So you want to save for retirement, and you've heard good things about both 401(k)’s and IRA’s. You'd love to save your money into both types of retirement accounts. But unfortunately, that might not be possible. First, there's the big question: Are you even eligible? Maybe you work at a place that doesn't offer a 401(k) plan. Or maybe you have no idea if you qualify to open an IRA. Next, if your finances are anything like most American households, then there's only so much money to go around. Your paycheck is only so big, and you might only be saving somewhere around 10 percent of it. There might be enough to spread around. Finally, there's the debate of what's best for you and your money. Do any amount of searches in … [Read more...] about Should I Put Money in a 401(k) or IRA First?
Archives for March 2020
10 Steps to Retire Early – What You Should Be Doing Right Now!
After reading enough personal finance blogs, this whole financial independence thing starts to sound pretty good! But what exactly are the steps to retire early? How does someone acquire enough money to never have to work again (if they choose)? What was the path that got them there? And more importantly, what are the habits and routines in our daily lives that we can adopt that will help make early retirement an option? You might be surprised to learn that much of achieving financial independence has less to do with earning a lot of money and more to do with how you go about getting it. Your ticket to freedom doesn’t necessarily have to include some fancy high-paid position. Although it might help accelerate … [Read more...] about 10 Steps to Retire Early – What You Should Be Doing Right Now!