We all look forward to the day when we can give up work – but to ensure your retirement is comfortable you will need to prepare for it carefully. Putting a proportion of your earnings towards a pension may seem like a drag right now, but realistically you will need to save for as long as possible to gain a…
Tag: Contributions
After Tax Contributions
The phrase “after tax contributions” as it pertains to retirement accounts can often be a bit confusing. This article will discuss some of the common aspects of after tax contributions. You might find it easier to understand the phrase if you think of after tax contributions as being voluntary contributions. These are contributions that you deposit into a retirement account…
401 K
A 401(k) plan is an employer sponsored plan. The employer makes direct contributions to the account that are deducted from the employee’s paycheck. Most companies will match the paycheck contribution up to a certain percentage. In general, the contributions are before tax dollars and grow tax deferred until they are withdrawn. After-tax contributions are also allowed. You should contribute as…
Benjamin Franklin
Sometimes when a country is just getting organized, its citizens are considered to be uneducated, out of touch or primitive. But exactly opposite was the truth when the great American experiment began to take shape. The world did not see America as provincial or simple and that is due to a large part to the work of the man many…
Saving For Post Secondary Education
Post secondary education is very expensive in North America and unless you are fairly wealthy will be a worry for most parents. Obviously, not all kids go onto University or College but if they do and you haven’t planned for it you could find yourself with a large financial burden. This would probably happen just when most families are looking…
Start Investing Early In Your Career
You’re young, you just landed a new job and you’re going to be getting a decent paycheck. You also have bills to pay and there are also a few items that you’ve always wanted so now you can finally afford them. Investing for your retirement may be the last thing on your mind at the start of a new career.…