Because every time your 401k starts to grow, someone dips into it, taking a piece before you even get a chance to enjoy it.Or, what about taxes? When you start withdrawing from your 401k, it's taxed as regular income. That might not seem too rough now, but if tax rat...
If our prayers aren't answered, let's hope our 401(k)s and IRAs don't get taxed out the wazoo come distribution time. If our hopes for a well-managed government are crushed, then surely we'll havedeveloped multiple income streamsby retirement so no one event can get us down! Inflation...
You get your money back. That’s it.It was afreeloan. Know what happens if you owe the government money for a year? Penalties and interest tacked onto what you owe. Even a low-interest savings account gives you something back. So why loan your money out for nothing?!? 2) Inflation ...
A Roth IRA is a retirement account established with income that has already been taxed. As with any retirement account, though, there are rules to which contributors must adhere. Answer and Explanation: The rules for Roth IRA withdrawals depend on a person's age, the amount of time that has...
Since, in a health insurance plan, the insurance provider does not pay for the entirety of your yearly medical costs, you have to pay a certain portion of these costs from your pocket. The deductible is one of these out-of-pocket payments. Before your insurance kicks in, you must...
UPDATE:This spreadsheet gives you a snapshot for the future as things stand *today*. It’ll all change as time goes on, but if we update it along w/ it then in theory it should always be correct for any given moment in time :) If you want to adjust for future changes though, scr...
When we calculate cost of living, we typically think of 1) Housing (rent or mortgage), 2) Car (loan payments and interest), and 3) Education and Child Care (student loans or child schooling). However, in actuality, taxes are usually the number one largest ongoing expense. ...
Depending on how far away this is, it could affect mortgage/car payments (or lack there of), commuting expenses, healthcare expenses, food budgets, entertainment and the list goes on. Something that Jeremy brought to my attention when I shot him my first “go” at the retirement spreadsheet...