Personal finance

Ask Yourself These 3 Questions Before Taking a Retirement Plan Withdrawal

(Maurie Backman) It’s a good idea to save for retirement in a 401(k) plan, IRA, or both. First of all, these plans offer a host of tax benefits. With traditional IRAs and 401(k)s, you get tax-free contributions. With Roth accounts, you get tax-free gains and withdrawals. Plus, you’ll need money in a retirement plan to …

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Why a Good Retirement Plan Isn’t Separate Pieces, But a Holistic Strategy

Effective retirement planning reaches beyond investments and the numbers related to various accounts a person owns. First, it’s about understanding the scope of one’s future financial needs and goals. And from that framework, it’s about putting all areas of the plan together so that they complement one another and function as an integrated whole. Sometimes …

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4 Little-Known Perks Your Employer Might Offer

Image source: Getty Images Are these benefits included in your company’s package? Key points Most companies offer benefits like health insurance and paid time off. Your employer’s benefits package might end up surprising you. Some employers offer health and wellness perks, or even financial planning assistance. I absolutely love being self-employed. While I don’t get …

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What Biden’s loan forgiveness program means for you

Jason Anderson The Biden administration recently announced a sweeping loan forgiveness program for most federal student loan borrowers. The initiative includes more than blanket loan forgiveness, and the other provisions may have a greater effect on your budget. In my interactions with clients, financial advisors and financial professionals, I have found that many have opinions …

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Will Your Social Security Benefit Be Taxable?

Did you know that, depending on your total income, as much as 85% of your Social Security benefit can be considered taxable income? In this video, Certified Financial Planner® Matt Frankel discusses the IRS rules and what they might mean for your retirement income. The $18,984 Social Security bonus most retirees completely overlook If you’re …

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How to Prepare Your Finances for a Layoff | Saving and Budgeting

While the nation’s unemployment rate remains near record lows, there are also signs that the labor market may not be as strong as those numbers suggest. From Snap to Best Buy and Goldman Sachs, there have been a slew of high-profile layoffs announced in recent weeks across a range of industries. Fully half of company …

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What to know before taking out a loan to purchase a practice

Veterinary practice ownership has its advantages and disadvantages, just like everything in life. Practice ownership is not the same as being an employee. The will be a system shock for many because the amount of responsibility shifts. The roles and duties that weren’t a priority become yours overnight. With this in mind, let’s review 4 …

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