When it comes to planning for the future, both retirement planning and estate planning are equally important. While the former will ensure that you have enough money to last your non-working years, the latter will ensure that your money goes to its rightful inheritors. Retirement accounts like an Individual Retirement Account (IRA), a 401(k) retirement ...

How much money do I need to save for my retirement? Is my retirement savings enough to lead a comfortable life? Most people envision leading a comfortable life after retirement. However, it requires meticulous planning, investing at an early age, and managing funds wisely. Most people tend to neglect retirement plans when they’re young. However, ...

Even though Roth Individual Retirement Accounts (IRAs) have been around since 1998, many investors aren’t aware of all the differences between traditional and Roth IRAs. Thus, they aren’t sure which IRA is the better alternative for them. As a summary, the unique features of a Roth IRA include: Single taxpayers with adjusted gross income (AGI) ...

Like all other parents, you would want your child to have a good education and a successful future. For this purpose, you work hard, juggle family schedules, make time for their homework, and do so much more, only to prepare them to take advantage of different life opportunities. The most important foundation of a secure ...

Taxes have always been a sore component of any savings or investment plans. High taxes can erode your earnings, and lead to disappointments at the time of maturity. Tax also plays a crucial role in your decision to invest or save in a particular investment tool. In fact, taxes and earnings go hand in hand, ...

Self-employment can be rewarding. You are your boss. You make your rules. You earn more, enjoy greater flexibility, and your work satisfaction level is high. And while all this can sometimes come at the cost of long hours, stress, and years of struggle, in most cases, the benefits of self-employment outweigh the cons. In the ...

Retirement savings have always been a complicated topic for investors. The fixed set of procedures requires the knowledge of different retirement accounts, tax benefits and liabilities, contribution rules and withdrawal limits, as well as growth opportunities. Picking the ideal investment instrument is crucial as your future can depend on it. Insufficient savings can create a ...

Most people consider investment returns as a deciding factor while picking out an investment. However, the returns are not entirely yours always. Depending on the type of investment you choose, you could end up paying a significant amount of taxes. This is why it is crucial to keep in mind the repercussions of taxes on ...

When it comes to parenting, the list of responsibilities can be a long one. Right from offering your children a safe and lovable home to tending to their medical needs, the duty of a parent never ends. Among these, the most crucial one is perhaps offering your child with the right opportunities for education. Unfortunately, ...

The cost of education in the U.S. has increased more than three times over the last three decades. This is creating a financial burden on students and their parents. Moreover, it is forcing them to focus more on finding educational loans instead of a suitable college. According to a 2020 report by EducationData.org, the average ...