An IRA is a great way to save for the future, but only about 14% of eligible Americans are contributing to one. That's a shame, because an IRA is a tax-advantaged investment tool that can help you invest for retirement — whether you're just starting out, in the middle of your working years or headed toward the finish line. What is an IRA anyway? First things first: an IRA — actually, "Individual Retirement Arrangement," though most people call it an account — is not an investment … [Read more...]
The 401k plan is the Ultimate Retirement Saving Plan
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Free money from your employer can be termed as one thing -- a 401K plan. This is an employer sponsored retirement plan where employees contribute a percentage of their salary into an account, with employers providing a matching percentage. Motley Fool describes it as “one of the best ways to save for your retirement. Few alternatives are better.” Basically your contribution is automatically taken from your paycheck before taxes. These contributions along with any match that your … [Read more...]