The Treasury Department and Internal Revenue Service announced on March 17 that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. This extension applies to individual taxpayers, including those who pay self-employment tax. In addition, this extension is…
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Roth 401(k) plans have been around for a while now, but here’s something you want to keep in mind about these accounts. When you leave your employer, generally speaking, you should always rollover your Roth 401(k) to a Roth IRA. There may be a few exceptions, but that’s the general advice. This is primarily due…
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Parents should be intentional about teaching their kids good financial habits because, if they don’t, no one else will. According to Next Gen Personal Finance, a high school personal finance curriculum company, only 16.4% of U.S. high school students are required to take a personal finance course.¹ And Nitro, a student loan educational website, recently…
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There’s no such thing as a dumb question – especially when it comes to 401(k) investor questions. The problem is that, for whatever reason, many investors don’t ask. If this sounds familiar, you’re not alone. CNBC reports, “Though it’s one of the most common retirement savings vehicles, 63 percent of Americans don’t understand exactly how…
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Millions of Americans’ retirement savings hit record balances by the end of the fourth quarter of 2020. Likewise, the number of IRA millionaires and 401(k) millionaires also set record highs. Envious? A Fidelity Investments expert offers retirement planning tips for how you can boost your savings too. First, feast your eyes on the results. The…
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Can I Really Catch Up on Retirement If I’m over 50? For investors behind on retirement and over 50, it may seem as if there is little they can do to catch up. The good news is that you may be able to get closer to your retirement goals than you think. Below are 9…
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Should I Prioritize Retirement Savings over My Kids’ College Tuition? As parents, we make it our goal to take care of our children, protect them from harm, and help them succeed. So, it is no surprise many parents are unsure if they should put their retirement savings over kids’ college tuition or vice versa. Especially…
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The IRS announced last week that workers will be able to set aside an extra $1,000 in their 401(k) accounts in 2022. The change was made as part of cost-of-living adjustments to retirement accounts; although, if you have an individual retirement account (IRA), you’re out of luck—contributions will remain unchanged at $6,000. Your 401(k) contribution…
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Prepare for a Financial Emergency Using These 5 Simple Steps August 2, 2021 While we all know the importance of preparing for a financial emergency, the truth is, most people are not prepared. According to Bankrate’s Financial Security Index, “Just four in 10 U.S. adults (41 percent) would cover the cost of a $1,000 car…
Read articleToday I want to do a deep-dive into Convex Finance, which I refer to as my DeFi Cashflowing 401k. Over the last few months I’ve made over $6k through voting (and possibly even more in 2 weeks). Convex is only 7-months old and has over 14 Billion in total value locked (TVL). It controls the…
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