401 - Not OK?
The 401K is perhaps the most popular savings tool today. It comes with impressive sounding benefits such as ‘tax deferred savings’, and ‘no fee management’. Unfortunately, there are many factors you may not have realized when you signed up. Whether you currently have a 401K or are considering one, Jay Beattey’s book is a ‘must read’.
When a bank loans money – it charges interest for the use of that money. Think of interest as rent. Say we borrow $12,000 – and agree to repay it over 10 years at an interest rate of 5.46%. Based on those loan terms, our total interest charge will be $3,600, and...read more
Let’s face it – in today’s world, it’s nearly impossible to live even a modest life without taking on debt from time to time. Unfortunately, modest debt has given way to overwhelming debt for many – and the impact, given the fragility of our economy in this Covid...read more
What your parents want you to know – but are too romantic to tell you! Warning: you’re not gonna like what I’m about to share with you – but you need to hear it. You may be thinking, ‘my parents – romantic?’ In this case – yes – they are. You see, this message...read more
Congress passed the CARES act shortly after the Coronavirus outbreak. One feature of the Act allows those ‘impacted by the virus’ to withdraw up to $100,000 from a qualified plan (401k, IRA, and others), without the usually 10% penalty (for those under 59-1/2)....read more