Should I get a 401(k)? A Roth IRA? Or both? As with most questions in the financial-planning realm, there’s no cut-and-dried answer. It all depends on your individual situation. So let’s take a look at some of the things you should consider to help you decide which account is best for you.
Unless you’re a day trader, you shouldn’t micromanage your investments or even check them on a daily basis. But on the flip side, investing is not a hands-off endeavor, either.
The contribution limits for 401(k) plans have been increased for 2019. You will want to review your contribution rate to ensure that you are maxing your contributions to the extent that you are able to do so.
So you’ve finally figured out your perfect asset allocation and set up your investment portfolio to have the right mix of stocks, bonds, cash, etc. Ahh… you can finally sleep at night, knowing that your retirement nest egg is totally fine and on track. You never have to worry about it again, since it will just keep on growing and growing, right? Uh… no.
Fidelity’s latest survey puts the healthcare costs for a couple both aged 65 at $275,000. This is up from $245,000 in the 2015 survey and $260,000 just last year. This is a big number even for those with sizable retirement nest eggs.
Investing in and of itself can be a complicated endeavor. There are issues that you’ll need to address — what to invest in, what types of accounts are available to you and how much to invest in various types of vehicles such as stocks, bonds and cash. These decisions are all important parts of setting your investment strategy.
If you’ve ever watched cable financial news, you’ve certainly had to sit through commercials offering tips on day trading stocks or perhaps currencies. These flashy ads are certainly convincing. After all, who doesn’t want to earn excess profits and live a wealthy lifestyle?
Fall… the season of Pumpkin Spice Lattes, woolly socks, orange leaves and — for many of us — open enrollment. Yep, it’s time again to figure out if you want to make any changes to your company’s employee benefit plan. But no matter what time of year your enrollment period rolls around, here are some things to keep in mind.
Self-employment has many perks. But it also comes with a lot of responsibilities — not the least of which is saving for your own retirement. When you work for an employer, you can usually count on there being a 401(k) plan or something similar already in place that you can contribute to. However, when you work for yourself, it’s a different story. Since you are your own boss, you are responsible for both starting your own plan and funding it. Luckily, there are products on the market that can help you out. Here are two retirement plan options worth considering if you’re self-employed or a business owner.