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Why it’s important to start a retirement plan in your 20’s
Folks, one of the most common excuses I hear younger people make to justify not saving for retirement is that they are still young. Anyone who is nearing retirement will tell you that the years suddenly go by and building a retirement nest egg is much harder the longer you delay saving.
What Does the Fed’s Interest Rate Cut Mean for Retirees?
The federal funds rate has a number of possible implications on the markets, and how or if they will affect you personally will depend on your unique financial circumstances. And if you’re like many retirees, there could be both positive and negative effects on your finances.
Too Late for A Roth? Think Again…
Unlike a traditional IRA or regular 401(k) plan, you pay the taxes up front when you put money in a Roth account. If you follow the rules of the plan, all the interest you subsequently earn on the investment is tax-free in retirement. By design, the Roth works best for those who contribute early and withdraw late.
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.
Honored as ‘Best Financial Planner’ for the Fourth Consecutive Year
Cutter Financial Group is thrilled to announce its fourth consecutive win as the ‘Best Financial Planner’ in The Best of the Upper Cape awards, designated by The Enterprise.
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Why it’s important to start a retirement plan in your 20’s
Folks, one of the most common excuses I hear younger people make to justify not saving for retirement is that they are still young. Anyone who is nearing retirement will tell you that the years suddenly go by and building a retirement nest egg is much harder the longer you delay saving.
What Does the Fed’s Interest Rate Cut Mean for Retirees?
The federal funds rate has a number of possible implications on the markets, and how or if they will affect you personally will depend on your unique financial circumstances. And if you’re like many retirees, there could be both positive and negative effects on your finances.
Too Late for A Roth? Think Again…
Unlike a traditional IRA or regular 401(k) plan, you pay the taxes up front when you put money in a Roth account. If you follow the rules of the plan, all the interest you subsequently earn on the investment is tax-free in retirement. By design, the Roth works best for those who contribute early and withdraw late.
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.
Honored as ‘Best Financial Planner’ for the Fourth Consecutive Year
Cutter Financial Group is thrilled to announce its fourth consecutive win as the ‘Best Financial Planner’ in The Best of the Upper Cape awards, designated by The Enterprise.