One of the features of retirements accounts is that you have the ability to borrow against them. And, increasingly, Americans are turning to their 401k retirement accounts for money. Emergencies like job loss, unexpected medical problems and other economic troubles are causing Americans to consider taking money from their retirement accounts in order to smooth […]
One of the things to remember when you are saving for retirement is that once you reach age 70.5, you are required to take required minimum distributions (RMDs) each year from your retirement account.
Even if you don’t want the money.
If you don’t take the RMD, you will find yourself hit with an excise tax. So, […]
This is a guest post from Monneypenny over at Digital Money World. She’s helping out while I’m out of town. One less pre-post to worry about :) Head over and give her some love.
This year we are all feeling a little poorer so how can we be stealthily putting money away for the rainy days […]
Earlier in today’s Blog Off, I mentioned investing as a personal finance tip. This one is related to it:
Diversify your investments.
You don’t want all your eggs in one basket. Indeed, it is very important for you to have a reasonably diverse investment portfolio so that you can better handle things when one of your investments […]
The last personal finance tip was about opening a retirement account. This tip is what to do if your employer offers a match program for the retirement account:
Put in the maximum for your employer-match retirement program.
This is free money that will be leveraged on your behalf in the retirement account. Take as much as you […]
In last hour’s personal finance tip, I mentioned that interest charges for debt are just so much wasted money. However, you can use the law of compounding interest to your advantage if you follow the sixth personal finance tip in my list:
Invest.
There are many different options for investing: stocks, bonds, FX trading, futures, commodities, funds […]
One of the things that many wealth building “coaches” tell you to do is to set up streams of “passive” income. But is there really such a thing? Over at Consumerism Commentary, Flexo points this out about passive income:
Simply: If you want to earn income, you have to work for it; that is, income is […]
“Today, the cost of college is skyrocketing,” Akash Agarwal tells me. “It is growing faster than inflation and faster than the median income. Federal student aid is shrinking. This leads to a college funding gap for many students.”
Agarwal is the CEO of GreenNote, a new college loan provider (launching next month) that aims at using […]
If you’re like me, it’s time to make an adjustment in the monthly budget. The dairy that we use is announcing increased prices on milk, cheese and eggs. And the fuel surcharge for delivery has gone up. Again. Not that we mind that much. After all, we like supporting local businesses — especially those with […]
I’ve got a guest post up over at Lazy Man and Money. It offers four investment ideas for your economic stimulus check. Head on over and give it a read!
Also: I have a guest post on paying down college debt over at Generation X Finance. A little bit of insight into how my husband and […]
Taking finances personally
Written by Miranda Marquit [email] for b5media.
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