Category

Challenge Yourself!

It’s very easy to get complacent in life as well as with your finances.  I’m definitely guilty of this.  Therefore, i’ve decided to give myself a challenge.  I hope you’ll join in and create your own challenge.
I currently save ~20% of my gross income for retirement.  My challenge will be to increase that amount to [...]

Saving for Retirement

People often ask in what order should they utilize the various retirement accounts/options.  Below is my take on the matter.
Stage 0 - Have an e-fund (at least 3 months’ expenses) in place - This should be your first priority so that when (not if) the unexpected happens, you don’t have to accrue debt.
Stage 1 - [...]

Retirement Plans for the Self-Employed and Small Business Owners

Those who are self-employed or have small businesses have many choices for funding their retirement. Below I’ve highlighted some of the most popular.

Self-employed (or solo) 401(k) – This is for individuals who are self-employed or business owners who have no employees. Just like a regular 401(k), your contributions reduce your taxable income. [...]

How to Get the Most Out of Your 401(k)

Most people realize that they should be contributing to a 401(k). However, most people don’t know how to manage their 401(k)s. Here are a few easy rules to keep you on the right track.

Start saving as early as possible - Time is on your side when it comes to the power of compounding [...]