Search Results for: blog types of retirement accounts

Measuring your Retirement Funds

When that 401k statement arrives in the mail, do you look at it with frustration? Many of us do. The market is in a constant state of flux and watching a long term investment like a retirement account can be confusing. How do you know if your portfolio is performing up to par? One month it is up, and then in six months it drops. Should you change your mix? Leave it alone? Most financial advisers recommend not looking at market fluctuations of long term investments too often. The short term ups and downs of the market will only worry … Continue reading →

Saving for Retirement

Do you plan to retire? Of course you do! But… how do you know if you are preparing correctly for those days of little income? When saving for your retirement there are some important steps to consider. Review the following list and get going on any area you feel hasn’t been addressed in your current financial picture. 1. Start saving as early as possible. For every dollar you save in your twenties, it is worth multiple dollars saved in your forties. Basically, whatever age you are now… start saving as much as you can in your budget for your retirement. … Continue reading →

Employee Retirement Funds

Let me start today’s blog with a few questions. Does your current employer offer a 401k or similar retirement program? Do they also offer an employer match? Many do. Now, are you taking full advantage of it? If your current employer offers you a retirement program, even if they don’t give you a portion as a match, you should be utilizing this wonderful opportunity to save money for the future. The following are the main benefits to employee sponsored retirement options: 1. Matching Money Not all companies can afford to offer matching monies to their employee’s retirement fund. But, if … Continue reading →

Financial Preparedness Advice from Money Bloggers

One important part of preparing for the future is having your finances in order. The money blog here at families.com is a great resource for learning to budget your money, save, invest, and get out of debt. Here are some great articles to read that will help you be financially prepared for whatever life has to offer: Preparing for death: Writing Down Your Wishes Everyone should have a will, especially those with children or those married with children from a previous relationship. The Basics of Estate Planning For more information on starting a will or trust, read this article. Getting … Continue reading →

New Year’s Resolutions: Retirement Goals

Saving for retirement may be at the top of your New Year’s resolutions as far as money is concerned. You may have started saving a little bit, or you may be saving only what your employer forces you to. You may want to start becoming more aggressive, or looking for ways to up what you are putting in your retirement without really affecting your budget. Here are five options to easily increase your savings for retirement. 1) When you receive a pay increase this year, simply increase your retirement contribution by the same amount. Your paycheck should not change, since … Continue reading →

Types of Retirement Accounts

If you have thought about retirement savings you know that there are many options available to you. You may have a 401K, an IRA or a 403b. You may want to have additional money set aside for retirement besides what you have in these accounts. The way you invest the money in these accounts may affect your rate of return, and how much money you have available to you when you retire. Some banks will offer IRAs that are Certificates of Deposit (CDs). While others will allow you to choose what types of funds you put your money in. Your … Continue reading →

It’s Easy to Apply for Medicaid in Washington

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Every state has a Medicaid program. It isn’t always easy to find out if you, or your family, are eligible for it. Some states make it extremely difficult to find that information. The state of Washington, however, makes it really easy for people to apply for Medicaid. Medicaid is a public, or government run, form of health insurance. It is designed to provide affordable health insurance coverage to people who are low-income and who cannot afford to buy health insurance from a private company. Medicaid gets some funding from the federal government and some funding from the state. In Washington, … Continue reading →

Financial Tsunamis

We’ve all watched the news reports from Japan with sorrow and horror. The devastation is unbelievable, and it’s hard to imagine having to endure such tragedy. Our hearts go out to the victims and we pray for them to find comfort and peace as they seek to rebuild their lives and mourn the loss of loved ones. As we contemplate these things, it’s natural for our thoughts to turn to the ripple effects of the event on our world economy, and to wonder how this tragedy might affect us down the road. Obviously, we didn’t just see our town washed … Continue reading →

Tax-Free Investing

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When it comes to investing, there are two main types – ones that are tax-advantaged and ones that are not. How do you decide which one to use? Read on to find out! Tax-advantaged accounts come in many flavors, but overall there is always some sort of tax break, deferral or savings associated with the account. One example of these is a 401k plan that lets you put away income pre-tax and does not tax you on the growth of the investment until you use it much later. Also, different types of accounts offer different types of tax advantages. For … Continue reading →

Asset Allocation

The basic concept of diversifying your assets is found in the classic saying, “don’t put all your eggs in one basket.” If you have all your eggs in one basket and a large rock falls on it, all the eggs crack. Needless to say, if you have all your money in one company’s stock and that company goes out of business… your money cracks as well. The meaning of asset allocation is the spreading out of your money over lots of different kind of investments. Good examples of these assets include stocks, bonds, and savings accounts. You should spread your … Continue reading →