How to Live Off Of One Income | Phil Town

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There are a number of reasons a family may need to or want to live off of one income. If you’re in this situation and you’re looking for ways to save more and still be able to invest for retirement, I give you 6 tips in this video that will help you realize this savings goal.

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Should Younger People Be Aggressive With Their 401k?

The issue of whether younger people should be aggressive with their 401k is an interesting subject to look at. If you look at how much money you have and where it all needs to go you can quickly decide where the various amounts should go.

Simple Solutions For Rolling Over Your 401(K)

Did you know that you don’t have to leave your 401(k) in an existing plan if you no longer work for that employer? You can legally and advantageously move those funds into a self-directed IRA. From there, either you can invest and manage the money much more effectively with a Self-Directed IRA Custodian.

Does FDIC Insurance Offer Protection For Your Retirement?

The concern most Americans have is whether or not the FDIC has enough money to pay everyone if an awful calamity should occur. While our government has not been shy about printing money when needed, it may take years to get your money in the event of bank failure. Regarding retirement accounts, you are protected up to $250,000 for your IRA. To best protect yourself, it is recommended that you have multiple IRAs at different banks that don’t exceed $250,000. But isn’t the point to grow your IRA account as large as possible to take advantage of the interest rates? Isn’t there a better solution; a retirement vehicle where you can invest your money with the safety of a bank, the return of an annuity (without the fees), and the protection greater than the FDIC?

Shopping For IRA CD Rates

Employed people can now secure their future through the individual retirement account (IRA) and you can get the plan from insurance companies, brokerage, mutual fund, and banks. Today, you can choose between the traditional and the Roth. The advantage of getting IRAs is that the holder does not pay taxes until pay out has started. Make sure that you look into IRA CD rates before proceeding with any investment opportunity.

Tax Benefits of a 401k Plan

Many retirement plans offer a number of useful benefits, including some tax benefits that allow participants to save a substantial amount of money. There are two ways in which participating in a 401k plan can reduce the amount of tax that needs to be paid.

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