Infographic: Roth vs Traditional 401k – Are You Making the Right Choice? Roth vs Traditional 401k: Which is Better for Your First Job Roth or Traditional 401k? Choosing the wrong option could cost you tens of thousands of dollars, and the right answer isn’t the same for everyone. I passed the CFP® exam at 16 and …
Your first job comes with plenty of financial decisions. One of them could affect your retirement savings for decades. When you enroll in your employer’s 401k plan, you may have to choose between a Roth 401k and a Traditional 401k. What’s the difference? And how should you think about this decision when you’re just beginning …
Infographic: Infographic: A Beginner’s Guide to 403(b) Plan 403(b) Plan Explained: A Complete Beginner’s Guide Just $150 a month invested in a 403(b) can grow to over $1 million over time. But one hidden detail inside some 403(b) plans can erase hundreds of thousands of that growth. I passed the CFP® exam at 16 and …
A 403(b) can be a powerful retirement savings tool, especially for teachers, nonprofit employees, and other eligible workers. But there’s something many people don’t realize: not all 403(b) plans are created equal. Investment choices, fees, employer matching, and the choice between Traditional and Roth contributions can all have a major impact on your long-term results. …
Interactive Learning Experience: The HSA Triple Play And HSA is the one account that the tax system barely touches at all: going in, growing and coming out. See how much difference that makes compared to a regular account or a 401(k). Infographic: Health Savings Account (HSA) 101 Health Savings Account (HSA) Explained for Beginners With …
Interactive Learning Experience: The Tax Timing Machine Roth and Traditional IRAs hold the same investments and grow at the same rate, so the whole question is when you pay the tax. Set your tax rate today and the rate you expect in retirement, and watch the two after-tax balances trade places. A second mode runs …
When people compare a Roth IRA and Traditional IRA, they often focus on one thing: “Which one gives me the bigger tax break?” But that’s only part of the story. The account you choose can affect your taxes today, your retirement income, and even how much of your Social Security may be taxable later. Here’s …
A new government-backed investment account is now available for many children, starting with a $1,000 contribution. At first glance, it sounds like an easy win for families. But as with many financial products, the details matter. Here, I explain who qualifies for a Trump Account, how the account works, tax rules that many parents don’t …
Interactive Learning Experience: Where Does the Next Dollar Go You have money left over each month and five places it could go. Drag them into the order you would fund them, and watch five years play out as the money runs down your list. Some runs hit you with a job loss and some do not, …
Infographic: Are You Walking Away From Your Employer’s Free Money? 401k Employer Match Explained (And the Traps to Avoid) Imagine your employer gives you $256,000 in free money, and you lose every single penny without doing anything wrong. All because you missed this one thing buried in the fine print that gives your employer the …
