The IRS announced that employees will be able to contribute an extra $1,000 to their 401(k) accounts in 2022. The change reflects higher cost-of-living adjustments to retirement accounts but does not affect IRA accounts.
Inflation means you probably should contribute more to your workplace retirement account in 2022.
The CARES Act passed by Congress in March provided stimulus money to millions of Americans, and it also gave retirees a reprieve from having to take mandatory annual withdrawals from their retirement savings, including 401(k) plans and individual retirement accounts.
Brent Henningson talks about how a defined benefit plan can help business owners to accelerate retirement savings and reduce taxes.
Many lifestyle gurus have sold the idea of living for the moment and that we should only do that which makes us feel good. Looking at Instagram and you'll find 27.8 million pictures with the hashtag #YOLO, the acronym for “you only live once.” This phrase indicates a desire to live in the moment, and in extreme circumstances as an excuse for bad or risky behavior.
Financially independent couple, Tim and Amy Rutherford tell us how they retired in their 40s by spending less and have found happiness.
