Ten items for your end-of-year personal finance checklist. Have you maximized all your contributions and deductions for this year?
The End of the Year is Approaching. Optimize Your Tax Savings Now!
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Maxed Out 401K? How to Add More Tax-advantaged Retirement Savings
Seven more methods to invest more savings and pay less taxes on what you earn
Should You Trust Retirement-Savings-Goals-by-Age Estimates?
Two models by Fidelity and Schwab face off. Beware, their assumptions may not apply to you.
Is Yoga Covered by my Health Savings Account? What About Sunglasses?
Health Savings Accounts (HSAs) are used with High Deductible Health Plans (HDHPs). Pay for Qualified Medical Expenses or invest for their triple-tax advantage.
Saving for a Home Down Payment? Eight Investing Choices
Like other short-term financial goals, invest this money conservatively. Your checking or savings account may be good enough.
Inflation is Quietly Decimating Your Savings. What to do about it
Inflation historically ranges from 2 – 3.5% and compounds over time, drastically reducing the purchasing power of your savings
Retiring Early? Withdraw from an IRA or 401K Without Penalty
Make early distributions from your retirement savings, via 401K separation from service (age 55+), substantially equal periodic payments, or a Roth ladder
Rollover Revisited: Why Sticking With a 401K May Be Better
When changing jobs, should you rollover to a new employer’s 401K, or a rollover IRA instead? Pros and Cons.
Before You Cash Out an Inherited IRA, Review Better Options
Depending on your cash needs, you have several options for cashing out, or letting (most) of your inherited IRA grow free of taxes until you need it
This information has been provided for educational purposes only and should not be considered financial advice. Any opinions expressed are my own and may not be appropriate in all cases. All efforts have been made to provide accurate information; however, mistakes happen, and laws change; information may not be accurate at the time you read this. Links are included for reference but should not be considered an implied endorsement of these organizations or their products. Please seek out a licensed professional for current advice specific to your situation.
Liz Baker, PhD
I’m an authority on investing, retirement, and taxes. I love research and applying it to real-world problems. Together, let’s find our paths to financial freedom.
