FICA stands for Federal Insurance Contributions Act and consists of a Social Security tax and a Medicare tax. Social Security tax is 6.2% and Medicare tax is 1.45% for a combined FICA tax rate of 7.65%. FICA tax is very important for everyone to understand because so often we only think ...
Once you achieve the minimum investment threshold amount, that is when you should have more confidence to change your life for the better. For those of you far into your financial journey where you already have a lot of money, my formula can serve as a wake up call to stop wasting time....
How can you find out how much is enough for you? “Enough” is found somewhere between “surviving” and “thriving,” which I’ll explain in a second. Johnny and I were talking about this just the other day because we don’t want to spend our whole lives working toward some elusive ...
Will I have to pay back subsidies received for the full year? I do have a 401k where I could pull funds out of if that would in fact raise my income level. I still haven’t applied for social security and haven’t pulled any funds out of my retirement, as I’ve been wanting to...