No matter how old you are, it’s never too early to start planning for retirement. While you should start saving as soon as possible, one of the best ways to build a substantial nest egg is to work somewhere that offers employer contributions, like a 401(k). However, for those working in nonprofit organizations, a 401(k) plan is not usually an option. 

Fortunately, many of these entities may offer what’s called a 403(b) retirement account. In this article, we’ll discuss the finer points of a 403(b), as well as compare it to an alternative, the individual retirement account (IRA). Here are the details you need to know. 

When it comes to retirement, one of the most valuable questions you can ask yourself is, “how much is enough?” Unfortunately, it can be challenging to determine the right amount because there are many variables to consider. 

In this article, we’re going to discuss the finer points of saving for retirement so that when it arrives, you can feel secure in the size of your nest egg. Ideally, you shouldn’t have to limit your lifestyle or cut down on expenses during your golden years. So, the more planning and preparation you can do now, the better off you’ll be later on. 

This post was last updated on January 15, 2021, to reflect all updated information and best serve your needs. 

When you retire, you deserve to enjoy years of relaxation and stress-free time doing the things that make you happy with the people you love. One of the best ways to make sure this happens is by paying off your mortgage before entering your retirement years. In this article, we’ll show you the freedom that not having a mortgage in retirement brings, and we’ll also tell you how to get there.

The world of family trusts is not just for the fabulously wealthy, the aristocrats, or the savviest of investors. Most do not know what a family trust is, and fewer still ask whether they need one. 

We will cover some of the basics of trusts to help shed some light on a topic that so many people could benefit from.

As you begin estate planning, you will face difficult choices, further complicated by the current pandemic. However, it’s essential that you have a plan in place to protect your loved ones financially. There are many different ways you can do so. 

Today, we’re going to discuss two of them. Wills and trusts are both estate planning tools, meaning they help you control who inherits your assets after you pass away. The similarities between the two end there, though.

When it comes to estate planning, having a comprehensive and well-planned will is essential. Without this crucial document, your loved ones could face various legal and financial challenges once you’re gone. 

However, while a will is vital, not everyone knows what to include. Fortunately, we’re here to help. Here are the top four things you should have in your will. 

For many workers, the benefits package a company offers is almost as important as the salary that goes along with it. One of the benefits that workers are most interested in is the retirement plan. People want to know that they are going to be okay after they stop working, and in most cases, they are relying on their employer to help make that a reality when it comes to saving. 

Many companies offer retirement plans such as a 401(k). However, these plans can come with bureaucratic red tape and regulatory loopholes to jump through – which can make them more difficult to implement. Because of these difficulties, some companies choose to opt out of plans like 401(k)s altogether.

Most Americans are familiar with health insurance. We pay a premium to receive access to a health network. While some receive health insurance as a benefit from their employers, others must seek coverage on their own. 

The quality and type of health insurance often correlates with monthly premium. Higher quality insurance costs more than basic programs. However, other factors such as the policyholder’s individual health status affects the price of health insurance as well.

The idea of using life insurance as a retirement plan may seem, at best, counterintuitive. At worst, it sounds vaguely fraudulent if you’re not familiar with the intricacies of the life insurance industry. As far as most people are concerned, life insurance is there to support your family after you pass away, not to help you after you retire.  

What if you’re the beneficiary of someone else’s policy? Could you use the death benefit you receive for retirement then? Hypothetically, yes.

We all love our retirement accounts. Saving for the future gives us something to look forward to and reminds us how our hard work will pay off down the road. 

A 401(k) is one of the most popular and common types of retirement plans we have access to today.. By diverting money from our paycheck into our 401(k), the goal is to save enough so that by the time we retire, we can live comfortably without a change in lifestyle.

If you are considering starting or investing in a new business, you may have seen some information on a limited liability company (LLC) and a limited liability partnership (LLP). When you first look at the two business structures, they look very similar, but there are some key differences between an LLC and an LLP. 

To hopefully decrease confusion, we’ll start with defining what they are and then dive into what makes them different.

You Need a Budget, sometimes also called YNAB (pronounced why-nab), is a budgeting software. While it has been around since 2004, it first began receiving significant media exposure when it was voted the top personal finance application by Lifehacker in 2011. 

Over the past 16 years, You Need a Budget has become more than a budgeting program—for many of its hundreds of thousands of users, it has turned into a lifestyle. 

This post was last updated on January 20, 2021, to reflect all updated information and best serve your needs.

Full Disclosure: This article is not a get-rich-quick scheme of how to become a millionaire in your 50's. Rather, it's a list of sound principles and practices that you can put into place to become a millionaire at some point in your life even if not in your 50's. Becoming a millionaire and/or achieving financial independence takes discipline, hard work, and savings. I can assure you it WILL NOT happen overnight.

This post was last updated on January 20, 2021, to reflect all updated information and best serve your needs.

Full Disclosure: This article is not a get-rich-quick scheme of how to become a millionaire in your 30's. Rather, it's a list of sound principles and practices that you can put into place to become a millionaire at some point in your life even if not in your 30's (which is extremely difficult to do). Becoming a millionaire and/or achieving financial independence takes discipline, hard work, and savings. I can assure you it WILL NOT happen overnight.

This post was last updated on January 20, 2021, to reflect all updated information and best serve your needs.

Full Disclosure: This article is not a get-rich-quick scheme of how to become a millionaire in your 60's. Rather, it's a list of sound principles and practices that you can put into place to become a millionaire at some point in your life even if not in your 60's. Becoming a millionaire and/or achieving financial independence takes discipline, hard work, and savings. I can assure you it WILL NOT happen overnight.

This post was last updated on January 20, 2021, to reflect all updated information and best serve your needs.

Full Disclosure: This article is not a get-rich-quick scheme of how to become a millionaire in no time. Rather, it's a list of sound principles and practices that you can put into place to become a millionaire at some point in your life. Becoming a millionaire and/or achieving financial independence takes discipline, hard work, and savings. I can assure you it WILL NOT happen overnight.

This post was last updated on January 20, 2021, to reflect all updated information and best serve your needs.

Full Disclosure: This article is not a get-rich-quick scheme of how to become a millionaire in your 20's. Rather, it's a list of sound principles and practices that you can put into place to become a millionaire at some point in your life even if not in your 20's (which is extremely difficult). Becoming a millionaire and/or achieving financial independence takes discipline, hard work, and savings. I can assure you it WILL NOT happen overnight.

This post was last updated on January 20, 2021, to reflect all updated information and best serve your needs.

Full Disclosure: This article is not a get-rich-quick scheme of how to become a millionaire in your 40's. Rather, it's a list of sound principles and practices that you can put into place to become a millionaire at some point in your life even if not in your 40's. Becoming a millionaire and/or achieving financial independence takes discipline, hard work, and savings. I can assure you it WILL NOT happen overnight.

This post was last updated on January 20, 2021, to reflect all updated information and best serve your needs.

Also, note that this article does not provide any type of get-rich-quick strategies...because I firmly believe those do not exist. If that is what you're looking for, then this article is not for you. All of these strategies are proven to be successful, but only if you are able to put in the work required.

This post was last updated on January 15, 2021, to reflect all updated information and best serve your needs.

No matter how old you are right now, you should already be saving for retirement. Whether you're contributing to a 401(k), IRA, or other long-term investment (or all three), you have to make sure that you'll have enough money to last the rest of your life.