Relief for Retirement

Good news, the 401(k) match is back!  According to Chavon Sutton at CNN Money, 80% of the companies that suspended or reduced their 401(k) programs are planning to restore them this year.  When many companies stopped their 401(k) match programs last year, I suggested that people stop contributing to their 401(k) accounts and instead start investing [...]

Saving for Retirement through a Credit Card? Not So Fast.

Two weeks ago, the WSJ published an article on credit cards that offer cash back or points that can be used to fund your retirement or another investment account.  As the article explains: Instead of redeeming earned points for the typical airline tickets or gift cards, users of these cards receive cash that they can [...]

Start the New Year with a Bang – for Your Buck

We are back from the Holidays with some tips to help you tackle your financial resolutions for 2010.  Let’s start with three simple things to do during this short work week: Sign up for free loyalty programs and emails from your favorite stores, including the local pharmacy you frequently visit. As covered in previous posts, [...]

Tax-Deferred Plans for the Self-Employed: sometimes it is nice just knowing you have the option

In general, we believe that, if your employer does not match your contributions to a 401(k), a Roth IRA is a better option.  It can move with you as you switch employers and grows tax-free.  Whether you are employed or self-employed, you may open and contribute to a Roth IRA as long as you have [...]

Rollover – Not in Your Bed, But to a Roth IRA

With less than three weeks of work left, my calendar is quickly filling up with farewell lunches.  I have not, however, neglected other more important things related to my departure, such as making sure I will get paid for unused vacation days and that my calculation is the same as HR’s.  ALSO, I have been researching on what [...]

IRA for the Independent

From the response we got to yesterday’s post on contributing to a Roth IRA if your employer does not offer matching contributions to your 401K, we realized it’s time for a back-to-basics crash course on IRAs.  This is also a timely issue, as the increase in the number of self-employed, unemployed, and underemployed people due [...]

Roth If You Can’t Match

A few weeks ago, we wrote about checking to see if your employer offers matching contributions to your 401K and, if they do, making sure that you start contributing.  The economic downturn, however, has led many employers to cut benefits, and matching contributions have been frequently one of the first ones to go.  If you [...]

You Can’t Afford Not to Match

By “match,” I am not talking about your work outfit (although that goes without saying). I am talking about your employer’s matching contributions to your 401K.  401K  (so-called because of the section of the Internal Revenue Code that governs such plans) is a type of retirement plan that allows individuals to contribute pre-tax dollars to [...]

Hands Off the Retirement Fund

Our blog hasn’t talked about retirement yet, but expect several posts on it soon enough. For now, let me start with a short introduction, particularly useful for those of you who are interested in setting up a retirment account but do not know where to start (or even what all the codes mean) and those who might already [...]