A few months ago, my company has been looking to cut cost in order to balance their budget. I guessed, I can say that to most companies during the economic downturn. The company does not have any plans of laying off people and we are also in a hiring freeze except for the critically needed staff. However, what they did was the company stopped the matching contribution to my … [Read more...] about My Employer Has Restored the 401k Matching Contribution
Investments
Early Withdrawal From IRA (Traditional): 9 Ways To Avoid the 10% Penalty
A distribution is considered an early distribution if it is made before you reach the age of 59 1/2 years. When you make an early withdrawal from IRA (Traditional), the funds will be included in your gross income and you will have to pay taxes on that. Please note that all distributions are subject to your regular tax no matter what reasons you have for making the … [Read more...] about Early Withdrawal From IRA (Traditional): 9 Ways To Avoid the 10% Penalty
9 Quick Facts About The Traditional IRA Contributions
In general, contributions to a traditional IRA can be deducted from your taxable gross income, thus, helping you save money on taxes. However, if you are covered by retirement plan at work, the tax deductions may be reduced or phased out depending on how much your gross income is for the year. While most people will agree that a Roth IRA is a better option, this may not be … [Read more...] about 9 Quick Facts About The Traditional IRA Contributions
3 Big Reasons Why You Should Save For Your Retirement
People have various reasons on why they prolong saving for retirement and majority can be attributed to the 3 poor savings habit. As an example, a lot of young people take retirement for granted easily because it is really hard to think what you're going to do 20 or 30 years from now. They would rather spend their money on something else that they can use for the present. In … [Read more...] about 3 Big Reasons Why You Should Save For Your Retirement
Types of Mutual Fund Equity Investment Options
Investing in our retirement funds is no easy task. Somehow, we would probably need to at least get an idea on where we are investing our money. There are a lot of investment assets available in the market nowadays such as bonds, cash equivalents, equity funds, stocks, etc. Although investing in direct stocks may yield the greatest reward, it also comes with the greatest risk. … [Read more...] about Types of Mutual Fund Equity Investment Options