Does your workplace offer both traditional and Roth-style 401(k) plans? Traditional plans (i.e., money is taken out of your paycheck pre-tax) have been the industry standard for several decades now. However, Roth-style plans (i.e., money that gets saved on a post-tax basis) have become very popular given that they provide accountholders with tax-free income when... Continue Reading →

On December 23, 2022, President Biden signed into law a $1.7 trillion budget bill that included some incredibly major changes for the retirement plans that people like you and I use each day. This section of the legislation has been dubbed the SECURE 2.0 Act of 2022. (Just for reference, SECURE stands for “Setting Every... Continue Reading →

If there’s one place where budgets were really hit hard last year, it’s home energy costs. Due to inflation raising the cost of nearly everything, fuel prices increased by 28% for natural gas, 27% for heating oil, 10% for electricity, and 5% for propane leading into the winter. That means in most households, they saw... Continue Reading →

2022 was undoubtedly a rough year for many people financially. Between record-breaking inflation, rising interest rates, and a plunging stock market, there were a lot of forces working against most American households. Yet, that doesn’t mean that we can’t loop optimistically to the new year and start off on the right foot. With that said,... Continue Reading →

Every year, the IRS publishes whether or not there will be any new updates to their retirement plan contribution limits and income requirements. With inflation stubbornly hovering over 8 percent for most of 2022, many people guessed that contribution increases were on the horizon - and they were right! In this post, we'll review those... Continue Reading →

A falling stock market is a scary time to invest. At times it can feel a lot like you’re throwing good, hard-earned money at something bad – like a sinking ship! This might cause you to ask: What’s the point? Should I just turn off my retirement contributions for a few months until things turn... Continue Reading →

Where do you put all the money that you earn from your paycheck?  If you're like most people, then the answer is that it most likely goes straight into your checking account. This is pretty typical considering that those funds are turned right back around to pay for your regular monthly expenses such as the... Continue Reading →

Like it or not, everything costs more than it used to. As of July 2022, the U.S. Bureau of Labor and Statistics reported that inflation had risen 9.1 percent (as measured by the 12-month change in the Consumer Price Index or CPI). Even though the Federal Reserve is taking steps to curb inflation by raising... Continue Reading →

When you're young and in your 20s, saving your money is the last thing on your mind. For many people, this is the first time they've ever had a professional job and are earning "real money" from something other than a part-time summer job. Their first impulse might be to spend it on something fun... Continue Reading →

What would you do if you suddenly were faced with a major expense like a $1,000+ car repair or the roof started to leak? Or what about if another pandemic were to strike and put you out of work indefinitely? According to a nationwide poll by Bankrate, fewer than 4 in 10 Americans have enough... Continue Reading →