When you’re young, it feels like retirement is so far away. And there are competing priorities for your money, like vacations, saving for a house, or buying a new car. It’s no surprise the Federal Reserve found that only 36% of adults think their retirement savings is on track. Understanding how 401(k)s and IRAs work is essential.…
Using a 401(k) or IRA is one of the best ways to save, but these accounts aren’t sufficient for all of your investing needs. While they’re perfect for retirement savings, you likely have things you want to do before you reach your golden years. Retirement accounts have some significant drawbacks you can run into if you try…
When your retirement accounts are growing, it’s great to see the numbers climb. But when you retire and start withdrawing money from your IRA and 401(k), the taxes you owe can take a surprisingly big chunk out of your total. Hopefully, you’re taking advantage of the tax breaks that come with contributing to most retirement accounts,…
In late December 2019, President Donald Trump signed into law the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). Many of the changes volleyed around Capitol Hill for years, and proponents tout it as the most comprehensive retirement changes since the 2006 Pension Protection Act. Given its bipartisan support, the changes aren’t exactly…
The global trade in legal cannabis is booming. New Frontier Data, a cannabis research firm, expects total legal sales of cannabis to approach $30 billion in the 11 U.S. jurisdictions where the substance was legal as of late 2019 — a 14% annualized growth rate, reports Forbes. New Frontier Data’s projection doesn’t account for the likelihood additional…
The U.S. economy has been on a tear the past decade. It’s been the longest streak of economic expansion in the nation’s history. Since the Great Recession bottomed out in 2009, the country’s Gross Domestic Product, or GDP, has increased for 125 consecutive months. During this period, the unemployment rate declined from 10% to 3.6% as…
Capital Gains Tax? Yes, besides sales tax, excise tax, property tax, income tax, and payroll taxes, individuals who buy and sell personal and investment assets must also contend with the capital gains tax system. If you sell assets like vehicles, stocks, bonds, collectibles, jewelry, precious metals, or real estate at a gain, you’ll likely pay…
Small companies tend not to offer 401(k) plans, given the administrative costs and headaches associated with them. So where does that leave employees and owners of small businesses who want retirement benefits? There’s a type of employer retirement account specifically for small businesses called the Savings Incentive Match Plan for Employees – or, as less…
If you have children, you’ve probably already thought about how to pay for their college expenses. It’s a safe bet you’ve also been bombarded with advice from well-meaning relatives, neighbors, and co-workers. Financial advisors who specialize in creative methods of paying for higher education recommend several approaches, depending on your current financial situation. In addition…
There are many potential trading strategies that traders can adopt depending on the market they operate in. Most of these strategies are useful for trading stocks and shares or for trading currencies. There aren’t many strategies that apply to both, but price action trading is one of them. What is Price Action? Price action refers…