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5 Long-Term Financial Goals and How to Achieve Them

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These goals provide motivation, direction and discipline when managing your finances. Save for retirement Expected time: 10-35 years Account types: Retirement plans including IRAs, 401(k)s and pensions Planning for retirement is one of the most common long-term financial goals.

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What Is An ESOP? Here’s What You Need to Know

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You may be familiar with the standard retirement plans many companies offer, like traditional 401(k)s. You might not be as familiar with a retirement benefit plan commonly called an ESOP, meaning an “employee stock ownership plan.” An ESOP retirement plan is customized based on the company. What are the rules of ESOPs?

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Digital Nomads And Freelancers Need These Strategies To Navigate Tax Season Smoothly

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While traditional employees typically have taxes withheld from their paychecks by employers, freelancers and self-employed individuals manage their own tax contributions. While traditional employees typically have taxes withheld from their paychecks by employers, freelancers and self-employed individuals manage their own tax contributions.

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The Biggest Financial Mistakes to Avoid in Your 20s

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In the long run, this ignorance is bliss mentality only leads to more problems, whether it’s mounting credit card debt or puny retirement funds. For example, Raimondi says 20-somethings should make sure their debt is managed and that they are paying it down consistently. It comes down to an individual’s values and goals.

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How to Choose the Best College Savings Account

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Many people choose to supplement college savings using a Roth IRA because your child can use that money for non-education-related expenses and anything leftover can give them a headstart on their own retirement planning. These plans are guaranteed by the particular state you are buying them from and are not federally insured.

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7 Apps to Teach Kids About Money

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A 2017 study found that disparities in financial literacy may account for as much as 40 percent of the wealth gap between those retiring with more and those retiring with less. AdVenture Capitalist is free to download, but before you set your kid loose, be aware that the app comes with some in-app purchases. Google Play : 4.5.

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‘Money Boss’ Jo Davison’s 5 Steps for Taking Control of Your Finances

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That’s when she decided to try managing the money for a change. When it became clear the business was thriving on her watch, she started to teach other people how to manage and think about their money, too. “My husband was like, ‘Well, the business can’t do that for you,’” Davison says. And I was like, ‘Well, then I must resign.’

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