Quick facts about the 401(k) A 401(k) is a tax-favored retirement savings account offered by employers Individuals can contribute up to $18,000 a year ($23,000 if age 50 or older) Some employers offer the choice of both a traditional 401(k) and a Roth 401(k) You can contribute to both a 401(k) and an IRA in the … Continued
Cash can help you survive an emergency, but saving as much as financial planners typically recommend — three to six months’ worth of expenses — can take years. You can build an edible emergency fund a lot quicker. A well-stocked pantry can help you: Survive a natural disaster or extended blackout Get through a stretch … Continued
People who spend too much outnumber, by far, those who spend too little. But the methods that therapists and financial planners use to help “underspenders” can guide the rest of us about when it’s OK to splurge and when we should resist. Chronic underspenders can be so terrified about running out of money that they … Continued