One of the more common investment vehicles available to workers is the 401(k) plan. As of 2019, employees can invest up to $19,000 in a 401(k) plan. Those who have reached at least 50 years of age can contribute $6,000 in catch-up contributions for a total of $25,000. This is admittedly a pretty high figure for many families to hit.… Read more →
There are multiple options for investors saving for retirement including employer-sponsored and self-employed pension plans, 401k or 403b plans, Individual Retirement Accounts (IRAs), and deferred annuities. Here is some information to help you understand retirement annuities and how they can fit into your financial plans. What is an annuity? Financial institutions, mainly investment and insurance companies, offer annuities… Read more →
Millions of Americans are deep in credit card and student loan debt. There is a big fear of an upcoming retirement crisis because people have so little saved for their golden years. Much of the problem in American personal finance stems from the lack of good financial habits. Here are three great habits that everyone should follow. Set… Read more →