SIMPLE IRAs are up next as we continue the series exploring three different types of retirement plans ideal for small business owners and the self-employed. Yesterday, we started the series with an in-depth look at the SEP-IRA. SIMPLE IRA Overview SIMPLE stands for Savings Incentive Match Plan for Employees. SIMPLEs were established to encourage small [...]
Articles by Jill
After Madison posted about her Solo 401(k) woes, a reader, Lee, suggested she look into a SEP-IRA instead. Let’s take a step back and explore 3 different types of retirement plans ideal for small business owners and the self-employed. We’ll start the series with an in-depth look at the SEP-IRA. SEP-IRA Overview SEP stands for [...]
5 Ways Spending More is Actually Frugal
Posted byIf you are a frequent reader of personal finance articles, you are familiar with some of the most commonly cited ways to save money – bring your lunch to work, install a programmable thermostat, cancel your cable, etc. In general, choosing the most frugal option is good for your bottom line. But sometimes, spending a [...]
A Comparison of College Savings Plans
Posted byIt is never too early to start thinking of saving for college. Yesterday, we talked about things to consider when developing a college savings plan. Today we’ll review various college savings options in more detail. College Savings Plan Considerations When choosing a savings plan, you should be aware of the following: Maximum contribution per year: [...]
As another school year dawns, high school students everywhere are thinking of what will come next: college life and all that it entails. Meanwhile, their parents are thinking of the accompanying bills. Depending on where a student goes to school, college can entail books, dorm costs, meal plans, parking, and travel to/from home – in [...]