There are many available options to save for retirement and they can be overwhelming. One option is a Simplified Employee Pension Individual Retirement Arrangement (SEP-IRA).
Articles tagged 'savings'
After a long career in public service, you see change on the horizon. Some would call it retirement, but not you. You’ve worked hard to get where you are, and you are confident the skill set you have is in great demand. Or, perhaps, being your own boss is something you’ve dreamed about. One of the decisions you’ll need to make: How will you continue to save when you may have 20 to 30 more productive years after you leave government?
We all make New Year’s resolutions with the goal of bettering ourselves for the year ahead. Some resolutions may sound familiar – weight loss, self-improvement, increased charitable giving – but you may be overlooking one important area to improve upon, your retirement plan.
Babies are cute and cuddly. And while you are enjoying these precious moments with your new bundle, remember that now is also the best time to start planning a successful future for them.
There’s an ongoing debate parents often face that has very little to do with political preferences — deciding whether to pay for a child’s college education and possibly taking a loan in order to do so, or saving that money toward retirement.
For many people, the question “What would you give up?” is a tough one to answer, but what if someone asked you more specifically, “What small thing could you give up on a routine basis in order to save for something big, like retirement”? What would your answer be?
Each year at the end of December, I mentally take stock of the things I want to change for the coming year. I make a short list of financial and personal goals and try my hardest to stick to them. This year is no different. As I begin to think about my goals, I’ve listed a few small financial changes below that will ultimately help me reach some of my financial goals. I’m hoping that if I stick to doing what I’ve listed below, I will be able to save myself at least $600 over the course of the entire year.
I eat a lot of money. Not literally, of course, but between groceries and eating out, a significant portion of my income goes to food. In an effort to save money, I have stopped eating out so much, but I can’t stop buying groceries. And I won’t stop buying healthy foods, although I could save a lot if I were willing to eat hot dogs and boxed macaroni and cheese every day.
As young professionals with a new baby, my husband and I have had to make many adjustments in the past few months since our son was born, and more recently, since I‘ve returned to work full-time. Let me be the first to say that babies are a wonderful blessing. They’re cute, cuddly and usually smell pretty good.
Student loans, private loans, PLUS loans (a loan that eligible parents can apply for to help pay their dependent’s education expenses)... How do you choose the right option for your budget?
Used as a savings instrument, a CD (Certificate of Deposit) offers a fixed interest rate that is guaranteed. And it’s usually a small step up from what savings accounts offer, particularly in the current market.
When I moved into my house, I realized after getting my first Sunday sales circular that I didn’t have any scissors. I thought that those coupon folks were pretty darn biased. I couldn’t be the only other person who was scissor challenged. How insensitive of them to assume we all have that sharp apparatus in our homes.
We are three months into the new year. Are your 2011 savings goals on track? You, like many others, have most likely set at least one financial resolution or goal you hope to achieve this year. And like many others, you might have excuses for why you haven’t begun working on those goals.