While passive investments generally aim to track the market, active investments strive to beat it. However, when you factor in the negative drag that high fees create, you’ll often find that passive investments outpace their active counterparts net of fees. In almost all cases, a properly-allo...
When it comes to saving for retirement, a401(k) planis one of the smartest financial products you can utilize. Contributions to these employer-sponsored plans are tax-deferred, so theylower your taxable incomeand can put you in a lower tax bracket. In addition, many companies that offer 401...
The IRA contribution limit is much lower — $7,000 in 2024 ($8,000 if age 50 or older)— so if you max that out but want to continue saving, go back to your 401(k). Some 401(k) plans, typically at large companies, have access to investments with very low expense ratios. That...
And help is definitely needed. Deloitte reports that employers think just 15 percent of their employees are indeed on track to have enough to last them through retirement. Yikes. That's even more dire than a recent analysis that said nearly half ofbaby boomers are at risk of running out of...
If you haven’t fallen behind on your mortgage payments by more than a month or two, you still have a chance to get back on track. If you can manage to raise enough extra cash, you can make up the missed payments and save your home from foreclosure. ...
taking the numbers the bank provides every month and comparing them to the totals you have in your check register. (Your check register is what you have at the back of your check book where you write down all the checks you wrote and the deposits you made during the month.) Simplisimo....
Saving for retirementis just as important when you’re self-employed as it is for everyone else. As a freelancer, you don’t have access to a 401k plan with matching funds from your employer, but you can still choose from a variety of retirement plans that you fund yourself. I use atr...
especially if your highest-interest debt is also the largest. you can build a spreadsheet to track your progress , which gives you the emotional payoff of watching your debt shrink, too. that’s important. if you grow weary of the sacrifices you're making to pay off debt, you may decide...
Our budget hasn’t changed too much, our food costs are down a moderate amount due to kids moving out. We have managed to up our savings rate. We are both over 50 so the max we can contribute to our 401k and IRAs has gone up. We max out the 401K, ROTH IRAs and HSA every year...
Bonus:Click hereto download a free copy of the spreadsheet I used on my own journey to financial independence! There wasn’t a good way to keep track of my progress to financial independence though so I used my software-developer skills to build a web application to do it!