In our perfect world, you’d never need to borrow from your 401(k) OR cash out your IRA. We don’t intend to recommend either of these strategies by writing about them, however, sometimes people run into a cash crunch and after exhausting other options turn to their retirement savings for help.
We were quoted on the websiteCreditCardInsider.com today in an “Ask The Expert” article titled Money Management for Young Professionals.
Featuring helpful hints from financial planners and writers, university counselors and others, the article featuring Credit Card Insider is aimed at those just entering the workforce and is a good introduction to some basic concepts of financial responsibility and planning. Many of the tips would be good reminders for financially conscientious readers of any age. Click on the article title above to see all the recommendations.
We're just a month away from the mid-year point, believe it or not. As a half-time refresher of sorts, I wanted to share some information on all things IRA. The following infographic from Max Retire Rules covers the high-points on the four types of IRA - Roth, Traditional, Simple, and SEP
The nice thing about this piece is that in addition to covering the basics of how each IRA functions, there is also updated limit information for 2013. This can come in handy as you contemplate your contributions now or in the future for the 2013 tax year.