How to get started investing in your 30s if you’ve never invested before, with a look at life events, financial balance, and more.
Contribute to an individual retirement plan like a Roth IRA or Traditional IRA? Here are the 2018 and 2019 IRA contribution limits.
There’s a little less than three months left in 2016. You might not think that there’s much you can do to influence your tax situation, but the truth is, there’s still lots of time to save on your taxes before the end of the year. And I’m not talking about going Donald Trump-style and losing […]
Funding your retirement is a challenge with so many different options and a prevailing environment of low interest rates making savings accounts an unattractive option, which is why some investors are looking into the potential of a precious metals IRA. However, you can’t actually buy gold bars and leave them in your safe at your […]
You likely know that, if you leave your employer, you should roll over your old 401k into a Rollover IRA (Individual Retirement Account). This strategy typically gives you more options for investment and flexibility with your money. But did you know that you can also do a reverse rollover? This is where you take your […]
I’m a big fan of methods and orders of operations for doing things. I think that it is essential to have a set plan for executing tasks, especially long term tasks like saving for retirement. But what’s the best way to go about funding retirement? What is the proper order to save? Remember back in […]
By the time retirement rolls around, most Americans have saved less than half of the amount that experts recommend. Instead of being an unprepared statistic, make a resolution to max out your retirement savings, and let compounding interest bolster your savings. The IRS changes annual retirement contribution limits each year. As a result, it can […]
Can you believe that there are only two months left in 2014? Where did the year go… It seems like just yesterday we were talking about taxes (oh, because we were talking about taxes – early filers…). Anyway, now is the time to start making some end of the year plans, especially when it comes […]
Everyone makes mistakes. But if you learn from those mistakes, it never a bad thing. However, it is even better if you can learn from others’ mistakes and avoid making them in the first place. Here are six common investing mistakes that you could be making right now! Read up, and try to avoid them […]
Individual retirement accounts (IRAs) are great vehicles for investing in for retirement. However, as with anything the government creates, they don’t always make it easy to navigate the ins-and-outs of the product. If you currently have an IRA, or are thinking about starting to invest in an IRA, make sure that you don’t do these […]
Here are four personal finance tips that I wish I knew at 18 before I made these common financial mistakes. Learn from my stories.
When I was a kid, there were a number of things my mom and I did every year without fail. One of our annual traditions was going to JCPenney (JCP) every fall to buy new clothes for the upcoming school year. In fact, I know many families did the same thing, which garnered JCPenney a […]
Thank you everyone for continuing to send me great questions to answer each week! This question comes from Suzanne, who is in an awesome financial situation! I hope to be in her shoes very soon, and it’s something that I think everyone should aspire to be in! The Question Robert, I was hoping that you […]
As long as you keep sending me questions, I’ll do my best to answer them each week (if you’re comfortable letting me). You can ask a question here. This week’s question comes from Solomon, who was wondering what the difference is between a Roth IRA and an ETF…check it out: The Question I have a […]
You’re familiar with Spring cleaning, right? Where you open your windows for the first time and realize how dusty everything got while you were hibernating in the winter? I think it’s time to start a fall cleaning schedule. One in which you prepare your home for the coming winter. Here are the things I’m doing […]
The other day I posted about When to Open a Roth IRA, and I got an interesting comment from Jason at Work, Save, Live. He wanted to start investing in a Roth IRA for many of the reasons I mentioned in the article, but he hadn’t started yet because he’s working his way out of […]
The Roth IRA is a special type of retirement account that makes it possible to avoid taxation on investment returns because you invest with money that you have already paid taxes on in the present. If you are trying to decide what type of retirement accounts open, the Roth IRA has some specific advantages that […]
When you change jobs (which many people have over the last few years), you may not quite know what to do about your old 401k. Your old employer most likely didn’t tell you anything, and your new employer may have had one line in the middle of your benefit package. Depending on your old employer’s […]
Have you started thinking about retirement? If you haven’t you might want to start. With the recent economic downturn, Social Security retirement will soon become non-existent. The government has already started looking into increasing the retirement age from 65 to 67 by the year 2022. What would that mean for the average senior citizen? Well, […]
If you’ve read The College Student’s Guide to Investing, you know that an IRA is a great way to get started investing. And, you may have seen the 5 Worst IRA Mistakes Made Everyday. Today, I want to talk about the best ways to maximize your potential return in your IRA. First, it is important […]