quite a bit in the last couple of decades as most Americans no longer have an employee-sponsored 401K retirement plan. Instead, individuals are increasingly responsible for establishing and managing
Individual retirement accounts (IRAs) are vital to your retirement strategy. But one of the big decisions is the choice between a traditional IRA and a Roth IRA. Both have their advantages, and choosing between the two can significantly impact your retirement savings. Let’s break down the differences so you can make the right decision to ensure