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Information to help you along your journey to a brighter financial future.

100 Ways to Cut Your Day-to-Day Expenses

No matter your life stage, managing your household budget is all about priorities–and trade-offs. One of my friends wouldn’t dream of skipping his opera outings, even though his season tickets cost an arm and a leg. To make up for his periodic musical splurges, he doesn’t mind shopping at Aldi (in fact, he seems to…

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401(k) Series: Where should I invest my 401(k)?

  What are my options? When investing in your company’s 401(k) plan, your employer and plan provider (remember them from the 3 P’s of your 401(k)?) work together to create your investment lineup, which is a list of mutual funds for you to choose to invest your contributions in. A mutual fund is managed by… Read more

401(k) Series: When should I start investing in my 401(k)?

Assume you have 2 options to invest in your 401(k): Invest $5,000 a year for 40 years Invest $10,000 a year for 20 years Let’s also assume with either option, your savings will grow at 7% each year. At first blush, it seems like it should be a wash, given that the amounts contributed and… Read more

401(k) Series: Why should I invest in my 401(k)?

In addition to being a tax advantaged account, there are two big benefits to using your 401(k) to save for retirement (as opposed to letting your money sit in your bank account). First, your employer match is free money your employer is offering to invest in your retirement. By getting a match, you are earning… Read more

401(k) Series: What is my 401(k)?

The basic idea of a 401(k) plan is that it allows you to set aside money from your paycheck into an investment account that will grow by earning interest over time. 401(k) plans typically offer a variety of stocks, mutual funds, and other investments, which can serve as the foundation for your retirement savings. This… Read more