Financial Lesson to my 23 Year Old
Saving for retirement in your 20’s, or even your 30’s can be relatively painless as opposed to starting in your 40’s or later. While retirement may seem a long way off, putting a plan in place now is a smart move.
While it may not seem like an important task to do now, I told her that saving for retirement is probably the biggest financial goal of her life and starting earlier gives her a number of significant advantages.
Who Should Consider a Mega Backdoor Roth Conversion?
For many folks saving for retirement these days, they have a dizzying array of choices to fund their plan. Heck, just Google “retirement planning” and you’ll get over 4 million hits alone on the subject. You can choose from investments such as stocks, bonds, mutual funds, ETFs, bank CDs and money market funds, insurance products, and the list goes on. You also need to consider the account type that will house your investments, from a tax perspective. For example, funds can be invested in a taxable account – think of a brokerage account or other account in which you pay taxes on your gains each year.
