rules of a Roth IRA

Learn These 5 Rules of a Roth IRA

Among the selection of retirement accounts available to you as an investor, each has its own set of rules that governs the way your money is treated both at the time you make contributions to the account and the time you withdraw them. The Roth IRA, a type of individual retirement account, is no different. Knowing the rules of a Roth IRA can help you maximize your retirement savings while reducing the amount of taxes you will pay on them.

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barriers to retirement

How to Combat These 4 Barriers to Retirement

Preparing for a financially sound retirement is not something that happens overnight. It takes decades of proactive saving, smart investing and weighing your tolerance for potential risk. However, even with the most careful planning, there are still certain barriers to retirement that inevitably exist. Here, we’ll look at four of these barriers and address how you can go about breaking them down.

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future of Social Security

The Future of Social Security: Will It Be Sustainable?

In 2017, the average Social Security check was $1,360 per month. Social Security may not be enough for one to live off of solely in retirement, but it certainly helps as a supplemental form of monthly income when your regular income from your full-time job has ceased. However, the future of Social Security is a bit uncertain. Some fear a disappearance of Social Security benefits altogether, while others think it is more likely that Social Security benefits will just suffer a reduction—a sentiment that is more justified than the former.

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retire on time

4 Steps to Take to Retire on Time

If you’re like most of the working population, you look forward to the day that you can cease the daily grind in exchange for days spent doing the things you did not have time for when you were working full time—hobbies, traveling or spending time with family and friends. However, being able to retire on time won’t just happen out of nowhere.

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investing mistakes

5 Investing Mistakes That Can Hurt You in Retirement

We all make mistakes, but while some can just lead you to have a bad day, others can lead you to have a bad rest of your life. It sounds daunting, but making an effort to save to fund the period of your life when you are no longer working is not a task that should be taken lightly. Fortunately, the tendency for humans to repeat the same mistakes over and over helps us to be able to identify them and in doing so, prevent ourselves from doing the same. Avoid these investing mistakes to prepare yourself for a financially secure future.

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women and retirement

Women and Retirement: Here’s What You Need to Know

The little things you buy from day-to-day may not seem like they have a major impact on your retirement saving efforts. A latte here and there, after-work drinks with coworkers, a gift to yourself from your Amazon wish list. However, all of this adds up. A recent study conducted by SurveyMonkey for the Acorns app found that one out of every three millennials spends more money on coffee than they spend saving for retirement! What’s more, the survey found that this statistic applied to a majority of women. When it comes to women and retirement, the same basic principles apply for anyone building a nest egg.

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best suburbs for retirement

The 10 Best Suburbs for Retirement

During your working years, you may have decided to cut the lengthy commute to move somewhere closer to your city-based place of employment. However, with work no longer dictating your life in retirement, you have the freedom to opt for the amenities of suburban life—including a respite from the traffic, noise and congestion that often accompanies city living. If the suburbs are calling your name, consider one of these 10 best suburbs for retirement, as outlined by a GOBankingRates study that took into account taxes, living expenses, retirement income and livability.

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quotes about the stock market

8 Quotes About the Stock Market to Live By

When investing in the stock market, other people’s advice and opinions can pull you in a million different directions. With so many potential moves to make, how do you know whose advice to follow? Here’s what we think: Listen to the experts. Listen to the people who have devoted their lives to the study of stock market volatility and how to make it work well for your money. We’ve compiled a list of eight of our favorite quotes about the stock market that can help guide you in making the best decisions for the money that will grow into your nest egg for retirement.

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mistakes you cannot make in the volatile stock market

5 Mistakes You Cannot Make in the Volatile Stock Market: Part 2

In yesterday’s blog, we discussed the first three in our series of mistakes you cannot make in the volatile stock market: burying your head in the sand, always following the crowd and ignoring the experts. Each of these mistakes could lead you down a path of losing the money that will support you in retirement. By having the foresight to know what to avoid, you can prevent yourself from making costly mistakes—and secure the money you need to live the retirement you deserve. Here, we’ll look at the last two in our series of mistakes you cannot make in the volatile stock market.

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volatile stock market

5 Mistakes You Cannot Make in the Volatile Stock Market: Part 1

Riding the ups and downs of the stock market is a game that the majority of investors play throughout their lives. Some of us feel inclined to replace stock market risk with security as we grow older and closer to retirement—whether that means moving just a portion of our money to safe investments or all of it. Either way, there’s no question that the stock market is volatile by nature, which is reflected especially in its actions as of late. In February 2018, the stock market saw six 1,000 point swings during that month alone. In addition, the VIX volatility index measured more than 450 percent movement since the beginning of this year until now, indicating extreme volatility. In this volatile stock market, there are certain mistakes you need to avoid in order to maintain the nest egg you have worked hard to cultivate. We’ll look at three of those today as the first part of a two-part series.

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