Category: Taxes and Retirement

I hope you didn't reduce your 401K or other retirement account contributions when stock prices and markets tumbled earlier this year. Even though the value of your current 401K or retirement plan probably fell over this time, in the long term the power of dollar cost averaging and recovering/rising markets would…

The answer is No. According to the IRS website - "The (Stimulus Check) Payment is not income and you will not owe tax on your Payment. It will not reduce your refund or increase the amount you owe when you file your 2020 tax return next year. The will not…

With the government hoping people will spend a majority of the $350 billion dollars allocated towards stimulus checks, they may be concerned with the way a number of folks are just going to save the stimulus payment.  What I found interesting was how the various folks responded in line with…

When I moved here a long time ago one of the financial mysteries for me was the taxes on my paycheck. This included what would be deducted from my pay check and more importantly how much should I withhold to meet my tax obligations. I learned the importance of understanding…

We all want to get out from under our massive mortgage debt. So what is the best way to pay off the mortgage quicker – and not significantly impact your ability to retire? The answer is a variation on the good old “Pay every two weeks instead of once a…

As more Americans shoulder the responsibility of funding their own retirement, many rely increasingly on their 401(k) retirement plans to provide the means to meet their investment goals. That's because 401(k) plans offer a variety of attractive features that make investing for the future easy and potentially profitable. Below we've…