By the year 2033, Social Security’s reserve trust funds could be exhausted. Though people disagree about when the money will run dry, and how to avoid it, it could happen in your lifetime. You can prepare for the possibility starting now. IRAs (individual retirement accounts) offer young workers the opportunity to potentially receive higher benefits … Continue reading “Retirement—Gen Y, This Is for You”
Tag: Investing
Part of bringing up children is giving them all the tools they need to survive and do well in the world and environment in which they live. In the United States today, that means helping them understand the value of and the concepts of earning, using, saving and investing money. Parents neglect teaching children about … Continue reading “Talking to your kids about money”
There’s been a lot of information going around about how to be smart with money, how to invest wisely, where to save and things like that. While there is a lot of good information out there, the foundation of smart money management is really very simple. There are just three laws you need to keep. … Continue reading “The 3 laws of smart money managment”
When you think of a retirement plan, what comes to mind? The most popular retirement plan is the IRA account. IRA stands for Individual Retirement Arrangement, allowing individuals (as opposed to groups of people) to arrange for their retirement. Strictly speaking, then, an IRA is not an investment, but simply money the tax code treats … Continue reading “The “ABC’s” of an IRA”
Money market accounts are offered by banks and credit unions like regular savings accounts. They usually pay higher rates, require higher minimum balances and limit withdrawals. Many money market accounts will even let you write a limited number of checks each month. This type of account gained a high profile during the high inflation of … Continue reading “Money market accounts”