On my previous post, I talked about making a hardship withdrawal on your 401k and 403 (b) but now letâ€™s take a look at the 457 retirement plan, which is a deferred contribution retirement plan for the government employees. It should be noted that some government employees may actually have both the 401(k) plan and […]
During the economic downturn for the past couple years, millions of Americans have lost their job. However, as part of the American Reinvestment Recovery Act, the government made sure that even the unemployed are also taken care of by offering numerous benefits such as extending the unemployment benefits, exclusion of up to $2,400 of income, […]
Government employees retirement plans are very similar to the private sectors because the tax contribution are deductible, the interest earned are tax deferred, and there are matching contributions provided. The difference probably is how it is named in the tax code. You are probably very familiar with the 401(k) plans because most companies have these. […]
Retirement plans are now all over the place as more people become aware of the importance of them. The government has been supporting this by providing various tax breaks because they are letting us know that we cannot rely on social security benefits alone. If you are self-employed, there are retirement plans for that. And […]
Experts say that you would probably need around 70% to 80% of your annual pre-retirement household income to retire comfortably. The retirement goal is a moving target because you just never know what you’re going to do. Below are the two factors that you need to consider when determining your retirement goals: Personal Factors Your […]
I believe people want to buy a house because it is still considered one of the American dreams. People seem to associate home ownership with the standard of living. We somehow see an improvement on our living status after we bought the house. We also feel that we have a sense of financial security knowing that we own something of value. To top it off, it also comes with the following financial benefits:
While most of home businesses require a very low start-up cost, however, there are still a lot of home based businesses that require some start-up capital to use for working capital and to purchase inventory and equipment. Check the various ways to finance your home-based business or small business.