Although your taxes may be lower than you think there’s a good chance you still spend a significant portion of your income on taxes each year. Generally speaking, if you get a paycheck, a portion of it will be going to the government in the form of taxes. In fact, the government […]
read more...Tag Archives: IRA
Penalty Free Early Access To Your Retirement Funds
As long-time readers probably know, 401(k)s are, by far, my favorite investment accounts. When it comes to allocating your investment funds, I believe dedicating money to a 401(k) with employer match should take priority over all other options. Most of the people in my life know about my affinity towards 401(k)s (I […]
read more...
Pre-Tax Investments (Not Roth) Are The Best Choice For Building Wealth
(Though it’s not required, it may be helpful to read my previous post about progressive taxes, before diving into this post.) The classic pre-tax (e.g. Traditional IRAs and 401(k)s) vs. Roth comparison usually goes something like this… AssumptionsInitial Investment = $10,000Tax Rate = 25%Total Investment Return = 900% (i.e. 10x) […]
read more...
Investment Hierarchy: Top 7 Investments For Retiring Young
When you make the decision to become an early retiree, one of the first things you’ll realize is that there are many, many different choices when it comes to investment accounts. 401(k), IRA, HSA, 457, 403(b), Roth, Taxable…the list can get pretty extensive. Each of these accounts has its own […]
read more...